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Nipz

GAP insurance?

53 posts in this topic

Nipz, you will be able to use the car as a deposit providing theres extra money in the car once the finance is paid off. 99% of dealers will give you little as possible and end up with you having nothing to show for it.

As for your repayments, almost £200 a month seems very high for a 2 year finance agreement. What deposit did you put down?

I put £1000 upfront.

I looked around first but couldnt get the spec for much less. Please dont say i could of got it a lot cheaper :( lol

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I put £1000 upfront.

I looked around first but couldnt get the spec for much less. Please dont say i could of got it a lot cheaper :( lol

I won't ruin your day completely then.

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I won't ruin your day completely then.

Nah go for it :) what price should i have got it for for the spec i have (look in my sig)

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I put £1000 upfront.

I looked around first but couldnt get the spec for much less. Please dont say i could of got it a lot cheaper :( lol

You did fine. :) Don't listen to anyone else or you'll go mad with frustration at hearing others' deals.

My car's is still showing at being built in Cologne on the 11th February <_< with delivery to the dealer on the 7th March. Mmmm, if it's still like that this weekend I'll be getting frustrated. Surely, as a car moves from the assembly plant to a storage area, then onto a train (boat?) to Dagenham, then a train to Halewood, then delivery lorry to the dealer it is scanned at all times so you should always know where the car is? Not Ford seemingly though. :rolleyes:

As a separate note I'm still getting anxious about driving the wifes current car off (for petrol or to the tip) and coming back with the new Fiesta. Her current motor, a Micra, was the first new car she's bought and she chose the colour, interior trim, etc and has fully paid it off. She might not like the Fiesta or the colour although she normally loves anything that is purple. Fingers crossed.

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You did fine. :) Don't listen to anyone else or you'll go mad with frustration at hearing others' deals.

My car's is still showing at being built in Cologne on the 11th February <_< with delivery to the dealer on the 7th March. Mmmm, if it's still like that this weekend I'll be getting frustrated. Surely, as a car moves from the assembly plant to a storage area, then onto a train (boat?) to Dagenham, then a train to Halewood, then delivery lorry to the dealer it is scanned at all times so you should always know where the car is?

I was told the system gets updated at the key steps.

Shame mine hasnt updated for the last week and a half!

The annoying thing is is that my car was made on the 5th Feb :( just floating around in space now :(

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But that doesnt have the spec i wanted?!

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You just add the extra onto it....The same dealer sold me my car, 1.4 zetec in black with bluetooth and USB for 10k. But this was before ford put their prices up

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Nah go for it :) what price should i have got it for for the spec i have (look in my sig)

Well, Deal Drivers will do the same spec car now, for £9765 with 12 months road tax and delivered to your door. Bear in mind, that price includes the price increases that came in on the 2nd Feb, so if you ordered before then, which I presume you did, you can probably knock around £600 of that price so it would be nearer £9200.

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Yea i got it before the price went up. Im probably going to do the service plan thing Ford offer. You pay £300 and parts and labour and the service are included for the 2 years. First off is this a good deal. and second do other companies do this?

Getting worried ive messed this up!

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I was told the system gets updated at the key steps.

Shame mine hasnt updated for the last week and a half!

The annoying thing is is that my car was made on the 5th Feb :( just floating around in space now :(

It it has already landed in Halewood you'll never see it again ;) The scallys will have already repainted it red by now and it'll be running around on 19's with a 15" Alpine Type R sub in the boot. (Prepare for flaming) :P I'm a scouser though (Woolton) so maybe they'll go easy on me :(

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It it has already landed in Halewood you'll never see it again ;) The scallys will have already repainted it red by now and it'll be running around on 19's with a 15" Alpine Type R sub in the boot. (Prepare for flaming) :P I'm a scouser though (Woolton) so maybe they'll go easy on me :(

lol with my luck this could happen :)

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Yea i got it before the price went up. Im probably going to do the service plan thing Ford offer. You pay £300 and parts and labour and the service are included for the 2 years. First off is this a good deal. and second do other companies do this?

