Spartan2013

Hello Gareth If you have new for old cover on you insurance it is possible to defer the GAP until the first year is up, although this was a private car I have been in the automotive industry for over twenty five years and now a consultant so I have seen this many times and during the training given to some of the dealers I have worked with we tell them about this option. This is now with the financial ombudsmen, them along with the FCA are looking into this as there are faults with both Audi FS and the insurer. If you were to get a quote from and insurer today it will probably tell you you have new for old but they, to my knowledge have nothing in their terms and conditions that states that this is subject to your finance company agreeing it. Around 80% of people who buy new retail cars from the VW Group (Audi, SEAT, Skoda and VW) will fund them with VWFS and will not know that this element of their insurance is invalid, I was just trying to warn people so if they are in this position then they should not defer the GAP as it will be needed in year one despite what your insure state. When I purchased the car and the insurance this was not an issue as Audi Finance changed their policy some seven months later, so at the time I was covered and had my car gone in March I would have had the replacement. There are different types of GAP policy, some offer a return to invoice and tend to be for used cars and others are a vehicle replacement insurance that will cover the cost of a new car including price increases and new models, this tends to be for people buying new cars. I am sure I will get this resolved one way or another but it will take time and has already become a very stressful process, I just wanted others to know so they can check their cover before anything happens to them Thanks Paul

Hello All Just a quick message to warn you of a massive issue that will soon come to light with many others. I have recently been caught out with a change of policy made by Audi Financial Services and wanted to warn everyone to check that they will not suffer the same substantial loss I am facing. I bought a new A6 Black Edition in September 2017, it is the 24th Audi my wife and I have owned and the fourth new Audi purchased in the last three and a half years, all of which have been funded with Audi Finance on a PCP. When buying my cars I always make sure I choose an insurer with the right level of cover and not just the cheapest, so for the A6 I choose Quote Me Happy which is part of Aviva, I did this because they have a very good and straight forward new for old policy in the first twelve months. Like a lot of people I have bought Vehicle Replacement Insurance (GAP) which was due to start once the car enters is second year as my insurance covers this in the first. Unfortunately my car was stolen whilst I was away on holiday at the end of July, so I spoke to my insurer who promptly told me that I can no longer have the new for old because Audi finance has changed their policy and will no longer allow it! I checked with Audi Financial Services and yes, they have changed the policy which happened in April 2018. My Insurance company has now offered me £26,500 for an 11 month old high spec A6 Black Edition that cost over £43,000 new a short time ago. My PCP settlement is significantly higher and will leave me now with a substantial shortfall, in excess of £10,000!! I have spoken to the insurer who say they can't do anything and Audi Financial Services will not change their position, what makes it worse is the attitude of the woman from the customer resolutions team who told me it was a business decision and wasn't in my contract to start with so nothing to do with me! If Audi had taken appropriate action they would have communicated this to all customers on finance and not just the insurance companies to give them a chance to change the cover they have and not be potentially exposed to the debt that I am now left with. Both Aviva and Audi Financial Services will do nothing to help me resolve this and I have requested Deadlock Letters from both so I can proceed with appropriate action through the Financial Ombudsmen. I have reported this to the FCA and will progress my complaint with the Financial Ombudsmen Early Intervention Team to try to get some sensible resolve here. What I find shocking is not just the change of policy, which makes no sense, but the failure to inform the customers and their appalling attitude towards the situation. My message and warning to all is that if your car is less than 12 months old, on finance with Audi Financial Services and you have new for old cover on your insurance you ARE NOT COVERED! The Financial Conduct Authority regulates these companies and it is a requirement for them to have policies that treat customers fairly, I don't believe that they have treated me fairly, nor do I believe that they have actually thought this policy change through as the consequences to people like me are catastrophic! Further more this policy change affects Volkswagen, SEAT and Skoda customers as well. I am led to believe that approximately 80% of new retail VW Group Cars are purchased on finance through one form of Volkswagen Financial Services across the four brands, thats a lot of people who have been caught out! I would urge you to check you insurance and gap policies as the likelihood is you no longer have protection from the cover you thought you purchased due to the VWFS Change!