admitted liabilty, but the car has been written-off by the insurance company. We have been offered £800, but bought the car for £2200. Where do we stand as we are now out of pocket by £1400?
2007-10-29 09:09:00 · 10 answers · asked by gavin b 1 in Cars & Transportation ➔ Insurance & Registration
Start by proving your car was actually worth more than the offer, and take that to the insurance company. The first offer is always a low-ball.
Pull ads from the newspaper, on-line dealer sites, bulletin boards, etc, of similar vehicles in similar mileage, showing prices higher than their offer, and submit as much support as possible, based on the condition of your vehicle. They have offered the bottom wholesale price, you demand the highest retail price, and hopefully settle somewhere in between. However, your debt on the vehicle is not part of the equation, and can be used as leverage against you if you mention it.
2007-10-29 09:22:21 · answer #1 · answered by Fred C 7 · 1⤊ 0⤋
Yes you are in the horrible position that we are all in from time to time in that we owe more than the vehicle is worth. I do not follow you figures. The car was bought for £2200 you were offered £800 but how much do you actually owe on the car, i do not think it is now £1400 unless the interest charges on the loan have boosted it up. You are in for a bit of negotiation and I would point out to the third party insurers the true extent of you loss. The idea here is to put you so far as is possible back in the position you would have been had the accident not occurred. They have so far as the car is concerned but you now have other losses in that you have a loan to pay off and no car. If you get nowhere (keeping all copies of correspondence) and assuming you do not have legal expenses cover on your 3rd party insurance go and see a solicitor, if possible under the green card (legal aid) scheme . i think you get about half an hour so don't waste it
2007-10-29 18:32:53 · answer #2 · answered by Scouse 7 · 2⤊ 0⤋
What you need to do is prove to the insurance company that your car is worth £2200 IE go to Autotrader and find several cars of the same spec and the same price you paid and fax the examples of to the insurance company , with this ammo they will then pay up ,because by law they need to repair or replace your car back to the standard that the vehicle was before the accident .
2007-10-29 17:00:19 · answer #3 · answered by techman711 3 · 1⤊ 0⤋
The other driver is only liable for the damage that they have caused to the vehicle - not for how the vehicle is being purchased.
Your best bet is to see if you can get an improved offer from the isnurance company - so look in adverts and see how much other vehicles of similar make/ age are selling for,
2007-10-31 11:49:46 · answer #4 · answered by welcome news 6 · 0⤊ 0⤋
you will only get the market value for a write off.. it is usually based on vehicles priced in " glasses guide" you can claim for any extras you had fitted
other that this' you still owe the finance company £1.400
sorry
2007-10-29 16:19:03 · answer #5 · answered by gerard 4 · 2⤊ 0⤋
in the road without a car sympathise with you but too many lowlifes on the road with no respect for insured drivers should send them home really without giros
2007-10-29 18:21:51 · answer #6 · answered by tristar 2 · 1⤊ 0⤋
never accept the 1st offer the insurance company offer you, haggle
2007-10-29 16:57:39 · answer #7 · answered by Anonymous · 2⤊ 0⤋
take the other person to a small claim court and claim the money you have lost back
2007-10-29 16:15:15 · answer #8 · answered by Carol B 5 · 1⤊ 0⤋
Over here in the US, we'd say get a lawyer and sue.
2007-10-29 16:18:16 · answer #9 · answered by Resident Heretic 7 · 2⤊ 0⤋
first never admit to liability,if they did and you also was insured.then they buy law have to compensate you the deference.
2007-10-29 16:24:56 · answer #10 · answered by Amy B 3 · 0⤊ 1⤋