Gap + Alloy & Cosmetic for Leased Cars: What should I know?
Discussion
Pistonheadsdicoverer said:
WDYM
A quick Google search shows that there's a lot of them around
Around 80% of GAP products have been voluntarily suspended from sale due to FCA investigations into poor value for money.A quick Google search shows that there's a lot of them around
https://www.fca.org.uk/news/press-releases/gap-ins...
If you’re leasing a brand new car, most fully comp policies offer replacement vehicles in the first year in the event of a full write off, so GAP is not so crucial.
As mentioned above, GAP is currently going through a bit of a sticky wicket, so there aren’t many policies around anyway.
Tyre and wheels, just stick some cash in a pot, if you use it, okay. If you don’t use it, it’s still yours.
As mentioned above, GAP is currently going through a bit of a sticky wicket, so there aren’t many policies around anyway.
Tyre and wheels, just stick some cash in a pot, if you use it, okay. If you don’t use it, it’s still yours.
I will probably have a few more wheel scuff than you.Don’t bother with any of it.
I know from a business perspective that the lease companies and their collection agents are surprisingly lenient on alloy scuffs and minor scratches. The BVLRA (???) have a guide with measurements allowed at end of leased and I remain quite surprised at what is accepted as wear and tear.
Unless you take the piss. And most complaints about termination charges seem to arise from people that take the piss.
I know from a business perspective that the lease companies and their collection agents are surprisingly lenient on alloy scuffs and minor scratches. The BVLRA (???) have a guide with measurements allowed at end of leased and I remain quite surprised at what is accepted as wear and tear.
Unless you take the piss. And most complaints about termination charges seem to arise from people that take the piss.
BikeSausage said:
Don’t bother with any of it.
I know from a business perspective that the lease companies and their collection agents are surprisingly lenient on alloy scuffs and minor scratches. The BVLRA (???) have a guide with measurements allowed at end of leased and I remain quite surprised at what is accepted as wear and tear.
Unless you take the piss. And most complaints about termination charges seem to arise from people that take the piss.
There's no certainty though and that's what bothers me. I read on PH about the horrors of end-of-lease fees and am trying to mitigate any bad surprises. Also what do you mean by termination charges?I know from a business perspective that the lease companies and their collection agents are surprisingly lenient on alloy scuffs and minor scratches. The BVLRA (???) have a guide with measurements allowed at end of leased and I remain quite surprised at what is accepted as wear and tear.
Unless you take the piss. And most complaints about termination charges seem to arise from people that take the piss.
Pistonheadsdicoverer said:
There's no certainty though and that's what bothers me. I read on PH about the horrors of end-of-lease fees and am trying to mitigate any bad surprises. Also what do you mean by termination charges?
I just mean charges for scuffed alloys, scratches etc. Probably the wrong term. If you're prone to kerbing alloys and bumping bumpers and are also prepared to do a little dance, pay an excess and jump through some multi coloured hoops every time you wish to claim... The dealer offered Alloy and cosmetic insurance is perfect. Other options include paying a bodyshop directly for a smart repair of wheels/bumpers if required.
Gap insurance (when not bought from dealer) can be good value. But remember year 1 your normal insurance company will likely pay out full value for a new car.
This article from the regulator is a good start if you've never leased before:
https://www.bvrla.co.uk/resource/returning-your-le...
For me, in most cases returning a car with damaged bumper or alloys has been far cheaper than repairing or purchasing an additional insurance product. At the end of the day any insurance product is designed to create profit for the company. Helping you is secondary.
Gap insurance (when not bought from dealer) can be good value. But remember year 1 your normal insurance company will likely pay out full value for a new car.
This article from the regulator is a good start if you've never leased before:
https://www.bvrla.co.uk/resource/returning-your-le...
For me, in most cases returning a car with damaged bumper or alloys has been far cheaper than repairing or purchasing an additional insurance product. At the end of the day any insurance product is designed to create profit for the company. Helping you is secondary.
Edited by smallpaul on Wednesday 10th April 18:26
Read the small print on alloy wheel insurance.
There’s usually a ££ limit on a replacement wheel and you may have to use their recommended repairer for kerb damage and whatnot which is fine but they may have to have your wheel for upto 10 days to do the repair. No fun if your car doesn’t have a full sized spare.
I had it on a previous car and cracked an alloy. The firm was very good in dealing with the claim but the max they’d pay was £150 towards replacement. It was all there in the terms and conditions so no grounds for complaints but when a replacement wheel was over £600, it stung a bit.
Wouldn’t bother with it again.
There’s usually a ££ limit on a replacement wheel and you may have to use their recommended repairer for kerb damage and whatnot which is fine but they may have to have your wheel for upto 10 days to do the repair. No fun if your car doesn’t have a full sized spare.
I had it on a previous car and cracked an alloy. The firm was very good in dealing with the claim but the max they’d pay was £150 towards replacement. It was all there in the terms and conditions so no grounds for complaints but when a replacement wheel was over £600, it stung a bit.
Wouldn’t bother with it again.
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