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GAP Insurance / Return to Invoice cover

  • 16-09-2020 10:23am
    #1
    peteb2
    Registered Users, Registered Users 2 Posts: 1,813 ✭✭✭


    I'm not sure whether this is better placed in the insurance section.....

    Buying a 2018 Renault Scenic for about 18k. I left the missus go and do all te dealing because she'll be the main user. One of the add-onst they were pushing to go with was GAP Insurance. I've never bought anything close to new so its never come up.

    they are arranging the finance in the garage so its HP. And i gather its more so in their interest than mine to have it. Notwithstanding the fact they get 33% commission or so on it.

    Anyone got any views? If its a bank loan i have over 5 years and the car gets written off, insurance gives you market value for the vehicle so you still end up back in the same car and repaying the same amount. So why the concern over not getting the difference? Car is a deperciating asset so why would i as a user of a car be concerned with returning to invoice price in the event of a claim?


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