Discussion
I went with ALA's Vehicle Replacement Plus. Slightly more expensive, but I thought my car may increase in value over 5 years being the last of the NA line. Currently they're holding station but the latest cars in the OPC network have been priced pretty highly and it's the middle of winter...
I paid for GAP with my OPC last weekend when I collected the car (thanks to my other half for bargaining!). Mine is 'back to invoice' and 3 years cover, which I think is fair enough, tbh.
Would I be being too naive to think that if the worst happened and my car was worth £5k more than when I bought it my ACTUAL INSURANCE would have to pay the market value out? Surely car insurance is there so that if your car gets stolen, they will put you back in the same car, less your excess. So I would go to my insurance company with 5 adverts all showing the current market value of an equivalent car and that's what I'm covered for??
Would I be being too naive to think that if the worst happened and my car was worth £5k more than when I bought it my ACTUAL INSURANCE would have to pay the market value out? Surely car insurance is there so that if your car gets stolen, they will put you back in the same car, less your excess. So I would go to my insurance company with 5 adverts all showing the current market value of an equivalent car and that's what I'm covered for??
Regular insurance will pay out their idea of the value of your car. It may be less than you think it's worth, and they will pay the least amount they can get away with - most usually the trade price.
GAP is usually a bit more flexible/open to negotiation and can provide the difference between a trade value and the actual cost of buying a replacement from a dealer.
GAP is usually a bit more flexible/open to negotiation and can provide the difference between a trade value and the actual cost of buying a replacement from a dealer.
Twinfan said:
I went with ALA's Vehicle Replacement Plus.
i thought this would be the best option too. not so much because i think the car will increase in value (is there really a chance of that happening?) but more because it will be a difficult car to replace - like for like - in several years time and an equivalent GTS at that time may be quite a bit more expensive depending on engine/spec and so on.still not quite sure exactly what would happen if - say in 4 years time - my car was stolen; for example the GTS that i recently became the lucky owner of is pretty well specified (for me at least) - F6, manual, buckets, ptv, sports suspension, GTS int pack, bose and so on. finding a car with that same spec is hard enough so how will they value the car at that point?
PhantomPH said:
Would I be being too naive to think that if the worst happened and my car was worth £5k more than when I bought it my ACTUAL INSURANCE would have to pay the market value out? Surely car insurance is there so that if your car gets stolen, they will put you back in the same car, less your excess. So I would go to my insurance company with 5 adverts all showing the current market value of an equivalent car and that's what I'm covered for??
when i questioned my insurance broker about this he said there is value in negotiating any settlement offer as , like Twinfan says, they will try and get away with as little as they can. apparently if you can prove that your car is worth more than they are suggesting then they will normally increase their offer, though i doubt it's ever likely to be as much as the car would cost to buy again.39sl said:
Regular reader and part time poster, thought I'd chime in and mention I'm now a GTS'r (if there is such a thing).
Been a BMW driver of all M cars for many years and decided to try something different before phoning through another order to the local BMW garage !!
I tried an F type and liked it but the poor residuals make any PCP a painful experience so my better half suggested a Porsche and there it was (I can't decided if 'it' is a he or she just yet)... Guards Red GTS from Wolverhampton OPC.
Drives wonderfully, feels fantastic and sounds glorious ... pick it up on Saturday so roll on the weekend
Congrats! I have seen that one, as Wolverhampton is my local OPC. Bet your excited.Been a BMW driver of all M cars for many years and decided to try something different before phoning through another order to the local BMW garage !!
I tried an F type and liked it but the poor residuals make any PCP a painful experience so my better half suggested a Porsche and there it was (I can't decided if 'it' is a he or she just yet)... Guards Red GTS from Wolverhampton OPC.
Drives wonderfully, feels fantastic and sounds glorious ... pick it up on Saturday so roll on the weekend
Im quite depressed, mine hasn't been used in months, the sight of the sun now is making me want to get it out.....the GTS that is!
JasonSteel said:
are you guys gap insuring your GTS?
if so, which type - Back to Invoice or Vehicle Replacement?
so i've been in touch with ALA and they can't offer me cover because the invoice i got from Porsche is showing the purchase as zero rated.if so, which type - Back to Invoice or Vehicle Replacement?
on the ALA GAP terms it states that:
ALA Insurance said:
If no VAT Invoice is present then We will pay back to the Glass Guide value of the Vehicle at the time of purchase.
isn't it normal for used car sales to be zero rated? and in any case i have a VAT invoice but it happens to be for a zero rated product...but they emailed me back to say:
ALA email reply said:
Thank you for your enquiry
We will be unable to use the invoice you have provided as it shows the VAT at 0. Therefore we would use the Glasses Guide retail value of the car at the time of purchase.
has anyone that has bought a used car bought GAP and do they know for sure that they are covered?We will be unable to use the invoice you have provided as it shows the VAT at 0. Therefore we would use the Glasses Guide retail value of the car at the time of purchase.
Dreds said:
I think the issue you have is that the original owner purchased the car with zero rated VAT (i.e. through a business) and hence the new car invoice has no VAT on it.
that may well be the reason but why does VAT even come into this?i've legitimately bought the car from an OPC and have a valid invoice showing the purchase price.
GAP insurance is available for used cars less than 7 years old bought in the last 180 days and so my car qualifies.
there must be others who have bought used and haven't had to pay any VAT? are they aware that the GAP insurance they have purchased is basically worthless (assuming the person dealing with me has got it right, which i still doubt)?
Mario149 said:
Piccy of me and my mate at Brands on Sunday at the bottom of Paddock Hill Compression baby! I f***ing love my BGTS
Click through twice as usual to get the proper res image
That's a picture to make into a poster..........(nice camera work for the photographer as well as the driver) Compression baby! I f***ing love my BGTSClick through twice as usual to get the proper res image
I love my Boxster too it has yet to fail to make me smile on a drive
AndyCGTS said:
What an absolutely brilliant photo, as above great photographer and great driving!
Haha! Thanks I can drive that car in a straight line down a hill like nobody's business 
On a serious note though, I'm normally unlucky with photos at track days, so it's nice that the photographer got a good shot
Twinfan said:
I'd speak to someone else and see what they say. Having never put GAP on a used car I don't know the answer I'm afraid.
The gap insurance I have is on my used car and they didn't make any such demands or raise such questions... try them ... gapinsurance.co.ukI'm nothing more than a happy customer
Cheers
Steve
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