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Discussion Starter #1
I have GAP insurance with my Zoe and I recently found out when I had my car written off that the GAP insurance I was sold by RCI finance did not run for the full term of the PCP agreement. In summary I have the car for 37 months and the GAP insurance only runs for 36 months. Guess what the write off was in the last month! I'm fighting it at the moment. Has anyone else had similar problems?

Check you PCP and GAP policies, this may be a common issue.
 

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GAP is usually a max of 36 months. If you can gather evidence of exactly how much Zoes have sold for then again you can challenge them wanting some daft amount of money for a car that is often worth £5k max. There maybe also an avenue of mis-selling as I'd think most people would assume that a GAP policy that was taken out with finance would cover the entire time of the finance.
 

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Considering that RCI are allowing people to buy their end-of-PCP cars for CAP price, and your insurer will presumably pay out CAP price, this shouldn't be an issue.

It's simply a case of getting past any notion on RCI's part that they might somehow extract the full finance GFV from you because of this.
 

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Out of interest how much is GAP insurance? Would you say its a must have?

Looknig at PCP'ing a new EV soon...
 

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Most insurance policies are new for old in year 1 so no need for gap then.

So the question is in years 2 (and 3) is the car worth more or less than the outstanding finance, if it is less then you need gap.

For the OP, it does sound like mis-selling unless they made it clear that the GAP insurance did not cover the the full period of the PCP.

I know RCI let you buy out the leaf at CAP, not sure if they also allow it for Zoes, this would obviously be the simplest solution.
 
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