Getting worried ive messed this up!

As for the servicing, the only way to find out if it's a good deal is to ask how much the services cost seperate, and then just see if the difference is worth forking out in one go.

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As for the servicing, the only way to find out if it's a good deal is to ask how much the services cost seperate, and then just see if the difference is worth forking out in one go.

[/quote

Good point. I wish I'd asked about a service plan when I bought the car.

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As for the servicing, the only way to find out if it's a good deal is to ask how much the services cost seperate, and then just see if the difference is worth forking out in one go.

Good point. I wish I'd asked about a service plan when I bought the car.

Have you just put down the deposit or what? Sorry if you said but how did you purchase the car? Ford Options or buying outright?

Because i have only put down my £200 deposit and then when the car arrives i give them the other £800 and then if i want i can add the service plan and GAP insurance on.

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Good point. I wish I'd asked about a service plan when I bought the car.

Have you just put down the deposit or what? Sorry if you said but how did you purchase the car? Ford Options or buying outright?

Because i have only put down my £200 deposit and then when the car arrives i give them the other £800 and then if i want i can add the service plan and GAP insurance on.

Hi Nipz.

I put down a £1200 deposit with the dealer and will pay the outstanding balance when the car is delivered. I'm not using any of Fords Finance plans.

If I was wanting a new car every couple of years like yourself, I would have looked at the Options, but as the wife only does 4,000 miles a year maximum, it would be a waste of time getting a new one as this one will be a long way from being tired.

As for the GAP and the Service Plan, I haven't decided yet. As I will pay less for than car than what they are currently going for 2nd hand or according to the book price, I don't think I will lose out if the car was written off or stolen anyway, which is what the GAP covers you for.

The Service Plan, well, I'll have to speak to my local dealer on the prices they are looking at charging to see whether it's worth taking their 3 year option out, I think it was about £430 for a 3 year deal but as I'll be keeping the car at leat 5 years, it may be worth it, especially if you take into account any price increases

One think to bear in mind on yours, if you are keeping the car for 2 years, you may only need one service, ie in 12 months. The next time it will need a service is 12 months after, ie when you are giving the car back, so just give them the car back and they can service it. That should work unless you go over the amount of miles that triggers the service schedule in between..

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One think to bear in mind on yours, if you are keeping the car for 2 years, you may only need one service, ie in 12 months. The next time it will need a service is 12 months after, ie when you are giving the car back, so just give them the car back and they can service it. That should work unless you go over the amount of miles that triggers the service schedule in between..

Very good point! Will need to speak to Ford about it when i heard more about my car.

Just heard that the car still isnt in the country (so its past the deadline for arriving at me) and its also 3 days past the new deadline for getting in the country!!! This is going to be painful. I have spoken to the Deal Drivers and they are getting me a new quote on the car i want and gonna see if they can get it to me faster.

Is there anyways i may be able to get out of the contract and get my £200 back if DD do get me a great deal and can get it faster (or near as it)?

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Hello all.

I spotted traffic coming from this forum to our website, so came and had a look. Given the comments about GAP Insurance I felt I had to jump in, especially in relation to the comments by "adzmcp".

I hope this is ok with you all.

As regarding GAP yes you can buy on the internet for cheap but it DOES NOT cover the same as what the dealer cover look into it read it all.

Actually I agree with this statement... but it depends on the type of GAP Insurance policy... but let's be clear that adzmcp's statement "DOES NOT cover the same as..." infers that the dealer policy is superior... and this is often - in fact, almost always - not the case.

