Buy Gap Insurance for Toyota

What is vehicle replacement insurance and why should you consider this level of gap insurance for your Toyota?

Vehicle replacement insurance is the latest form of gap insurance and is not normally available from Toyota Main dealerships. While it is very similar to other forms of return to invoice gap insurance the is one very important and very distinctive advantage. 

Inflation proofing - This is because instead of simply protecting the original invoice price you paid you are now instead protecting the replacement cost even if it has gone up.

Vehicle replacement insurance pays the difference between your Toyota's valuation on the day it is written off and the mount of money you would need to spend to buy another Toyota the same age, mileage and specification as your's was on the day that you drove it home from your Toyota Dealership.

So what does vehicle replacement insurance really mean to you if your Toyota is written off?

Well lets look at a real life example and for illustration purposes lets say that you have just bought a demonstrator Toyota Yaris.

Being a demonstration vehicle it is 85 days old when you buy it and it has lots and lots of nice factory fitted options such as touch screen satellite navigation, fabulous metallic paint and the style pack. It also only has 1025 miles on the clock. You haggle down the price and for your Toyota Yaris T Sprit 5 door from £14735 for a basic car to just £12895 even with all the optional extras.

Two years later your Yaris skids on Black ice.

It is no-one fault and thank fully your Yaris performs just as expected in that it absorbs the impact of the accident meaning that you and your passengers can walk away from the accident with just minor bruises.

Unfortunately your motor insurance company decide that it is not economically viable to repair your Yaris and write the car off.

According to What Car using current trends and rates of deprecation your Yaris is now worth just £7776, (based on average mileage and average usage). Without any form of protection this would be the only amount, with out having to use your savings, that you would have to buy another Yaris, or clear any finance.

Even if you had chosen to protect your Toyota with a form of Return to invoice gap insurance which would pay the difference between your own motor insurance companies settlement and the original invoice price you paid getting back the full £12895 ( less road fund which you can claim back from Swansea) you would still have a massive shortfall between that the the amount you would need to spend to buy another Yaris with all the factory extras your's had.

This is exactly where vehicle replacement insurance can help, as because your vehicle was under 90 days old when you bought it and because the only registered keeper apart from you was the Toyota garage your settlement would be based on the amount that you would need to spend to buy another BRAND NEW Yaris with all the extras.

Your own motor insurance company settlement is £7776

The cost to buy a new Yaris with all the factory options and additional inflation is £15295.

Your vehicle replacement policy would pay £7519
Your policy would also pay £250 towards your own motor insurance excess.

Simply put you now have the amount that you would need to spend to buy another Yaris at the prices being charged at that time.

From this you can clear any finance if  needs be and the rest, the deposit you paid, the equity you have and now the inflationary increased cost is yours to do with as you see fit.

Don't forget that we all accept that over time prices of used vehicles will drop, we equally all accept that over time prices of new and nearly new Toyota's increase.  VAT fluctuations, labor rates, manufacturing, transportation even exchange rates means that buying another Toyota in a few years time is more than likely to cost your more.

Vehicle replacement is almost like return to invoice gap insurance but with an inflation proof aspect built in. With the facility to defer your start date, transfer your policy and even cancel with a pro rate refund as well as many additional policy features why buy gap insurance for your Toyota from any where else?

Instead why not click or call and speak to a member of the team about what vehicle replacement can do to help protect your Toyota?

What can Return to Invoice do to help protect you and your Toyota?

Return to invoice gap insurance is just like any other insurance it can not really ever stop anything bad from happening. Instead it can protect you in the only way insurance can, financially. This means that if your Toyota joins the estimated 600,000 other vehicles written off in the UK alone each year at least the financial worry is taken away.

So how does return to invoice gap insurance for your Toyota work?

Lets look at a real life example and for illustration purposes lets say that you have just bought a Toyota iQ. According to What Car you will of paid in the region of £11,875. Now we all know that cars even your shiny Toyota will lose value of time. After all lets be honest you would not expect to pay the same price for a four year old Toyota as you would from a brand new model. The amount that your Toyota looses is called depreciation and motoring experts anticipate the average vehicle with average usage to depreciate anywhere from 50% to 60 % within the first three tears alone.

From example again based on What car your Toyota iQ would drop to £7725 by the end of the first year, £6325 by the end of the second year, £5200 by the end of the third year and the fourth year just £4425.

Again for illustration purposes the details of how your Toyota was written off are not important instead the most important aspect is that no matter hat the circumstances where your own motor insurance company are happy to settle and offer you what your Toyota was worth on the day which just before your cars third birthday would be in the region of £5,500.

Without any form of protection and without using your savings the £5,500 would be the only amount that you would have to replace your Toyota or to clear any finance if needs be.

If you had taken a form of return to invoice gap insurance your own motor insurance regardless or gap insurance or not would still offer you the market value. But now your gap insurance would pay the difference between this valuation and the original invoice price you paid.

