Personal Lease, do I need GAP insurance?

blackrod

Active Member
Hi All,

The missus gets her Audi A5 on Friday and she is wondering if she needs GAP insurance in case it is stolen or a write-off?
I know the 1st 12 months will mean her normal insurance will replace with a brand new car but what about 24 months down the line, could she have an issue with what the insurance pay and what the lease company want?
 

rousetafarian

Moderator
Hi All,

The missus gets her Audi A5 on Friday and she is wondering if she needs GAP insurance in case it is stolen or a write-off?
I know the 1st 12 months will mean her normal insurance will replace with a brand new car but what about 24 months down the line, could she have an issue with what the insurance pay and what the lease company want?
I’ve always had it on previous leased cars, but bought through ALA, most recently on my 2018 Golf R. My current vehicle hasn’t got GAP insurance (which I need to resolve) as I collected it from BMW today after £8500.00 of repairs (don’t ask).

The insurance company wanted to write it off initially, probably to fix it through the own ’approved chain of repair centres’ and then sell it on for a massive profit.

The GAP insurance on my car is pretty much a necessity. I reckon they’d have offered me £25k v a £45k balance
 

Delvey

Distinguished Member
I would say yes.
It isn't normally expensive, but in the case of a write off can be beneficial.
Take my idiotic brother for example. Had a Mercedes A class, crashed into a wall at 55 mph (in a 30, just avoided a ban but that's another story).
Insurance paid his finance company off.
GAP insurance paid him the difference to a new model (circa £13k if I recall).
He went out and bought pretty much the same model that he wrote off, a year older, and didn't have any finance to pay, and didn't have to hand a car back.
 

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