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  • #1

    What to do? Urgent advice needed

    Hi All

    I have had a really shitty couple of days and need some urgent advice.

    DW was involved in a car accident. Fortunately she is all ok, and walked away from the crash with no serious injuries. This, as far as I'm concerned, is the absolutely main thing.

    Its what to do with the car that I need your advice/opinions on.

    Unfortunately it is a write off, no doubt about it. The problem is, the car was on finance, and I doubt that the insurance is going to pay off the finance. I didn't take gap insurance, so there is the likelyhood I will have a shortfall.

    So the question is, do I continue paying the finance and wait to see what the 'gap' will be and then argue with the finance company at that point?

    Or do I just stop paying the finance company because they are going to get the insurance money anyway?

    I just need some peeps with a more level head than I possess right now!

    Best
    SnV
    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

    The consumer is that sleeping giant.!!


    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.
    Tags: accident, advice, best wishes, car, finance, financial, fine, increase, insurance, insurer, life, money, niddy, paid, panic, pay, problems, reading, shortfall, small, stolen, stop, urgent, write off
  • #2
    Re: What to do? Urgent advice needed

    thanks goodness the mrs is ok, much more important that any old car.

    I think you need to sit down and take a big breath, then have a good read of your finance agreement and your insurance.

    immediate problems, do you need a car?
    does the insurance provide for this?
    how long have you been paying the agreement?
    why would you think the insurance won't cover it, is that not what insurance is for?

    big breaths, big brandy and a bit of reading......................

    Comment

    • #3
      Re: What to do? Urgent advice needed

      Originally posted by evenlessdopey View Post
      thanks goodness the mrs is ok, much more important that any old car.

      I think you need to sit down and take a big breath, then have a good read of your finance agreement and your insurance.

      immediate problems, do you need a car?
      does the insurance provide for this?
      how long have you been paying the agreement?
      why would you think the insurance won't cover it, is that not what insurance is for?

      big breaths, big brandy and a bit of reading......................
      Thanks ELD

      The problem that we have is the book price for the car isn't as much as what is still outstanding on the finance.

      We haven't paid off 50% of the finance yet, so can't VT. Plus as its a write off we couldn't VT it anyway!

      So although the insurance should pay something it probably won't pay whats outstanding on the balance?

      Brandy and reading has already started
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment

      • #4
        Re: What to do? Urgent advice needed

        I don't know the answer to your problem but I am happy your OH is fine, that is worth more than anything.

        It might be worth waiting to see what unfolds first before jumping to any conclusions - you never know - but good luck




        Comment

        • #5
          Re: What to do? Urgent advice needed

          Hi All

          Ok so financial panic over, at least for now. I am hoping that the market value for the car is going to at least cover the redemption figure.

          OH is getting much better. Certainly puts a different perspective on life.

          Best
          SnV
          "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

          The consumer is that sleeping giant.!!


          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

          Comment

          • #6
            Re: What to do? Urgent advice needed

            That's good news, I hope all will end okay




            Comment

            • #7
              Re: What to do? Urgent advice needed

              Originally posted by SaltnVinegar View Post
              OH is getting much better. Certainly puts a different perspective on life.

              Best
              SnV
              glad to hear it mate - best wishes
              I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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              Comment

              • #8
                Re: What to do? Urgent advice needed

                My VW got stolen and written off some years ago, Had an issue with the insurance company (direct line) trying to wriggle out of writing the car off, replaceing non standard parts to lower the write off percentage etc. VW told me to stop paying the finance (it was with vw finance) however the finance company didnt like it, kept demanding payment.

                Explained to them i wasnt going to pay the finance while the insurance was debating whether to write the car off or not, and would want to wait till they made a decision, they wasnt interested.

                Short of it is, i went BR, so car got written off with that, but thats all i can say really lol
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                Comment

                • #9
                  Re: What to do? Urgent advice needed

                  Originally posted by Never-In-Doubt View Post
                  glad to hear it mate - best wishes
                  Thanks Niddy
                  "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

                  The consumer is that sleeping giant.!!


                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                  Comment

                  • #10
                    Re: What to do? Urgent advice needed

                    Originally posted by vossy View Post
                    That's good news, I hope all will end okay
                    Thanks Vossy - will let you know when the insurance company provide their final 'offer'
                    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

                    The consumer is that sleeping giant.!!


                    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                    Comment

                    • #11
                      Re: What to do? Urgent advice needed

                      Whatever you do, do not accept the insurer's first settlement offer - in fact, nor their second; even if it covers the redemption figure on your finance agreement.

                      For a small amount of effort you WILL be able to get them to increase the value of your written off car.

                      Comment

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