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Old 16-01-2009, 12:13 PM   #11
Frothey
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i dont know of a gap policy that covers accessories.

they normally cover you for 3 years - there's also different levels of cover (ie 5k gap, 10k gap, etc,etc). return to invoice GAP is normally only on cars up to 3 months old, after that it's return to value (determined by the insurance co) so (as always) check the small print.

you can get it as little as £90, most dealers are around £300 but the policy is sometimes a little more "transparent" but that depends who you are dealing with..... i know some of the GAP policies cost the dealer nearly £200!

the other thing is to check your insurance policy - some policies are "new for old" in the first year anyway for new cars.

and dont think for a minute that just because a car has halved in price in 3 years, it isnt going to carry on! in "normal" times the retail price halves every three years anyway.....
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Old 16-01-2009, 01:05 PM   #12
eshrules
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if you're taking a car on finance, GAP is a must.

Gap is pretty self explanatory. If you owe £10k on a car which is involved in an accident and becomes an insurance write off, gap will cover the difference between the insurance payout (for example, £8k) and the total repayable (in this example, £10k).

you'd otherwise have to make the £2k 'gap' up yourself.

PPI is payment protection insurance and has differing degrees of protection. From memory, it will cover against Accident, sickness, life and redundancy, the more the policy covers, the more expensive it will be.

Two things you should bear in mind in regards to PPI, if the risk/possibility of redundancy has been announced at your company, the redundancy cover will be void.

the second thing to check is the extent of the cover, most policies have a minimum period for you to be out of work for and will have a maximum claim limit.

As with all finance, make sure you do get the GAP, IMHO, it shouldn't even be an option. read the small print carefully and you'll be fine
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Old 16-01-2009, 02:15 PM   #13
bannan
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I've never known GAP to cover sickeness or illness but there might be a product that specifies that. I have personally claimed on a GAP policy before and did pay the interest on the finance so there are different types of GAP insurance

this may help on the different types http://www.click4gap.co.uk/products.asp

I would never buy GAP on a dealer as they normally charge more for it when you get better cover online. Same applies to dealer warranties.
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Old 16-01-2009, 02:45 PM   #14
Frothey
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GAP is totally different to payment protection - i'd be VERY wary of anything that does include it
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