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Gap Insurance

Note: At the moment UK Carline are not supplying GAP and RTI GAP insurance but we do recommend doing your own research online.

RTI GAP

Should your car lease or van lease be written off as a total loss by your insurance company, typically they will only pay the current market value of the vehicle at the time of the loss, and not what you originally paid for it.

Return To Invoice (RTI) Guaranteed Asset Protection (GAP) can soften the blow, and will pay the difference of up to a maximum of either £10,000 or £20,000 (subject to eligibility) between the market value of the vehicle and the original invoice price you paid for it. If the amount required to settle the outstanding finance is greater than the original invoice price, RTI GAP will cover the higher figure, allowing you to end the finance agreement.

Eligible Vehicles

  • Vehicles up to £75,000 invoice price.
  • Cars and commercial vehicles up to 3-5cwt.
  • Cars and commercial vehicles up to 6 years old.

RTI GAP is only available on PCP (Drivewise), Hire Purchase, Business Contract Purchase, and Cash. Furthermore cover is valid for up to 3 years

Major Exclusions

  • Vehicle is written off whilst driving illegally or under the influence of drugs/alcohol.
  • The vehicle is not covered by a fully comprehensive road risk motor policy
  • Use of vehicle for hire or reward
  • If the vehicle is unattended and the keys have not been removed, all doors locked, and any immobiliser and/or alarm activated

Finance GAP

If your vehicle is written off or stolen there is a risk that the insurance settlement may not be sufficient to cover the outstanding finance owing on the vehicle. This is because vehicles tend to depreciate more quickly in the first year and then at a slower rate as they get older.

Finance GAP pays the difference between the market value or the insurance company settlement (whichever is greater), and the outstanding finance on the vehicle up to a maximum of £5,000 or £10,000 (Subject to eligibility).

Eligible Vehicles

  • Vehicles up to £75,000 invoice price.
  • Cars and commercial vehicles up to 3-5cwt.
  • Cars and commercial vehicles up to 6 years old

This is available on all finance agreements, excluding cash purchases, and cover is valid for up to 5 years in line with the finance agreement.

Major Exclusions

  • Vehicle is written off whilst driving illegally or under the influence of drugs/alcohol.
  • The vehicle is not covered by a fully comprehensive road risk motor policy.
  • Use of vehicle for hire or reward.
  • If the vehicle is unattended and the keys have not been removed, all doors locked, and any immobiliser and/or alarm activated.
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