While the team at CarLease UK do hope that every customer enjoys a smooth and efficient transaction with their new car leasing deal, unfortunately we can only manage certain risks. Therefore, if you are currently going through the process of looking for a new car, you do need to consider the information below and ensure you take every step necessary to manage any foreseeable risks that could arise during the course of the agreement.
Guaranteed Asset Protection Insurance (“GAP Insurance”) is a product which CarLease UK can offer a customers in conjunction with their vehicle.
GAP Insurance is designed to cover a motorist's financial shortfall in the event their vehicle is declared a total loss. There are several GAP schemes and products which are available to the customer including:
Finance guaranteed asset protection provides the protection between the value of a car on the day it was stolen or written off and the outstanding finance on the vehicle.
In the event of a vehicle being declared a total loss, this product will help the customer bridge the difference between the motor insurer pay-out and the original invoice price of the vehicle.
From 1 September 2015 the Financial Conduct Authority (FCA) introduced new rules for firm distributing GAP insurance in connection with the sale of a motor vehicle (add-on GAP). This means that firms must:
For you, the customer, this means added protection to protect against point-of-sale advantage products. At CarLease UK we endeavour to treat all customers fairly and, as part of this, we have supplied key information below to help you in your decision on GAP Insurance:
If you require any further information in relation to the above, please let us know.
CarLease UK do not offer car insurance in conjunction with any of our offers. However, it is a mandatory obligation to insure your vehicle and this is your responsibility to so. CarLease UK have discovered that there is not one particular insurance company that offers a better deal; it is very much a process of using insurance comparison websites to assist you. Please do ensure you arrange your car lease insurance before committing to your next deal.
Should you require any further information about Gap Insurance, please do speak with the team at CarLease UK today.
Contact us by calling 01942 608 606 or by emailing email@example.com