GAP
Re: GAP
I have GAP on the Audi - I know it will depreciate quite a lot so RTI for a few hundred quid seemed like good value in the event of it being written off.
The FCA seem unhappy with the level of commission rather than the product, though the product itself was always my bugbear (you don't have an insurable interest up to the new replacement price, and most insurers will pay for a new car if written off in the first year even without GAP) but it is an established market. Not so established that everyone knows to buy direct from ALA with a code though; or at least get a quote from there and ask the dealer to match it as a I did with my Audi (they actually beat ALA's discounted quote in fact).
GAP which covers the difference between the finance settlement figure and market value is a genuinely useful product though; the problem is that it really ought to be something covered by normal insurers if you inform them your car is on finance.
The FCA seem unhappy with the level of commission rather than the product, though the product itself was always my bugbear (you don't have an insurable interest up to the new replacement price, and most insurers will pay for a new car if written off in the first year even without GAP) but it is an established market. Not so established that everyone knows to buy direct from ALA with a code though; or at least get a quote from there and ask the dealer to match it as a I did with my Audi (they actually beat ALA's discounted quote in fact).
GAP which covers the difference between the finance settlement figure and market value is a genuinely useful product though; the problem is that it really ought to be something covered by normal insurers if you inform them your car is on finance.
Re: GAP
I took it out on the M3 as its value is probably through the floor already and thought it was well worth the few hundred quid. But like Jobbo, its hard to feel like I'm paying for something that should already be covered by my insurance.
Cheers,
Mike.
Mike.