[The0pportunist]

Is there any reason why i SHOULD get gap insurance from BMW? Are there any benefits using them or am i ok to use companies like directgap.co.uk, it looks like its just another generic insurance product but i can't find clear cut answer online!

These guys are half the price compared to what bm quoted.
https://www.directgap.co.uk/get-a-quote/

Please let me know if theres any others i should check out too!

THANKS

[djgandy]

No benefit. If they can't do 4 years for circa £200 then just get it elsewhere.

I used ALA aka pistonheads gap. You can also get a quote elsewhere and they'll match.

£50 a year for return to invoice, worth the peace of mind.

[TrAcK TRaP]

Dont..

[The0pportunist]

Originally Posted by djgandy

No benefit. If they can't do 4 years for circa £200 then just get it elsewhere.

I used ALA aka pistonheads gap. You can also get a quote elsewhere and they'll match.

£50 a year for return to invoice, worth the peace of mind.

Thanks mate, i was hoping you would say that!

[The0pportunist]

Originally Posted by N54CherryHill

Dont..

Dont.... ?

[TrAcK TRaP]

Originally Posted by The0pportunist

Dont.... ?

Gap insurance is useless thats all I can say.. Just get a good full cover insurance..

[djgandy]

Originally Posted by N54CherryHill

Gap insurance is useless thats all I can say.. Just get a good full cover insurance..

What good is full cover insurance when the glass's guide says your car is worth £20k and that's all they'll pay out, but it will cost you £25k to replace it? Or if you have a £5k finance hole?

[TrAcK TRaP]

I don't know how things are outside of USA but my friend here had an accident and totaled the car he financed the car for 5 years (without down payment) had an accident after 2 years car was worth it 16K but he owes 19K and his insurance paid it off.. Same thing happened to my cousin as well. No gap insurance..

[The0pportunist]

Originally Posted by N54CherryHill

Gap insurance is useless thats all I can say.. Just get a good full cover insurance..

Are you taking about gap insurance company refusing to pay?

I'm thinking if the car is written of in 3 years, it will probably be worth half the price i paid today, but with gap insurance it will bump it up to original invoice price paid, worth it i think? Subject to gap insurance paying up, but why wouldn't they?

[TrAcK TRaP]

Originally Posted by The0pportunist

Are you taking about gap insurance company refusing to pay?

I'm thinking if the car is written of in 3 years, it will probably be worth half the price i paid today, but with gap insurance it will bump it up to original invoice price paid, worth it i think? Subject to gap insurance paying up, but why wouldn't they?

Hey its your car just to make yourself feel comfy just get it. I never had it non of my car and never will..Ones again your car your call..

[The0pportunist]

Originally Posted by N54CherryHill

Hey its your car just to make yourself feel comfy just get it. I never had it non of my car and never will..Ones again your car your call..

I get what your saying though, gap is useless if the car is written off early in ownership. 9 out of 10 i will never need it, but on the off chance something happens 4 or 5 years down the line, I've effectively driven the car for 4-5 years and sold it for the same price.

**Touch wood nothings happens**

[TrAcK TRaP]

Originally Posted by The0pportunist

I get what your saying though, gap is useless if the car is written off early in ownership. 9 out of 10 i will never need it, but on the off chance something happens 4 or 5 years down the line, I've effectively driven the car for 4-5 years and sold it for the same price.

**Touch wood nothings happens**

Don't hold me responsible for this bro but just purchased a car for my dad they pushed us so bad to get a gap for extra $7 a month and I said its a no no. They went down to $5 and finally $4 a month. I told them that I don't even want it for free

[djgandy]

You've just bought a 640d right? If you spent over £25k I'd probably go for it. As I said you can get 4 years for cheap.

There are a lot of BMW thefts these days and on high end cars it doesn't take much to tot up a huge repair bill where an insurer may just want to write it off.

All this said ,my insurer is Admiral, and I recon they'd value my car about £6-7k less than I paid for it as it stands. If I had a more premium insurer I may feel differently, but then again most insurers only replace up to current value, not purchase value.

Mine is pretty much irreplaceable so having that return to invoice money would really help finding something else!

[The0pportunist]

Originally Posted by djgandy

You've just bought a 640d right? If you spent over £25k I'd probably go for it. As I said you can get 4 years for cheap.

There are a lot of BMW thefts these days and on high end cars it doesn't take much to tot up a huge repair bill where an insurer may just want to write it off.

All this said ,my insurer is Admiral, and I recon they'd value my car about £6-7k less than I paid for it as it stands. If I had a more premium insurer I may feel differently, but then again most insurers only replace up to current value, not purchase value.

Mine is pretty much irreplaceable so having that return to invoice money would really help finding something else!

Yep, i pick her up on saturday Can't wait

Your absolutely right, no insurance company will pay the invoice price, the logical step is gap insurance. I'm tempted to get the 5 year plan though as im likely to keep it for that long and if not, can transfer it over to the new car.

Mate your car is gorgeous, it would be tough to replace her even if you had the full invoice money back! Maybe we can do swaps in a couple years

[Ao1]

If you buy a new car and write it off in the first year chances are you will get a new replacement car. In that scenario GAP is no use, but for all other scenario's, especially if the car will devalue a lot it is worth it. I got it for my car. Around £200 for 5 years, which was a lot lower than what BMW wanted. Dealerships make a good mark up on all the different types of insurance they try to sell you. It hacked me off when I bought my car. I went in to buy a car and all they wanted to sell me was insurance. Trying to get info on the car was like getting blood out of a stone, it was all about insurance. BMW car insurance is also over priced. It's no better, just more expensive.

The only potential concern on GAP is that I have heard some insurances companies are starting to offer a like for like car rather than a pay out. They state they are doing it to over come disagreements on the car value, but no doubt the replacement car is purchased at a lower cost than the pay out. If the insurance company offered you a like for like replacement GAP would not come into play and I don't know if you can refuse the replacement car.

Hope you enjoy the 640d. I had a burn out with one a couple of weeks ago and it was fast.

[trixdout]

Gap insurance is worth it. IF you owe more than it is worth, it pays for itself. But, if you never get an accident while owning the car than it was useless. Get it as cheap as possible and have peace of mind.

[MattOz]

I bought RTI GAP following my recent F31 purchase. I know of a couple of people who have taken it out and then, unfortunately, had to use it, and it was well worth the initial £200 outlay.

I had it before on my M3 and whilst I never used it, it was good to know that it was there. Just depends on what you consider to be an acceptable 'loss', should the worst happen.

[Billyray911]

If you decide to use ALA,use the code PISTON12 for an extra 12% discount

[Thermobaric]

I believe some of the more higher end insurers do an assured value so you're not fighting over the value in the event of an accident. Maybe an alternative to GAP. I've not done it before though.

[The0pportunist]

Originally Posted by Billyray911

If you decide to use ALA,use the code PISTON12 for an extra 12% discount

Thanks for this, discount code works!!