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Nurse Juju
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I'm just wondering what you guys thought of VRI that the dealer is trying to sell me for £199. If within the 3 years of owning my Stepway, I write it off or I suppose extremely damaged then the policy would give me a new car.

I can be gullible :unsure: so what i'm seeking out are your honest opinions are on it and if its a good idea or a money spinner for the dealers. Also to see if anyone else has taken out this kind of insurance policy.

Or is it the new PPI rubbish :angry: .

Juju
 

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If you are taking finance then this can be a good plan because the car value falls faster than you are paying it off.

If you trash the car then you might not get enough insurance payout to cover the finance.

Sent from my Nexus 7 using Tapatalk HD
 

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I didn't go for it JuJu. If I total the car in 3 years time, I will get what a 3 year old Duster is worth, the same as if I sell it on anyway, so I haven't lost anything. BMW tried to sell me the same thing 3 years ago when I bought a Mini but I would have lost money as the car was never written off or stolen.
 

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For peace of mind I am considering 3 years GAP insurance for £110.00, not from the dealer but from the Auto Trader site.

****
 

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I agree with taking GAP out from a third-party and not the car dealer. I think I will go with RTI (return to invoice) for the simplicity.

I was quite disappointed after telling my local salesman how good he was not trying to up-sell me (to a Clio, Laureate or diesel) when he tried to sell me this GAP insurance for £399.
 

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GAP cover is certainly not a bad option on a new car, wouldn't touch it for second hand. If you buy brand new for £10k then they can't argue it's value when you bought it.

I've known of someone buy a car for £4k, within 2 weeks it was rear ended and totalled. The insurance offered something like £3,200 so she contacted her GAP cover. They estimated that the car was never worth £4k and they offered her less, she couldn't get them to budge so she still lost out even though she paid X amount for that cover. :(

If you are taking finance then this can be a good plan because the car value falls faster than you are paying it off.
That would depend on how much you pay per month and the deposit you put down though. I don't mind finance on cars but I'd rather put down a deposit that covers the VAT and then a good amount monthly so that within 3-4 years you own the car and still retains a decent value.

Certainly agree that if you're paying off at a minimum cost, it's worth having the peace of mind that if the car is written off you get the money to buy one at the same value.
 

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Nurse Juju
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Discussion Starter · #7 ·
With this offer it's exactly £199 but the cover is for only 3 years.

Does gap insurance work out the same for 3 yr period only or for the term of the car, sorry but nt so savvy with this sort of thing.
 

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Hi Juju Beanz

This is a link to the site I have used (there are others available though many seem to be another version of this).

http://www.autotrader.co.uk/gap-insurance

You can get a quote without putting in your personal details and can also vary the maximum amount they will pay.

Hope that helps

****
 

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Nurse Juju
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Hi Juju Beanz

This is a link to the site I have used (there are others available though many seem to be another version of this).

http://www.autotrader.co.uk/gap-insurance

You can get a quote without putting in your personal details and can also vary the maximum amount they will pay.

Hope that helps

****
Thank you ****, I just checked it out and it'll only cost me £90 for the same cover for up to £7500 cover. Yea, i think Gap insurance will be for me for some peace of mind
 
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