Paint & Fabric Protection and Gap Insurance

Sparky1972

Hi,

Just finalised a PCP deal on new Hyundai Tuscon. The dealer is now trying to sell me Paint & Fabric protection with Supaguard and also Gap Insurance for the PCP.
Quote is as follows:

GAP Insurance: €399 (One off payment for 3yr cover)
Paint & Fabric: €349 5yr cover or €299 for 3yr cover

He is offering both together at €599
What are your thoughts on each option. Are they worth it?

JoeA3

GAP insurance - maybe... It depends how risk adverse you are? It's a fair wedge of cash to cough up for yet more insurance to cover a fairly unlikely scenario (total loss of the car). Insurance is expensive enough as it is imo.

Paint / fabric thing - no way, definitely not. This will be slapped on by the dealers "valet" guy, absolutely not worth the cost. Gimmick. You'd be far better off giving that money to a pro detailer who will do a far more professional long lasting job. Or save the €300 and just keep on top of keeping it clean yourself.

Sparky1972

Thanks JoeA3,

Thats exactly the way I was thinking myself.

colm_mcm

The gap insurance covers the difference between the possible actual value (negative equity) of the car in 3 years and the GMFV set down by the dealer, which is usually 30%?
So basically if a 3 year old Tucson is worth less than 9k or whatever they'll stump up the difference?

Is that right?

Both sound like horrendous wastes of money.

JoeA3

colm_mcm wrote: »

The gap insurance covers the difference between the possible actual value (negative equity) of the car in 3 years and the GMFV set down by the dealer, which is usually 30%?
So basically if a 3 year old Tucson is worth less than 9k or whatever they'll stump up the difference?

Is that right?

Both sound like horrendous wastes of money.

No it's nothing to do with the PCP. What it claims to do is return you back into a new car if your current car suffers total loss (written off / stolen) within that 3 year period. So if the OP's car is written off in 2 years time, his insurance company will obviously only pay out for the market value of a 2 year old Tuscon. The GAP cover will stump up the difference and get you back into a new car.

Still a high price to pay for an unlikely eventuality imo. I'd put it in a similar bracket to phone insurance or extended warranties that Currys try to flog you...

colm_mcm

Ah, that makes more sense.

Say if you actually wrote off your 2.5 year old Tucson though, wouldn't the car be the banks property anyway? I'd be very interested to see what would actually happen when the 3 years was up. Would you have the option to buy the 6 month old car at the GMFV set down in the original finance agreement?

Drummerboy08

colm_mcm wrote: »

Ah, that makes more sense.

Say if you actually wrote off your 2.5 year old Tucson though, wouldn't the car be the banks property anyway? I'd be very interested to see what would actually happen when the 3 years was up. Would you have the option to buy the 6 month old car at the GMFV set down in the original finance agreement?

You'll have to settle the original finance agreement anyway so won't work that way.

Basically It will cover the difference between the insurance company pay out and the original invoice amount from the dealer to finance company.

Be surprised how many times I've seen it in action. Had a Golf R stolen a few weeks after I sold it, thankfully he had cover.

sillysocks

I asked the question on gap insurance when I bought a Tuscon earlier in the year.

http://m.boards.ie/vbulletin/showthread.php?p=98947935#post98947935

I did take it out in the end, 10.50 a month with the finance company so ever so slightly cheaper plus it wasn't a big hit of a lump sum upfront. Might be worth asking the finance company about their own one if you do want to go for it.

What I understood from it is say in a years time you could end up with a situation where the finance you owe is higher than the value the insurance company will pay if the car is written off, so this would then bridge the gap between the insurance payout and the price of a new car again.

CianRyan

JoeA3 wrote: »

GAP insurance - maybe... It depends how risk adverse you are? It's a fair wedge of cash to cough up for yet more insurance to cover a fairly unlikely scenario (total loss of the car). Insurance is expensive enough as it is imo.

Paint / fabric thing - no way, definitely not. This will be slapped on by the dealers "valet" guy, absolutely not worth the cost. Gimmick. You'd be far better off giving that money to a pro detailer who will do a far more professional long lasting job. Or save the 300 and just keep on top of keeping it clean yourself.

Whether or not to pay for the extras is completely a personal decision in my eyes but I feel I have to pull you up on your "valet" comment.

Do you really think a main dealer is going to higher some hack to "slap on" the product, as you've put it?
I'm sorry but that is a complete load of ****e and I really feel I am qualified to make that statement.
Why? Oh maybe because I work in the trade (not Hyundai) and see the excellent work and the wealth of knowledge our Valet has.
Don't throw that **** around, it just makes you look like an idiot.

For the record, I find that Supergaurd is a great base for protecting your car. I can see the different when I'm washing cars with and without it. The fabric protector isn't as magical as they make it out to be but it helps as long as you don't have kids constantly dumping all sorts on it.

JoeA3

CianRyan wrote: »

Whether or not to pay for the extras is completely a personal decision in my eyes but I feel I have to pull you up on your "valet" comment.

Do you really think a main dealer is going to higher some hack to "slap on" the product, as you've put it?
I'm sorry but that is a complete load of ****e and I really feel I am qualified to make that statement.
Why? Oh maybe because I work in the trade (not Hyundai) and see the excellent work and the wealth of knowledge our Valet has.
Don't throw that **** around, it just makes you look like an idiot.

For the record, I find that Supergaurd is a great base for protecting your car. I can see the different when I'm washing cars with and without it. The fabric protector isn't as magical as they make it out to be but it helps as long as you don't have kids constantly dumping all sorts on it.

FFS my original comments were based on years of personal experience buying cars from various main dealers. I've a great relationship with the dealer I've bought my last few cars from but there isn't a hope I'd let them wash my car never mind "polish" it. Clearly our standards differ. Less of the "idiot" remarks thanks very much.

The "Lifeshine" that VW offer, for example, is just Autoglym products that cost a fraction of what VW will charge you for to apply to your new car. My original point stands - buy the stuff and do it yourself, probably doing a lot less damage... Or bring the car to a pro detailer.

Dr.Rieux

CianRyan wrote: »

Whether or not to pay for the extras is completely a personal decision in my eyes but I feel I have to pull you up on your "valet" comment.

Do you really think a main dealer is going to higher some hack to "slap on" the product, as you've put it?
I'm sorry but that is a complete load of ****e and I really feel I am qualified to make that statement.
Why? Oh maybe because I work in the trade (not Hyundai) and see the excellent work and the wealth of knowledge our Valet has.
Don't throw that **** around, it just makes you look like an idiot.

For the record, I find that Supergaurd is a great base for protecting your car. I can see the different when I'm washing cars with and without it. The fabric protector isn't as magical as they make it out to be but it helps as long as you don't have kids constantly dumping all sorts on it.

When I was 16 I was working for the summer in a dealer as a valeter for the summer, so there are a lot of cases where you have people who aren't professionals doing this work.

If you're spending money on it I'd say you're better off going to a detailed where you should be guaranteed a certain standard.

Nonoperational

Yep. A good wash polish and wax yourself is as good. Get a decent wax or sealant and do it every 2 months. It will cost you around €30 for a decent polish and wax and some gear and take an hour or so. Set aside a day every 2 months or so and re polish and wax. Add in clay and detarring as required. For €50 you can get a nice array of gear and you'll have the car looking mint.