For example,

  • Ford's own Invoice GAP Insurance policy (See here) is only available for a total duration of 24 months. Although to their credit, they allow you to defer the policy by up to 12 months if you have new-for-old cover under your motor insurance policy - which is actually not usual at all for a motor dealer to allow this. Our policies however, can be for up to 48 months in duration AND can also be deferred.
  • The Ford Invoice GAP Insurance policy has a maximum claim limit of £20,000. Our policies on the other hand can have claim limits of up to £25,000. Along the same lines, there's no point paying for a policy with a £20,000 claim limit if your vehicle is only costing you, say, £10,000, therefore we allow you to flex the claim limit (and with it the price of the policy) from as low as £5,000 through a series of options up to the maximum £25,000. A lower claim limit lowers the cost of the policy and a higher claim limit increases the cost of the policy.
  • The "best" level of GAP Insurance that Ford (and usually most motor dealers) can offer is Invoice GAP Insurance. We can go one step further and provide Replacement GAP Insurance. The difference between the two is that whilst Invoice GAP Insurance pays the difference between insurance payout and original purchase price, our Replacement GAP Insurance policies cover the difference between motor insurance payout and the equivalent cost of replacing the vehicle new-for-old at the time of claim, even if that replacement price is more than you originally bought the vehicle for (subject to the claim limit of course).
    Whilst I'm on this subject, watch out for some motor dealers referring to their GAP Insurance policy as "Vehicle Replacment Insurance". In almost all cases this is actually just Invoice GAP Insurance and NOT the same level of cover provided by Replacement GAP Insurance, as the name might suggest.
    We also offer something called Retail Value GAP Insurance. In a nutshell, if you buy a used vehicle (therefore not eligible for Replacement GAP Insurance) and either by way of a dealer offer/promotion or strong negotiation you buy the vehicle for less than what Glass' Guide state the vehicle is worth, Retail Value GAP Insurance would be based on what Glass' Guide said the vehicle was worth (at the time of buying the policy) rather than the lower amount you actually bought the vehicle for... a kind of mid-way point between Invoice and Replacement GAP Insurance. Retail Value GAP Insurance is also available for a vehicle that you already own regardless as to when and how you bought it, providing the vehicle is less than 6 years old.
  • Most GAP Insurance policies offered by Motor Dealers must be purchased at the same time as buying the vehicle, although in this case the Ford policy can be purchased within 30 days of buying the vehicle. Our Invoice GAP Insurance can be purchased up to 105 days after you bought the vehicle. Our Replacement GAP Insurance must be purchased within 105 days of the vehicle being first registered. Our Retail Value GAP Insurance can be purchased at any time up and until the vehicle is 6 years old (consider though that the longer you take to buy it the less the vehicle will be worth).

After reviewing the terms and conditions of the Ford policy, there are only two reasons by which it *could* be argued that their Invoice GAP Insurance policy is "better" than ours:

  • Their policy will pay up to £250 towards the excess (if any) on your motor insurance policy. Ours won't.
  • It is possible to buy the Ford Invoice GAP Insurance policy as a combined Finance & Invoice GAP Insurance policy - E.g. it will pay the difference between the motor insurance payout and the higher of either the original purchase price or the finance agreement settlement figure. Our Invoice GAP Insurance policy is not currently, but will soon be, combined in this way.
    However, it's worth noting that whilst a combined policy is possibly a benefit in the short term (although rarely), in the long term it would usually provide no additional benefit over a non-combined policy.

We had customers who bought GAP on internet and tried to claim and it all goes wrong then.

We speak to customers who have been fed this line by their supplying dealer, on an almost daily basis. It's a commonly used scare-tactic with absolutely no grounding whatsoever and never in all the time I've been involved in the motor and insurance industries, been backed up by the slightest bit of evidence that would suggest that making a claim on a GAP Insurance policy purchased from a company other than the dealer, is any more difficult than making a claim on a GAP Insurance policy purchased from the dealer.

Think about it, COST price is around £80 for cash GAP and £120 for Finance GAP so if the internet is selling it cheaper you gotta ask your self how and why????? You can not blame a company trying to sell GAP for a profite...

In the first place, if your "cost" price for Finance GAP Insurance is more expensive than the cost price for Invoice GAP Insurance (I presume this is what you mean by "cash GAP") then you've got a serious flaw in your underwriting and pricing structure. Finance GAP Insurance is by it's nature a descending level of cover and therefore poses less of a risk to the insurer than, say, Invoice GAP Insurance which is an ascending level of cover. Therefore Invoice GAP Insurance should always cost more than Finance GAP Insurance.

