Reply With QuoteI went with ALA who are recommended over on Pistonheads.
I think code PISTON12 will give her some money off. I paid around £250 on a £40k car
My daughter collects a new VW T-Roc tomorrow. The dealer wanted to sell her theirs at £450. I told her we would shop around.
Does anyone have any experience of purchasing independent of the main dealer, there seems to be plenty of offers out there.
Any advice/direction would be appreciated
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I went with ALA who are recommended over on Pistonheads.
I think code PISTON12 will give her some money off. I paid around £250 on a £40k car
Last edited by craig1912; 12th December 2019 at 18:53.
I went with Admiral - £200 to cover 3 years, even payable in 10 x £20 instalments! Quote from VW was £399 for 2 years!
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quite right to shop around, all do pretty much the same job and a lot of people who I have dealt with (having vehicle's written off) have benefited greatly from having it especially on the high value vehicles.
Used ALA in the past and when I changed car, they transferred the remaining life of the policy to my new car. Very helpful and are well recommended by Pistonheads.Originally Posted by craig1912
Yup ALA is the go-to for many of the M3cutters forum members
Why buy in the first place?
pays out the difference in what you owe ( finance) and what the insurers pay / value the car at in the event of a total loss , I have seen it cost people thousands who don't have it and save them thousands those who do , but its only any good if you have/need to claim!
you pays yer money or takes yer chance :-)
I’d imagine it’s pretty hard to write off a brand new car. And if you do you still get market value.
Most insurance companies pay out for a brand new car in the first 12 months so you only really need cover if you are bothered from year 2.
I wouldn't waste my money on it but your choice.
Most comprehensive car insurance policies will offer new car replacement. We checked Defaqto, and out of 363 comprehensive policies, 94% offered new car replacement cover as standard
Last edited by mjc1216; 12th December 2019 at 22:50.
Yep most offer new car replacement in first 12 months but after that GAP is useful- mines back to invoice for years 2 onwards and car isn’t available anymore so it would give me a useful amount to buy a new car. For a relatively small amount I personally thought it was worth it.
Just got my first new car and found out my insurer (AA) does not do new for old in the first year, guess they're the 6%
I'd rather not owe new car money for an insurers valuation of a used car.
Go to ALA and use code MSE25 for 25% off. Cost me £100 in 10 installments for a £25k car
Thanks for the partisan rep. Excuse me if I ask you to FYO.
Eh? I am partisan, i leased a new car which arrived last week, my insurer told me i wasn't covered new for old, i went to ala as they are recommended on pistonheads and mse. Mse give a 25% off code.
Just to add, as someone who's wife wrote off their lease car last Friday, i can understand why some people might want the security of gap. Didn't get it for the wife, but thankfully she's near the end of her lease so insurance payout should equal what's owed
Ala recommended too
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bear in mind , new cost , market value , owners perceived values are separate values and may vary wildly !
I had a disaster in this space a couple of months ago.
My 17 month old car was stolen from my drive. My gap insurance supplier went bust a couple of days beforehand.
No coverage, therefore £16k down the pan.
I bought Admiral when I got the replacement as I'm more sure they won't go bust.
That is a problem with GAP Insurance as it's quite often offered by the shoddier, less stable 'insurers'. Was yours covered by the FSCS? You'd get 90% of the claim paid if so.
It was covered. But they'd sent me a note to tell me my coverage was cancelled and refunded the rest of my policy.
Don’t really understand this. Would a 17 month old replacement car really cost £16k more than your payout?
It was a relatively expensive car.
A year and a half of depreciation was £16k.
Not complicated.
Maybe it is, you haven’t answered my question.
No, clearly. But had I gap insurance that worked I'd have the £16k.
hope you don't mind guinea my reply
on a say 60 K car new , 16 k devaluation in 17 months is not unusual,( can also depend on mileage covered) its not a replacement car its the market value of the car that was stolen, like I said
bear in mind , new cost , market value , owners perceived values are separate values and may vary wildly ! I will add what people owe on finance
Last edited by mitch1956; 13th December 2019 at 18:53.
Not querying the devaluation but that w/o gap insurance anyone will really be 'down' (if market value is real and fair), unless they want to replace the old car with a brand new one.
AH ok, will anyone be "down" yes because the usually car devalues ( even a fair market value)far quicker(generally the higher the value the car the more it loses unless its a LTD edition Ferrari :-)) than the outstanding finance ,remember you are still paying the new car price off , so say after two tears the market value is £10 K but you still owe £15K as its the full new car cost you are paying off ( as monthly repayments are less than the monthly devaluation of the car).I see daily it been invaluable and also see the hurt when people don't have it! I have also dealt with cases were the car is 13 month old and its been a total loss or stolen and new car replacement has not been applicable!
Surely, it wouldn't be anyway would it ??
Having recently gone through an FCA derived world of pain on Treating Customers Fairly, even when as a reinsurer we’re not retail customer facing, I’d wonder if a complaint to the Insurance Ombudsman might be worth a punt?
Sounds shoddy even by GAP insurer standards.
no you are right, I was merely trying to highlighting some people are unlucky and just miss out on a new car replacement and gap insurance may be a worth while facility .
also not sure FOS would be any good/ help when a insurer has gone bust ? which I believe the poster had mentioned why he got a refund?
To add to this. When did they cancel the policy? Before or after you tried to register a claim.
Every FCA authorised firm for retail insurance products will be covered by the FSCS. I’d get a complaint in and then goto the ombudsman. Treating customers fairly is a dream for customers, nightmare for business as thebuffoon says
Just an update. The best she could get through ALA and others with discount was £210 for 3 yrs. When she went to collect her car the dealer was able to beat the lowest price(now there’s a surprise) not bad to say their opening price was well over £400
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