What to do? Urgent advice needed

[Lakeside1]

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.

[SaltnVinegar]

Re: What to do? Urgent advice needed

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

Thanks Vossy - will let you know when the insurance company provide their final 'offer'

[SaltnVinegar]

Re: What to do? Urgent advice needed

glad to hear it mate - best wishes

Thanks Niddy

[SXGuy]

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

[Never-In-Doubt]

Re: What to do? Urgent advice needed

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

Best
SnV

glad to hear it mate - best wishes

[vossy]

Re: What to do? Urgent advice needed

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

[SaltnVinegar]

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

[vossy]

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

[SaltnVinegar]

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......................

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

[MrsD]

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......................

[SaltnVinegar]

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