Drowning my Grenadier (a sorry, soggy saga)

[scottyboy436]

Not sure if it's to late now , but I'd suggest taking out gap insurance if the car is on finance

 

[Eric]

Not sure if it's to late now , but I'd suggest taking out gap insurance if the car is on finance

Isn't that only available when buying a new car at registration time.

 

[scottyboy436]

Isn't that only available when buying a new car at registration time.

I managed to get a policy for my grenadier for the 4 year PCP and it was a year old , it just covers the difference in your invoice price with what insurance pays out

 

[Baron von Teuchter]

I honestly didn’t know gap insurance still existed, I thought it fell by the wayside like PPI did

 

[CRH]

Love it, the wife has a modern (2018) Fiat 124 Spider

I've also got a 2023 595c Abarth
I do like what Fiat did with the modern 124 Spider, just a shame they didn't sell more

 

[scottyboy436]

I honestly didn’t know gap insurance still existed, I thought it fell by the wayside like PPI did

It's not to bad a price , something like 400-600 for the term of your finance , something you may never need but handy when you do

 

[CRH]

Isn't that only available when buying a new car at registration time.

I think the wife got gap insurance in 2019 from Nationwide, it was cheaper than the dealer, even though we paid cash in full

 

[Baron von Teuchter]

I think the wife got gap insurance in 2019 from Nationwide, it was cheaper than the dealer, even though we paid cash in full

Why did you buy gap insurance if vehicle wasn’t on finance? I thought the purpose of it was to close the gap between an insurance payout and the finance settlement figure? Or am I misunderstanding it? Quite possible!!

 

[Eric]

Why did you buy gap insurance if vehicle wasn’t on finance? I thought the purpose of it was to close the gap between an insurance payout and the finance settlement figure? Or am I misunderstanding it? Quite possible!!

GAP insurance pays what you need to get from an insurance pay out to the cost of a new identical car. It is not as popular now because most/all insurance companies (apparently not on N1s) provide a GAP cover of two years, therefore on new cars you are paying for the first two years for nothing, and GAP usually only applies to the first 4 years.

 

[Baron von Teuchter]

Ahhhh, I was misunderstanding it then. Thanks!

I thought I was just there to settle finance if you were in negative equity

 

[Baron von Teuchter]

I think it would be very easy to have a Grenadier written off. A new front bumper corner, wing and headlight cost my insurance company £7500+vat in parts alone. With labour and painting etc I wouldn’t be surprised if that litttle repair was £15k.

I think gap insurance might be worth looking at.

 

[Jeremy996]

The parts and labour estimate for my Grenadier was a fraction under £40k, (with some argument over whether some things were necessary or not). The bare engine was £14k from Ineos, alone.
If you read the thread, you will see that the margin between a cash in lieu settlement and write-off was not huge.

 

[Cheshire cat]

Love it, the wife has a modern (2018) Fiat 124 Spider

My son had the 124 Spider.
I loved driving it too. Although similar to the MX5, a bit more unique in my opinion.
I know the MX5 has a massive, well deserved following, so not dissing it in any way.

 

[CRH]

Why did you buy gap insurance if vehicle wasn’t on finance? I thought the purpose of it was to close the gap between an insurance payout and the finance settlement figure? Or am I misunderstanding it? Quite possible!!

She just wanted to make sure she got a full payment in the case of a write off.

 

[Cheshire cat]

I didn't bother with GAP insurance at the time. I also paid the balance with no finance. Perhaps with hindsight, I would have considered it. If I remember correctly, it provides cover for two or three years only?

 

[Baron von Teuchter]

Yeah I’ve just been looking into it, tried one of the comparison sites and none of their insurers would quote!

 

[Cheshire cat]

I think that's a yes. It was offered to me.

 

[Baron von Teuchter]

She just wanted to make sure she got a full payment in the case of a write off.

Yeah sorry I’ve misunderstood the whole thing, I thought it was just a finance protection thing, not a policy to cover a new equivalent vehicle

 

[Jeremy996]

So went to Norfolk to collect my new to me Grenadier. A bit like my original collection back in April 2023, there was some drama as
(i) The MX-5 shed it's alternator belt 8 miles into the journey, (back on the journey within the hour as a fellow 4x4 Response member came out to me with some spanners).
(ii) The MX-5 refused to start on the way back in King's Lynn Tescos car park; I suspect the battery is on its last legs. The jump pack earned its keep.

Introducing MM23ZPD, built 14/04/2023, VIN ...2589, A Fieldmaster with front and rear diff locks, but no towbar in Shale Blue, the metallic one.

Going to need a dashcam, tow bar and a loadspace divider, so experience welcome. Does the Wolfbox work well as a dashcam? What should a tow bar and all the ancillaries cost in the UK? Any suggestions for a loadspace divider - I hung stuff off mine?
My private plate will be slapped on once I have the V5.
I'm told this was originally owned/used by Mark Tennant, the original commercial director for Ineos Automotive, which might explain the slightly odd specification.

 

[Baron von Teuchter]

Looks great, congratulations!