Whats your opinion on GAP?

[redbarron84]

hey guys.

Picking up the cv8 in a couple of weeks and the dealer (as they always do) offered me GAP insurance for 350 quid. Now i've never taken it with any of my other cars, but then again none of my other cars cost 19 grand, so i'm wondering if it's worth getting it?

Any opinions would be helpfull.
Cheers

[greens vauxhall]

Depends on whether it is financed, if you pay a low deposit and write your car off, then it is likely you will owe more than the car is worth. There are a number of 'levels' of cover. Invoice value is the one you want to go for, especially if paying 19k for an 04 CV8. For £350 (for 3years i assume ?) it is something of a peace of mind bargain, especially in this weather!!!

[redbarron84]

greens vauxhall said:

Depends on whether it is financed, if you pay a low deposit and write your car off, then it is likely you will owe more than the car is worth. There are a number of 'levels' of cover. Invoice value is the one you want to go for, especially if paying 19k for an 04 CV8. For £350 (for 3years i assume ?) it is something of a peace of mind bargain, especially in this weather!!!

That sounds about right, but there is two diffrent types, (Retail Price Protection GAP) and (Financial Shortfall GAP) it sounds like your talking about the first one, but it says in my lovely little broucher that if you are paying finance (which 10 thousand of it is) then it says that the financial shortfall is the one to go for. However I agree with you as the one to go for, besides 350 quid for three years for a 19000 pound car does make sense.

[greens vauxhall]

If you are only funding 10k then shortfall should never happen and the money would be wasted. RPP is the way to go in this instance.

[redbarron84]

Thanks alot for the help, really appreciated.

[after_shock]

Dont get the finance one but definately get the return to invoice GAP, totally invaluable if the worst should happen.

For £350 they will probably be offering you £10k worth of cover, try and negotiate the £25k cover for the same price especially if you plan on kepping the car for a few years, if not get the price under £300 for the standard one, should be easy enough oh and pay cash for it so your not paying interest on it on the finance!