GAP insurance on used cars

f17ant

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Aug 29, 2020
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London
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W205 C63 Saloon
Hey everyone

I have always got GAP insurance on any lease car I have had from Mercedes and after my GLC got stolen and GAP took me to invoice price I think I will never own a car without it.

As a few of you know I purchased my C63 privately and I thought it would be a headache to get GAP for but I'm surprised was really simple. They valued the car well (they go by todays value and keep that figure as there is no "invoice" to go back to)

anyone else got gap on a car that's not brand new ?



Antony
 

MrGreedy

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Midlands
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w212 E350 CDI 125th Anniversary Edition
Haven't taken it, but MrsGreedy just got new-to-her Golf. £12k. 2016 model.
As part of the hard sell, they tried to entice us to take gap insurance for 3 years at £300, which we didn't think was too bad.
A quick 60 second quote whilst we were sat there revealed the same can be had for £150, so needless to say we didn't go with what the dealer was offering.
But it seemed pretty straight forward and decent value.
 
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f17ant

f17ant

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Aug 29, 2020
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Location
London
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W205 C63 Saloon
Haven't taken it, but MrsGreedy just got new-to-her Golf. £12k. 2016 model.
As part of the hard sell, they tried to entice us to take gap insurance for 3 years at £300, which we didn't think was too bad.
A quick 60 second quote whilst we were sat there revealed the same can be had for £150, so needless to say we didn't go with what the dealer was offering.
But it seemed pretty straight forward and decent value.
lucky you had a quick check nice little saving there! It makes sense on cars that are not brand new if the worst was to happen you still want your money
 

Bobby Dazzler

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ML AMG-line Black Series
I always thought GAP insurance was a great big swizz designed to generate main dealer margin and sales person’s commission.

I always thought that in the even if a total loss the insurance company would pay out market value, which would put be back where I was.

After a claim I found out the hard way and now I buy GAP insurance for pretty much every car we buy now - whether new or secondhand.

I now know that it’s a genuinely useful thing, despite being a great big margin/commission generator. I buy separately from the car.
 

Rubyred

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Oct 3, 2020
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Oxfordshire
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2017 C Class AMG Line
I bought Gap Insurance from the MB dealer I bought my car from, it was just under £300 for three years.
First time I’ve bothered with Gap but I feel happier having it, just in case!
 

Smart320

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Barrybados
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When I bought my 7 year old SLK 55 from a MB dealer I took out 3 year gap insurance for just over £200 , half the cost of their quote. When I sold it after 18 months got a £85 refund . Would buy gap again if I bought another expensive motor ( unlikely at the moment as the recently bought house is turning into a money pit and old age ( or worse ) may catch up with me before it is finished
 

kam09

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Jul 1, 2013
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E350cdi coupe sport obs black
100% worth it and recommend ala.. got paid out 18k invoice on my w207 61 plate when it was written off couple years ago it was worth around 11k at the time of the accident 🙃
 

flowrider

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There are different types of GAP insurance, some pay difference between insurance payout and invoice value and some pay finance value. Invoice value costs more than finance value.
 

Beardz

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Jun 2, 2009
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Northants
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Merc E220 (W212) CDi SE Exec Estate & Merc CLK320 Cabrio A209
I've always bought it although I've never needed it thankfully. The 5 year back to invoice GAP I purchased for my E-Class ran out in July. I shudder to think what I'd get from insurers now on "market value" compared to the car being a total loss back in July (£15k back to invoice limit)!
 

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