Author: Admin

Why motor dealers face losing out in the FCA insurance ‘add on’ shakeup

The FCA appear to be ready to flex their muscles regarding general insurance ‘add on’ sales in the UK, following the release of their report in March 2014. Parts of the report were quite scathing, in particular the methods and value provided by motor dealers with products such as Gap Insurance. FCA to change the Gap Insurance market The FCA have proposed to end the ‘point of sale’ advantage provided to the dealers, meaning that they must allow consumers the chance to access and compare other Gap products in the market, before they commit to buying the product from...

Read More

The advantages of PCP Finance agreements

PCP finance, or Personal Contract Purchase is a firm favorite of motor manufacturers and dealers in today’s competitive car market. Often these deals, characterised by low monthly payments with an optional final ‘balloon’ payment, are heavily subsidised by motor manufacturers, with attractive interest rates and finance deposits. Advantages of PCP Finance The clear advantage of these types of deals for the manufacturer is that they know when you have a decision to make on your new car, and you may find that the phone calls begin with a few months left on the agreement, to see of you can...

Read More

When can you claim on Gap Insurance?

Gap Insurance is a simple, financial protection, that can be used to cover the cost of depreciation of your motor vehicle. However it is important to understand that you can only claim on your Gap Insurance in very specific circumstances. The only time you may claim on Gap Insurance cover is immediately after your motor insurer deems a vehicle a ‘total loss’ and beyond economic repair. Gap Insurance for a ‘total loss’ There is a common misconception that the term ‘total loss’ or ‘write off’ is restricted to vehicles involved in an accident, but this is not the case....

Read More

Why more UK consumers will buy Gap Insurance away from the motor dealer

The recent FCA report on the General Insurance ‘add on’ market in the UK did provide some fantastic insight into the motor Gap Insurance market. It was stated that the Gap Insurance market is worth around £150 million per annum in the UK. If we assume that the average premium for the product is £300 then that would mean around 500,000 Gap policies may be sold each year. For a product that is often poorly understood then that is quite some figure! FCA Gap Insurance concerns The FCA highlighted that the current system in which Gap Insurance is sold,...

Read More

New 2014 Hyundai i10

New Hyundai i10 is bigger, safer and better all round. The ever popular Hyundai i10 is claimed to offer ever more value for money than ever before. The all new Hyundai i10 will go on sale to the UK market early next year and will start from £8345. Based on a new platform the basic model will lose the opinion of air conditioning in lieu of having more airbags and improved safety. Moving up the Hyundai i10 range specification does increase. The European models of the i10 will be built in Hyundai’s manufacturing facilities in Turkey as opposed to the...

Read More