GAP Insurance

[johneroberts]

I took this out when i purchased the car new 2 yrs ago, it apparently lasts for 3 years, what happens after that can yo extend it?
PS how did the Reverend Bob thingy go?
Cheers
jr

[Jon]

rev bob turned out quite well, there is more to come on that front.

unfortunately once a gap policy has run out you can't extend them, but given the residual valur left in an rs4 I wouldn't bother with them in the first place as they only clear either the negative equity after the insurace pay out, or take you back to the original amount paid for the vehicle.

[JohnH]

I think the Gap insurance is good idea on expensive cars or ones likely to suffer big depreciation. Friend had his one year old M3 stolen never recovered and the Gap insurance paid out an extra £6K above what the insurance paid out.

[Jon]

yeah when depriciation is a problem it is a good idea, but with RS4's the depreciation over 3 years doesn't warrant the £700 or so premium for gap in my opinion, then againI've got it on mine as the finance company knocked the rate down if we took it out!

[ChrisG]

took it on my S3, premium was £450 ish but the depreciation is likely to be a lot over the time versus £450 , that they also added into the invoice price !!