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Dealer Quoted me £900, gap quoted me £240 (3 years),Dealer matched it without even proof of the other Quote...


That's how much Dealers have to play with... and more
 

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+1 There Phillskill

I had to laff - This is a real experience that happened on Saturday Morning.Sat with my son in BMW showroom and the finance guy came out to do the paperwork.
He "INSISTED" that BMW could match what we had been quoted.
I told him we had 4 year GAP cover - Replacement vehicle (Not back to invoice) - So Top Cover.
He said he could smash what we had......i'm gonna have to tell you now but we got the policy for £191.00 on a 26k BMW.......he laffed and walked away and said "just hold on a tick".
He had the nerve to come back and say QUOTE: "I've checked this company out at Companies house to see if they can back up what they say - and fair play - you have done your homework well and they are a very stable company who will serve you well"
I nearly choked on my coffee!!!!
He'd actually been and checked them out ?????
He said he couldnt get anywhere near the price, but said carry on as they are very reputable.
Which was obviously great to hear but i couldnt leave it there.......i asked - "out of interest - how much is the same cover with you"..........
He replied £799.00..............I just said to him "Thats why you sell cars and they sell insurance"
He started very arrogant and ended up very humble - I think i won that one




Edited by: Spiderman
 

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S-M that story is so funny. I am defo gonna check out gap. My Evoque has been built. I might actually get it b4 Xmas.
 

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Although I got a quote from gap insurance, I went with car2cover in the end.

They were cheaper than the sponsor on here, recommended by Which? and offered the whole suite - smart, tyres, alloys and of course gap.
 

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Discussion Starter #65
PhilSkill said:
Dealer Quoted me £900, gap quoted me £240 (3 years),Dealer matched it without even proof of the other Quote...


That's how much Dealers have to play with... and more
Just be careful with this... Motor Dealers have a habit of leaving the GAP insurance showing at full price on the final invoice and instead, reducing the price of the car by the amount of discount they agreed to take off the GAP insurance.

When you consider that the dealer's policy is almost always only an Invoice GAP insurance policy, this approach will leave you out of pocket at the time of any claim, courtesy of the fact that an Invoice GAP insurance policy aims to get you back to the original price that you bought the car for AFTER all discounts were applied.

So for example, lets say you agreed to buy a car for £35,000 and they quoted you £900 for the GAP but then agreed to reduce it by £660 to £240, it's often you'll find that your invoice will show £34,340 for the car and £900 for the GAP insurance still. Whilst this ends up with you having paid £35,240 for the car and GAP combined (the same as £35,000 + £240) at the time of any claim on that policy, you'll likely find that it's only ever going to cover you to the £35,240 that your invoice shows you paid for the vehicle itself and you'll be £660 out of pocket.

Check your invoice!! If it's not structured like this, you have little to be concerned about, but if it is (E.g. if their policy shows on your invoice at £900), you can actually use it to your advantage by cancelling their policy, receiving a refund of £900 (assuming you're still within your cooling off period - though if you're not, even with their small cancellation fee you can still end up quids in) and then using some of that to buy a policy from us (or indeed any cheaper provider) and if you really want to push the boat out, you'd step up to Replacement GAP insurance rather than just Invoice GAP insurance.

Food for thought at least! :)
 

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Discussion Starter #66
ChrisinCheshire said:
Although I got a quote from gap insurance, I went with car2cover in the end.

They were cheaper than the sponsor on here, recommended by Which? and offered the whole suite - smart, tyres, alloys and of course gap.
I haven't done a thorough price comparison with Car2Cover for a while now, but it's normally unusual for them to be cheaper than us so I'm a little concerned that you may not have compared like-for-like. Our policy is superior to theirs though, so they may have changed their prices accordingly.

I wouldn't have been able to assist you with the other products though. They are on the way, but our focus and expertise is primarily GAP insurance.

For the record, we too are featured by Which? (along with almost every other online GAP insurance provider) in their GAP insurance Review which has been an almost annual thing since (so far as I recall) March 2013.

Their Invoice GAP insurance review is here: http://www.which.co.uk/money/insurance/guides/gap-insurance/return-to-invoice-gap-review/

Their Replacement GAP isurance review is here: http://www.which.co.uk/money/insurance/guides/gap-insurance/vehicle-replacement-gap-review/

(Note that Which? found us to be cheaper than Car2Cover on both policy types for their chosen criteria
)

Best wishes

David
 

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Hi guys. I purchased a policy with this company today. Louise was very helpful on the phone. Thanks gapinsurance.co.uk

Billy
 
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