Secondly it's unlikely that any of the online providers have cost rates lower than a franchised motor dealer for comparable policy types and terms. In fact it's more likely that the online providers have cost prices that are greater than those of a franchised dealer. Therefore the question should actually be reversed. E.g. if we (and other online GAP Insurance providers) can afford to sell GAP Insurance at prices (and profit margins) less than yours, how and why don't motor dealers sell the policies for the same, or less than, the online providers .

Now, there are obvious answers here... the online providers of GAP Insurance are almost always NOT motor dealers, subsequently have substantially less in the way of overheads and therefore don't "need" (subjective) to make as much money on each policy as perhaps a motor dealership would justifiably need to.

However, balance this with the fact that statistically most people either don't know what GAP Insurance is and/or believe the only place you can buy it from, is a motor dealer and all of a sudden the motor dealer has an almost captive market to which they can name their price.

Incidentally, we only advertise online... and that's only to those people who are actively searching for GAP Insurance after identifying (usually from a motor dealer who's policy was in their opinion "expensive") that they would like to take out a GAP Insurance policy but not at the dealer's price... so please... adzmcp, keep up the good work for us! :-)

Therein lies my tuppence worth :-)

David

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Wow!!!

What an amazing read. Thanks for that. Makes me think about all the options now!

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Very good point! Will need to speak to Ford about it when i heard more about my car.

Just heard that the car still isnt in the country (so its past the deadline for arriving at me) and its also 3 days past the new deadline for getting in the country!!! This is going to be painful. I have spoken to the Deal Drivers and they are getting me a new quote on the car i want and gonna see if they can get it to me faster.

Is there anyways i may be able to get out of the contract and get my £200 back if DD do get me a great deal and can get it faster (or near as it)?

Hi Nipz, I've sent you a message.

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Well, I'll start the ball rolling for replies to this posting......

Firstly, I think you are very fortunate to be able to turn away business and not have your sales figures affected.

That is a luxury that not many companies are in a position to do.

You freely admit that your website is expensive and you justify it by saying that you are prepared to offer discounts---hang on a minute though, that's not quite what you said before was it?

Let me remind you--"I am telling customers NO to deals, I am sending them away to deal with others because I have my job to think about."

Surely this is double standards........also remember that whilst you are posting on this site you are the representative for your company and, as such, you are portraying the image and reputation of your company.

Your offhand comments concerning customers' opinions and how you personally feel about us are not exactly giving us the right impressions about your company.

I won't presume to tell your your job--how you wish to succeed is up to you but there's no need to adopt the "holier than thou" attitude with us either.

Incidentally, you are quite right of course about Ford's sales performance but this was mainly due to the success of the new Fiesta which received major publicity and was recently voted car of the year etc.

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As regarding some of the replys I soory but they down right rude. This one below got me going

I'm sorry, but you've made a rod for your own back. Doesn't excuse people being rude, but if you didn't come out with so much bull, you wouldn't have had the response you got.

Let's have a look at some comments you made.

Ford Options is like any finance the car is registered to you but the finance compnay really own the car till paid off.

No it's not. You can get a personal loan that isn't tied to the vehicle, you own that car from day one.

So if you on Options and you had it back you have to pay for any damage to the car when you hand it back or return it to standard if you modded it. If you PX the car you wont need to worry about all that.

How exactly is someone going to p/ex the car when they don't own it? At the end of the Ford Options the customer needs to pay the remaining balance that is equal to GMFV if they are to own the car. Have you been telling customers that the car is likely to be worth more than that? If so, I bet you never put it down in writing, and if so, why don't you use that figure as the GMFV?

Sorry but Dealers really dont need customers more than you need dealers.

This is your biggest boo boo. What an incredibly ridiculous comment from a person who works at a dealership. I do hope your boss doesn't see it as i doubt he will be enamoured with that comment. How far away from this planet are you. Without customers your dealership will go, like many others, who I presume had the same attitude. If your dealership went by the wayside, the customer would have plenty of other places to spend THEIR money where THEY want to.

