Author Topic: GAP / Return to Invoice insurance.  (Read 3885 times)

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Offline Aidan

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  • Body: Hatchback
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  • Model: Mazda 3
  • Transmission: Manual
  • Trim: Tamura
  • Year: 2013
GAP / Return to Invoice insurance.
« on: August 02, 2009, 10:09:30 AM »
This isn't intended to be a dig at my dealership as I know they have a job to do, and I think I got about as much as I could out of them in the deal for my ex-demo Takara, but if you are offered the Mazda GAP / return to invoice insurance I would suggest you check comparable cover on the internet before committing yourself. I was told that the Mazda three-year return to invoice cover was normally £400 but they would let me have it for £299.00. I checked the internet and got a quote from AXA for £140 for the same level of cover. When I showed them the screen print confirming the internet price they dropped their price to £150 and I was happy to take it for that amount. >:D
2013 Mazda 3 1.6 Tamura (Gen2)
2008 Mazda 3 1.6 Takara saloon (Gen1)
1999 Rover 416
1995 Rover 414
1991 Rover 214 (when they were the same size  as the later 400s)
1987 Ford Escort mkIV  1.3
1981 Ford Fiesta 1.3L
1975 Ford Escort mk2 1.1
1971 Ford Escort mk1 1.1

Offline Ben_MPS

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Re: GAP / Return to Invoice insurance.
« Reply #1 on: August 02, 2009, 10:50:03 AM »
Nice one! Thats me £150 to the bad then, I'm sure I paid £300! Mine was for a brand new replacement though, not up to the price paid...

Offline BJ the exile

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Re: GAP / Return to Invoice insurance.
« Reply #2 on: August 02, 2009, 04:22:30 PM »
insurance on a new purchase is not as good as it seems. Personally what I do is to include legal cover on my policy, any short-comings/ excesses/ car hire/ out of pocket expenses/ donuts/ drinks/ wild women etc I sue the b.......s for the difference. Gap covers the difference in pay-out and what you owe, never trusted it.
What the legal cover or a wrench across the bonce can't recover is'nt worth the effort   ;D ;D.
My 14 year old son bought a toaster for us at Curry's once whilst we were in next shop, they tried to sell him a years service contract with it as well. 9.99 when it cost 19.00. Luckily for us he has seen us refuse such offers before ( lucky for Curry's he did'nt get as far as repeating what I usually tell them to do with the stupid insurance   ;D  )
"I am patient with stupidity but not with those who are proud of it."
 
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Offline Ben_MPS

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Re: GAP / Return to Invoice insurance.
« Reply #3 on: August 02, 2009, 06:53:01 PM »
Gap covers the difference in pay-out and what you owe, never trusted it.

They told me explicitly that it would cover the difference between my insurance write-off payout and the price off a new replacement car, not one of the same age as the one I had. I remember clearly as I questioned him on it and he even gave me an example like -  car gets written off at 18 months old, insurance pays out £10K, policy makes up the difference to the cost if a new like for like replacement (less any remaining finance commitment).  ???

Offline BJ the exile

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Re: GAP / Return to Invoice insurance.
« Reply #4 on: August 02, 2009, 08:29:35 PM »
Gap covers the difference in pay-out and what you owe, never trusted it.

They told me explicitly that it would cover the difference between my insurance write-off payout and the price off a new replacement car, not one of the same age as the one I had. I remember clearly as I questioned him on it and he even gave me an example like -  car gets written off at 18 months old, insurance pays out £10K, policy makes up the difference to the cost if a new like for like replacement (less any remaining finance commitment).  ???

  ........... " verbal contracts are worth the paper they are written on " ................  Samuel Goldwyn  1933

I carry a small digital recorder, very useful, even though not admissible in a court without permission given by other party at the time; the embarresment usually wins the arguement   ;D ;D
"I am patient with stupidity but not with those who are proud of it."
 
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Offline Ben_MPS

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Re: GAP / Return to Invoice insurance.
« Reply #5 on: August 02, 2009, 10:04:39 PM »
Well I'm in for 12month service tomorrow so will ask them. Will dig out the paperwork and have a look before I go in.

edit -
Just checked the policy and it is for top up to the "net invoice price" i.e. what I originally paid for the car.
« Last Edit: August 02, 2009, 10:20:52 PM by Ben_MPS »

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Re: GAP / Return to Invoice insurance.
« Reply #5 on: August 02, 2009, 10:04:39 PM »