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  • FIRST POST
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 5:19 PM
    • 14Posts
    • 12Thanks
    dj_uk_1234
    PCP / Write Off / Value offered
    • #1
    • 19th May 17, 5:19 PM
    PCP / Write Off / Value offered 19th May 17 at 5:19 PM
    Hi guys,

    New poster, so be gentle. So, disaster, a couple of weeks ago a vehicle has hit my partners new car.

    It's a fairly new Mercedes, bought in September last year which we paid around 25k for. We've done around 5,000 miles since buying, and the vehicle has now been confirmed a write off.

    With the PCP, and the money paid so far on the car, she owes a little over 20k. The insurance company have valued the car at £21,000, leaving her with just £700 to be paid out to her.

    This is a huge loss for us, means we now can't afford another new car. Solicitors are involved re personal injury etc, but the insurance have been dragging their feet and seem unwilling to help any further. Solicitors say due to the complex nature of the case it could be months and months before anything is paid for personal injury. Is there anything or anyone that can assist or offer any advice for what feels like a substantial loss.

    I'll be honest, new to this, never had anything like this happen before and the first time in this situation. Is this the nature of the beast? Do we have to shut up and put up with this. We traded in an Audi A3 with the car to get the price down, and now stuck with no car and only £700 for a new one.

    Any advice? Anything else we can do to get things moving? Are we best arguing with the solicitors or the insurers. Literally, any advice would be appreciated.

    Many thanks
Page 1
    • Mercdriver
    • By Mercdriver 19th May 17, 5:38 PM
    • 1,433 Posts
    • 956 Thanks
    Mercdriver
    • #2
    • 19th May 17, 5:38 PM
    • #2
    • 19th May 17, 5:38 PM
    You can challenge the valuation, but I'm not sure you will have much joy there - it could be worse, you could be in negative equity - has the finance company given you the settlement figure that the insurers have to pay? Is that what you are working from?
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 5:46 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    • #3
    • 19th May 17, 5:46 PM
    • #3
    • 19th May 17, 5:46 PM
    Yes, working from that figure. Settled from Mercedes was around £20,300, value was £21000.

    We had GAP Insurance as well, but that won't make any difference i believe with the value being more than owed.
    • motorguy
    • By motorguy 19th May 17, 5:55 PM
    • 15,655 Posts
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    motorguy
    • #4
    • 19th May 17, 5:55 PM
    • #4
    • 19th May 17, 5:55 PM
    Yes, working from that figure. Settled from Mercedes was around £20,300, value was £21000.

    We had GAP Insurance as well, but that won't make any difference i believe with the value being more than owed.
    Originally posted by dj_uk_1234
    Surely the GAP insurance is "Return To Invoice"?

    Did you get it through Mercedes? Theirs is (almost certainly) RTI?
    You are not special. You are not a beautiful and unique snowflake.
    • dacouch
    • By dacouch 19th May 17, 6:34 PM
    • 20,264 Posts
    • 12,510 Thanks
    dacouch
    • #5
    • 19th May 17, 6:34 PM
    • #5
    • 19th May 17, 6:34 PM
    How much was the new cost of the car when you purchased it?
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 6:50 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    • #6
    • 19th May 17, 6:50 PM
    • #6
    • 19th May 17, 6:50 PM
    Unsure on the "RTI", not even aware of that to be honest. The value of the car was around £25,000, i think. It was a second hand car but bought through the dealership, as was the GAP Insurance (Mercedes)
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 6:55 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    • #7
    • 19th May 17, 6:55 PM
    • #7
    • 19th May 17, 6:55 PM
    Unsure on the "RTI", not even aware of that to be honest. The value of the car was around £25,000, i think. It was a second hand car but bought through the dealership, as was the GAP Insurance (Mercedes)
    Originally posted by dj_uk_1234
    I note their website states:

    If you have chosen to finance your Mercedes-Benz?
    Mercedes-Benz Combined GAP Insurance makes up any shortfall between your motor insurance settlement offer and the original purchase invoice price, or if greater the shortfall between the finance settlement.

