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Discussion Starter #1
Im due to pick my GTR up on Wednesday :clap: The Long wait is nearly over :D Has any of the HPCs offered GAP Insurance when youve picked up your GTRs and if so any detail on what is offered :thumbsup:

Thanks in advance

CJ
 

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CJAy,

You are better with RTI insurance (Return to Invoice)

GAP will only pay out the difference between what they pay out and the finance outstanding if you need to claim.

RTI is simple it pays out the difference between what they pay out and the original invoice price of the car (So you can start again without any dramas)

Be careful though some policies only cover cars up to a certain level (50k) and some also have a 20k limit on payout.

Shop around for the best deal.

Good place to start is - GAP insurance online

53k Car (Pre Price Increase) with 20k cover should be circa £235-£240 for 3 years cover.

DO NOT buy from the stealers or finance house they will charge you through the nose (400 - 500 quid)

Regards

ScottyB
 

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Discussion Starter #4
CJAy,

You are better with RTI insurance (Return to Invoice)

GAP will only pay out the difference between what they pay out and the finance outstanding if you need to claim.

RTI is simple it pays out the difference between what they pay out and the original invoice price of the car (So you can start again without any dramas)

Be careful though some policies only cover cars up to a certain level (50k) and some also have a 20k limit on payout.

Shop around for the best deal.

Good place to start is - GAP insurance online

53k Car (Pre Price Increase) with 20k cover should be circa £235-£240 for 3 years cover.

DO NOT buy from the stealers or finance house they will charge you through the nose (400 - 500 quid)

Regards

ScottyB
Thanks Scotty... I think you have answered it for me, I have researched GAP on line and you are quite right about GAP / RTI and the limits on value of car etc etc and I guess the stealers add there bit onto the quote if purchased from them. Thanks again for reply and answering what GAP is for the other user :thumbsup:.

CJ
 

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Thanks Scotty... I think you have answered it for me, I have researched GAP on line and you are quite right about GAP / RTI and the limits on value of car etc etc and I guess the stealers add there bit onto the quote if purchased from them. Thanks again for reply and answering what GAP is for the other user :thumbsup:.

CJ
No problems mate,

That is what the forum is all about.

Regards

ScottyB
 

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Hmm...... from that Gap Insurance Online website, it seems to cover the car under £58,800 invoice price, it would cost £238 for a three year cover with maximum payout of £20,000.

God forbid a write off on the third year, how much would approximately would the GTR be worth?
 

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Discussion Starter #7
Only a Guide I know until the GTR has been around long enough, some estimated values:

Year 1 = £43,963 / Year 2 = £40,029 / Year 3 = £35,661

So on those depreciation values the £25,000 which some sites offer will return you to invoice value.

Gap Insurance from Directgap.co.uk


£258.00 for 3 years cover.

Rgds CJ
 

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Only a Guide I know until the GTR has been around long enough, some estimated values:

Year 1 = £43,963 / Year 2 = £40,029 / Year 3 = £35,661

So on those depreciation values the £25,000 which some sites offer will return you to invoice value.

Gap Insurance from Directgap.co.uk


£258.00 for 3 years cover.

Rgds CJ

Yeah i would go for the 25k cover just to be on the safe side, those figures look good.

Another rough indicator for those using finance is the settlement figure at the end of your term, the value of the car is never too far away from this.

I swear by RTI.

I had my new BMW M3 stolen last summer from Aberdeen it was only 8 months old and with all the toys cost me 58k.

The insurance offered me 40k as the backside dropped out of the M3 market with the SMG and Convertable being launched just after i purchased.

Thank god for RTI because an 18k hit in 8 Months was a real shafting!!!

Regards

ScottyB
 

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I believe the GAP insurance being offered by RCI, when financed with RCI, included RTI for the first three years. This differs from most finance captives which only offer 6 months or 1 year RTI.
 

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Could I suggest you try GAP Insurance underwritten by AXA Insurance (UK) plc. which is the official page for AXA Gap insurance. Unlike most they offer a replacement value service, so if like me it would cost you more than you paid to replace your GTR then this policy will add the extra and put a brand new GTR on your drive (subject to finding a car of course!)

They also offer up to £25,000 cover on a 3 year policy and are cheaper than anywhere else I could find.

Hope that helps
 

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Could I suggest you try GAP Insurance underwritten by AXA Insurance (UK) plc. which is the official page for AXA Gap insurance. Unlike most they offer a replacement value service, so if like me it would cost you more than you paid to replace your GTR then this policy will add the extra and put a brand new GTR on your drive (subject to finding a car of course!)