Other than warranty work, tell me exactly what I or anyone else would need to come to you for or any other dealer?

Finance can be had cheaper elsewhere.

As already proved, GAP insurance can be had cheaper elsewhere.

I can have my car serviced anywhere as long as they follow Fords procedures and use OEM parts and the warranty is still valid. I do hope you haven't been telling people otherwise, because that would be lying, wouldn't it.

Do I need a dealer for their expensive parts? Nope, they can be sourced from cheaper alternatives.

Do I need a dealer for their expensive service costs? Nope, I can get it serviced cheaper with better customer service.

As regarding GAP yes you can buy on the internet for cheap but it DOES NOT cover the same as what the dealer cover look into it read it all. We had customers who bought GAP on internet and tried to claim and it all goes wrong then. Think about it, COST price is around £80 for cash GAP and £120 for Finance GAP so if the internet is selling it cheaper you gotta ask your self how and why?????

You have already had your !Removed! handed to you on a plate by someone who obviously knows more about GAP insurance than yourself, so I'll leave that one be.

If customers want to rape dealers all time be prepaired for bad after service etc etc the money has to come out of somewhere else.

YOU WHAT!!!!!!!

I have never ever bought a car from anyone who didn't agree on a deal. If they don't agree, there is no deal. Using the word rape is dispicable and gives the impression that the customer is taking something that they have no right to. Every deal is a too way thing where both parties agree, or it wouldn't happen.

"Be prepared for bad after service?", a lot of customers get that anyway, how are we supposed to tell the difference. You are a disgrace to your "profession" and don't deserve to earn a penny.

Since when has good after service cost money?

How much does a "Thank You" cost?

How much does a return call cost when they are promised?

Unbelievable, truly unbelievable.

Dont think that Ford want to made redundancys because figure out show Ford sales are up on all manufactures the fiesta and focus have been the no1 and no2 best seller for past 3 months. Ever since the credit crush sales of fords have risen with people coming out of there Audi Merc BMW etc etc. But the people who do come out get deals that lost money and it now starting to affect us.

The reason why Ford are doing OK is because the products they make are good, not neccessarily because you are doing a good job. Good cars sell themselves. They/you are selling the cars despite your terrible attitude to customers, no other reason. I don't remember buying any car on the strength of the person selling it. From what I have read from yourself, you are only there to fill the forms in and give customers false information.

So, there you go. Have you ever heard the statement, "You reap what you sow". I think you'll be better off if you remember that.

Oh, and my last point, you never did answer my question as to whether you pay to advertise your stock on this site. That would be ironic wouldn't it, you trying to get something for nothing, just like those pesky customers you shoehorn out of your showroom all day long.

Maybe, if you didn't keep turning customers away, you wouldn't have to come on here to try and sell your stock. Just a thought like.

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Oh, and my last point, you never did answer my question as to whether you pay to advertise your stock on this site. That would be ironic wouldn't it, you trying to get something for nothing, just like those pesky customers you shoehorn out of your showroom all day long.

Maybe, if you didn't keep turning customers away, you wouldn't have to come on here to try and sell your stock. Just a thought like.

He wont answer it because he knows your right! If hes turning people away he must have enough customers to sell to, but wait... advertising online, somethings going on here!!!

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Oh i do love this topic :lol::lol:

As for your reply adzmcp, if you didn't tell lies to cutsomers then we wouldn't start picking on the things you say. You got yourself in your own mess by telling lies, all we are doing is simply pointing out where your going wrong, which seems to be almost everywhere...are you even FSA approved to sell finance? Sure don't seem like it. I'm sure the FSA would love to hear your ways of selling finance.....

Please only reply if you have something constructive to say but no more abusive language

This made me laugh....what makes you have the right make this comment? Are you a admin of the site? No. If your not happy about comments made on a public forum then simply leave. Nobody is focing you to stay here.

It's knowen fact that car salesmen are scum of the earth, and your a fine example.

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