    What is Mercedes-Benz Lease GAP?
    In the event of your vehicle being written off, Mercedes-Benz Lease GAP Insurance is designed to protect you against the risk of any shortfall in your lease agreement. Following the comprehensive motor insurance settlement, Mercedes-Benz Lease GAP Insurance will pay the difference between this and the cost to clear your lease agreement and help you start a new one.

    I will have to check which one we have, presumably what their finance team have said it's going to the bottom one (just the cost to clear the lease agreement)
    • motorguy
    • By motorguy 19th May 17, 7:08 PM
    • 15,655 Posts
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    motorguy
    • #8
    • 19th May 17, 7:08 PM
    • #8
    • 19th May 17, 7:08 PM
    I note their website states:

    If you have chosen to finance your Mercedes-Benz?
    Mercedes-Benz Combined GAP Insurance makes up any shortfall between your motor insurance settlement offer and the original purchase invoice price, or if greater the shortfall between the finance settlement.

    What is Mercedes-Benz Lease GAP?
    In the event of your vehicle being written off, Mercedes-Benz Lease GAP Insurance is designed to protect you against the risk of any shortfall in your lease agreement. Following the comprehensive motor insurance settlement, Mercedes-Benz Lease GAP Insurance will pay the difference between this and the cost to clear your lease agreement and help you start a new one.

    I will have to check which one we have, presumably what their finance team have said it's going to the bottom one (just the cost to clear the lease agreement)
    Originally posted by dj_uk_1234
    If you have PCP then you have the former - which is good news!
    You are not special. You are not a beautiful and unique snowflake.
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 7:19 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    • #9
    • 19th May 17, 7:19 PM
    • #9
    • 19th May 17, 7:19 PM
    Right, will have a proper look at this, i'm sure it is but i'm doubting my self now. I wasn't involved in the documents side of things and haven't looked, going on what she has said, will post back with confirmation when documents in front of me. Really appreciate this.
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 7:42 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    Right, so, found some paperwork. The header says "Agility Agreement, (Personal Contract Plan).

    After looking at the invoice for Mercedes the gap insurance, we paid £399 and it says "RTI Combigned GAP up to £25k"

    Have they advised her wrong?
    • takman
    • By takman 19th May 17, 7:49 PM
    • 2,812 Posts
    • 2,353 Thanks
    takman
    Right, so, found some paperwork. The header says "Agility Agreement, (Personal Contract Plan).

    After looking at the invoice for Mercedes the gap insurance, we paid £399 and it says "RTI Combigned GAP up to £25k"

    Have they advised her wrong?
    Originally posted by dj_uk_1234
    Ring up the Gap Insurance Provider on the claim number and ask them what it covers, but it should almost certainly cover up to the price you originally paid otherwise it's pretty rubbish.

    But remember do not accept any offer from the insurance company before speaking to the GAP insurance or it will not pay out.

    Plus for future reference don't buy GAP insurance from the dealership because it is less than half the price online.
    • debtdebt
    • By debtdebt 19th May 17, 7:52 PM
    • 318 Posts
    • 199 Thanks
    debtdebt
    I reckon that's good news and you've got RTI cover for the full £25,000 the car cost when purchased.
    • dj_uk_1234
    • By dj_uk_1234 19th May 17, 8:03 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    Thanks guys, not getting my hopes up, but will challenge them on monday.

    Hopefully it was a Mercedes staff member in a call center somewhere who has got it wrong.
    • daveyjp
    • By daveyjp 20th May 17, 9:23 AM
    • 7,147 Posts
    • 5,551 Thanks
    daveyjp
    You need to contact the GAP insurer, but be prepared to play "piggy in the middle" while the two parties argue the gap figure.

    Until that is sorted you won't get anything except an empty parking space.