They also offer up to £25,000 cover on a 3 year policy and are cheaper than anywhere else I could find.

Hope that helps
Thanks for the link:thumbsup: That looks like a very good deal?

Dave.
 

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Could I suggest you try GAP Insurance underwritten by AXA Insurance (UK) plc. which is the official page for AXA Gap insurance. Unlike most they offer a replacement value service, so if like me it would cost you more than you paid to replace your GTR then this policy will add the extra and put a brand new GTR on your drive (subject to finding a car of course!)

They also offer up to £25,000 cover on a 3 year policy and are cheaper than anywhere else I could find.

Hope that helps
Great find. I'll be sure to check this closer to delivery time. Thanks!
 

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Discussion Starter #13
I looked at the AXA replacement GAP policy and it is good but only on Year 1 & Year 2 (due to depreciation value - projected) and of course depending on the Cost of a New GTR which has already risen, if it rises again the 25k is short of what you need :nervous:


GTR Depreciation:
Year 1 = £43963 / Year 2 = £40,029 / Year 3 = £35,661.

CJ
 

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I went with the Axa policy also. Even though it may be a bit short at the end of three years, 25k for a £250 policy is not bad.

I normally wouldn't buy GAP insurance, but with the GTR parts being the price they are, you could write your car off with a bad shunt. Better to be safe than sorry with this one!
 

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CJ - You may be right - but the AXA is going to get you closer to the replacement price than any of the alternatives I found (and I had time to do some serious searching). Of course, if you find a better deal you must let everyone know, but it's not a bad starting point - considering the deals a lot of the finance companies are offering!

Personally I think that with used car prices rising at the moment then the depreciation of the GTR won't be as bad as some are predicting. And lets face it - if you right off a 3 year old car and get a payout that is within £1000 of the replacement cost you've not got too much to moan about. I'know I'll be parking mine in the most unsavoury places when it's past 2½ years old!!!!!
 

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I paid £192 today for £25k Gap Insurance (Return to Invoice) for 4 years combined with Finance Insurance (not really useful but included) today with Jigsaw Finance. Will Thorley sorted me out.

I was on the train to pick up my car, so may have missed something. I was expecting to pay £250, but got £192, but i'll confirm the details when i get my policy through.
 

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Discussion Starter #17
I think the Gap Policys we have all mentioned are good as long as you know what you are buying then its not a problem and you get No Nasty shocks if you were unfortunate enought to have your GTR written off :mad:

I think (Hope) the GTR residuals do fair well and actually I think they will because of the reputation of this car already which from my experience isnt always reflected accurately by Glasses or CAP in the early stages of a Cars life :thumbsup:

I will probably go for the AXA policy (Replacement) because the cost over the RTI policy is minimal and obviously the likleyhood is it will get you back to a New car without cost whereas the RTI policy may not depending on residuals etc.

CJ
 

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I paid £192 today for £25k Gap Insurance (Return to Invoice) for 4 years combined with Finance Insurance (not really useful but included) today with Jigsaw Finance. Will Thorley sorted me out.

I was on the train to pick up my car, so may have missed something. I was expecting to pay £250, but got £192, but i'll confirm the details when i get my policy through.
This is a very good deal for those of you that have paid the latest price for your cars - but I understand that there's another price increase happening in Jan (?) - so a return to invoice settlement is still going to leave you short to buy a brand new car at full rrp.

If like me you paid the original price, then the problem is that the closest new replacement car I could buy would be at the higher price, plus premium cost for UMS paint, plus the extra for the sat nav model. This all adds up to more than £6k than I paid for my car :D, so it's a no brainer for me - it must be a replacement policy!
 

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This is a very good deal for those of you that have paid the latest price for your cars - but I understand that there's another price increase happening in Jan (?) - so a return to invoice settlement is still going to leave you short to buy a brand new car at full rrp.

If like me you paid the original price, then the problem is that the closest new replacement car I could buy would be at the higher price, plus premium cost for UMS paint, plus the extra for the sat nav model. This all adds up to more than £6k than I paid for my car :D, so it's a no brainer for me - it must be a replacement policy!

Now you've got me thinking!! So how much for a replacement policy?

Does the replacement policy mean you HAVE to take a replacement car or do you still get the cash and can decide what to buy?

I've just emailed Will @ Jigsaw to see if they offer a Replacement product and how much it is.
 

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Misters3

Try the link to AXA in my earlier post - they give you the option of RTI or replacement so you can compare like for like with other providers.
 
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