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S60 & V60 '18> / XC60 '17> / S90 & V90 '16> / XC90 '15> General Forum for the SPA-platform 60- and 90-series models |
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Delivery NewsViews : 75340 Replies : 617Users Viewing This Thread : |
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May 26th, 2022, 16:11 | #11 | |
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Last Online: Jan 22nd, 2024 16:10
Join Date: Oct 2018
Location: Ashbourne
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Quote:
Which? says: "Generally speaking, GAP is likely to be worthwhile in the following situations: You used a large loan to buy your vehicle Gap insurance can offer a means of paying off outstanding finance on your car, which means if your car’s stolen or damaged beyond repair you won’t have to continue to make payments on it. You’re concerned about the depreciation of your vehicle The quicker your car loses its value, the less your insurer will pay after a total loss incident, compared to what you paid for it. Gap insurance means you’ll get more back. Your car is on a long-term lease If you have a long-term rental agreement for a vehicle with a mileage allowance, a write-off could leave you without a car and a bill for thousands of pounds. Gap insurance can help protect against this." As I explained, I don't currently use leasing or finance so that leaves depreciation as the only possible justification. And at the moment my car isn't depreciating significantly. I accept this is highly unusual and probably won't continue. Dealers offering GAP insurance at the same time as huge discounts (eg almost 40%) is therefore a bit of a contradiction. The cheaper insurance options may well make rather more sense.
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