    Keep us informed as to how the Gap insurance claim goes.
    • dj_uk_1234
    • By dj_uk_1234 22nd May 17, 11:52 AM
    • 14 Posts
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    dj_uk_1234
    So guys, quick update

    After speaking to Mercedes this morning, and possibly the most vile woman on the planet, i've marched down to the showroom and spoke to the finance manager face to face, as the vile old crow couldn't find any record of the GAP insurance.

    He has found the details straight away, confirming it is RTI and covers up to the 25k paid. Got home, spoke to a direct line he gave who confirmed we had it, they'll send the emails for us to sign and to not accept the insurance.

    You guys, have been great, will keep you updated if you don't mind me bumping the thread every now again, but really appreciated, and hopefully things start moving.... although going down to the showroom wasn't a great idea, i'm now eying up a £35k A45 lol
    • motorguy
    • By motorguy 22nd May 17, 5:20 PM
    • 15,655 Posts
    • 8,963 Thanks
    motorguy
    So guys, quick update

    After speaking to Mercedes this morning, and possibly the most vile woman on the planet, i've marched down to the showroom and spoke to the finance manager face to face, as the vile old crow couldn't find any record of the GAP insurance.

    He has found the details straight away, confirming it is RTI and covers up to the 25k paid. Got home, spoke to a direct line he gave who confirmed we had it, they'll send the emails for us to sign and to not accept the insurance.

    You guys, have been great, will keep you updated if you don't mind me bumping the thread every now again, but really appreciated, and hopefully things start moving.... although going down to the showroom wasn't a great idea, i'm now eying up a £35k A45 lol
    Originally posted by dj_uk_1234
    Thats great news, and good that you pushed it - bunch of chancers!

    The A45 is a great car! We love ours.

    Be aware of the following though :-
    • It likes a drink - budget for 25mpg.
    • It wants to be driven everywhere at 90mph.
    • Everyone else on the road will seem slow
    • You start to think things like - when you're driving along and sitting behind 7 cars "i can take these all!"

    On a more serious note -
    • There are big discounts on brand new ones - your dealer will laugh and tell you otherwise, but persist. We got £5K off ours, and £6K seems easily possible - www.broadspeed.com which means you could buy a brand new one for the price of a used one.
    • There are better PCP deals available on new ones than used ones, so if you're going down that route you may find that its no more expensive to get a new one.
    You are not special. You are not a beautiful and unique snowflake.
    • motorguy
    • By motorguy 22nd May 17, 5:25 PM
    • 15,655 Posts
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    motorguy
    And yes, do keep us updated!
    You are not special. You are not a beautiful and unique snowflake.
    • dj_uk_1234
    • By dj_uk_1234 22nd May 17, 9:54 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    Brill advice, thank you. I've tried persuading the Mrs but she is having none of it, she is happy with the A220, AMG we had before, and wants the same, not happy lol.

    Again, thanks guys, feel like things are moving.
    • dj_uk_1234
    • By dj_uk_1234 28th Jun 17, 6:12 PM
    • 14 Posts
    • 12 Thanks
    dj_uk_1234
    Hello again, you said you didn't mind an update, so here i am.

    Challenged what they said, and got through to a helpful chap who ciuld be bothered to do his job. Confirmed that we do have RTI, and started the process (it has been very very painful between the GAP insurance and her own insurance. They have paid out, and we now have the old car paid off and picking up our brand new 17, plate car tomorrow, which is better spec.

    We're now waiting for the solicitors etc to deal with the personal claim side of things, which due to the circs will take months. Thanks for the advice, got there in the end. Nearly 8 weeks with only one car was challenging at times lol
    • Penelopa.Pitstop
    • By Penelopa.Pitstop 29th Jun 17, 1:38 PM
    • 238 Posts
    • 108 Thanks
    Penelopa.Pitstop
    Make your research this time around and buy GAP outside of dealer network, it will cost half of their price. And make sure you read all paperwork so there's no surprise like last time.

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