Motor insurance settlement £5,500
Gap Insurance £6375
Gap insurance Contribution towards your own motor insurance excess £250.

Simply put you now have the full price you paid back, you can clear any finance is necessary and the balance is yours to do with as you see fit.

Please remember that not all return to invoice gap insurance policies are the same and that ours have many additional features so before you buy gap insurance for your Toyota from anywhere else why not compare our levels of protection.

Simply click or call 0800 195 4926 and find out exactly what return to invoice gap insurance can do for you and your Toyota?

What is Finance Gap Insurance for Toyota and how does it work?

Finance gap insurance is the oldest and some say easiest level of gap insurance to understand. 

No matter if you have bought your Toyota on Contract hire or another form of finance directly linked to your Toyota your policy would pay the difference between your Toyota's valuation on the day it is written off and the amount you would need to clear your financial liability.



No matter if your finance or contract hire company call it a rental contribution or settlement. In fact how ever they wish to call it if your Toyota is written off the without any form of cover your are labile for any difference between your Toyota's valuation on the day and the amount you still have outstanding sometimes called a financial shortfall.

So how can this shortfall ever happen?

Don't forget that it is a harsh but completely true fact of life that vehicles loose value over time.
Equally that your own motor insurance company are only ever legally obliged to pay you what your Toyota is worth on the day it was written off.

Combine these two facts together and factor in the fact the motoring experts anticipate that the average vehicle with average mileage can lose up to 50% or even 60 % within the first three years alone and it is easy to see how shortfalls of many many thousands of pounds happen.

While no one can ever guarantee exactly how much a certain make or model of vehicle can be worth after all public opinion, exchange rates and market forces can play a massive part, using current rates of depreciation, and trends according to What car if you have just bought a ...

Toyota Auris 1.3 VVti Colour Collection you would of paid in the region of £13,845 but by the end of the first year your Toyota is estimated to be worth £8875, year two £7300, year three £5976 and your Toyota's forth birthday just £5125.

If you had bought a Toyota Rav4 2.2 D-4D 150 XT-R 4WD 5Door you wold of paid approximately £26,040 and by the end of the first year your Toyota is predicted to have a value of £15,624, the second year £12851, the third year £10,549 and by the end of the fourth year just £9,025.

These rates of depreciation are by no means excessive instead perfectly normal.

In fact the rate at which your Toyota losses value is never normally an issue as you buy or contract hire a vehicle to use not as an investment. However if your Toyota joins the estimated 600,000 other vehicles written off in the UK alone each year it can become a huge financial burden.

No-one ever plans to be involved in an accident and no-one ever plans to have their vehicle stolen however it happens hundreds and thousands of times day in and day out. Yes finance gap insurance is just like any other insurance and just because you protect your vehicle will not mean that it will never be written off. 

Instead by choosing to protect your Toyota with finance and contract hire gap insurance you are simply ensuring that if it does then the financial aspects at least are taken care of.

With on-line finance and contract hire gap insurance for your Toyota prices up to 85 % less than Toyota main dealerships and cover from as little as £34 is a really a chance worth taking? 

Toyota is one of the worlds largest if not the largest car makers in the world. Being world known for their reliability, value for money and specification levels Toyota are as popular as ever.

The birth of Toyota started over 60 years go when Sakichi Toyota ran a very successful weaving loom business in post war Japan. This business was then sold to a British company and with the money he made his son Kiichiro diversified into the motor trade. He had studied car production and design in the USA  and the business grew and grew. 

In fact within two years Toyota where already making over 2000 cars, trucks and buses per month. 

Production was detrimentally affected during the second world war and this accumulated with Kiichiro resigning after a series of strikes and company  losses. But the new management team had also studied the meteoric growth and applied what they had learnt and in 1961 the Toyota Starlet hotly followed by the Toyota corolla was launched originally in rear wheel drive versions. 

The Car giant explored new markets with the Toyota MR2 in 1984 which was aimed at being a low cost sports car and they sold millions as did the critically acclaimed Toyota Celica and later the Toyota GT -Four and Supra. 

On a world wide basis the Toyota Landcrusier and Rav 4 where also forging headway into the ever popular 4x4 and utility markets.

By 2002 the Toyota Carina had given way to the Toyota Avensis and Verso ranges.

The MR2 was also transformed into a sleek back to basic roadster while the Toyota Yaris is one of the nations favorites. It is also thanks in part to Toyota that the age of the green car was heralded with the ever forward think Toyota Prius and other hybrid versions. Not to mention the fuel efficient super mini Toyota iQ. They also have a strong foot hold in the commercial van markets with the Hilux.

In fact over the last 60 or so years Toyota has earned the reputation of no-nonsense value for money and practicality.

EasyGap's following products: Vehicle Replacement Gap Insurance, Return to Invoice Gap Insurance and Finance and Contract Hire Gap Insurance has been independently assessed and rated by financial research company Defaqto as 5 Star.