I hope I'm posting to the right place - I'm new on here. I'm buying my first Mini Cooper, which is second hand (about 8 years old) for £6,800. The guy at the garage suggested I take out gap insurance, where, in the event of write off, they would make up the difference between what the insurance company paid and the purchase price of the car. Price of insurance quoted was £400. For 3 years.
I was initially taken with the idea of this. But, on reflection, I wonder if its worth it. Is a classic Mini Cooper really going to depreciate significantly in 3 years?
Just wondered if anyone else has experience of this and has any advice.