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PCP/Insurance/GAP write off advice needed

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Hi all,


I have just had my 22 day old 62 plate VW Golf mk6 written off due to flood damage. It is on VW PCP finance, insured through Churchill and I purchased GAP insurance from the main dealer. The car cost £24k in total (inc £1k worth of factory fitted extras) but was financed for £17k - the rest paid by £2k VW cashback and my part exchange.


Churchill have offered me £19k cash or the option to replace the car under their less than 12 month old 1st owner scheme.


Problem is as VW don't make the mk6 anymore so the only replacement I can get is the same car less the £1k in factory fitted extras.


This means I will be out of pocket by £1k as if Churchill replace the vehicle they will not give me the difference.


I have spoken to my GAP insurance and was hoping to use the £19k cash from Churchill and the £5k from the GAP to pay off the finance company and start again but because Churchill have offered me a replacement vehicle the GAP insurance say they will not pay out the difference and it is up to Churchill to replace the vehicle as it is under 6 months old.


I really don't know what to do as I feel I am stuck between a rock and a hard place.


Any advice will be greatly received.



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I had a car written off by a third party turning right in front of me at lights some 16 years ago, and at the time the insurance companies didt take any finance used by the owner to purchase into account wrt a payout.


This may have changed in the meantime, my car was was immaculate prior to the crash, but the assessors used the price given in the Glass catalogue and I lost out through that as well. It was also a car that the manufacturer had discontinued two years previously, the only option being a higher grade / option model, whoch was not accepted as a suitable replacement, despite me willing to pay fo the difference in list price.


I still feel that I was shafted and probably should have sought the advice of a solicitor.

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