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  • FIRST POST
    • thebullsback
    • By thebullsback 6th Sep 17, 7:38 PM
    • 349Posts
    • 31Thanks
    thebullsback
    trade in car involved in crash
    • #1
    • 6th Sep 17, 7:38 PM
    trade in car involved in crash 6th Sep 17 at 7:38 PM
    HI All, a relative of mine has today been involved in a car accident in a car that she was due to trade in as part of a new car deal next week.
    Accident was her fault .
    She had been offered £1100 trade in off new car.
    What happens now please???
    Keep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.
Page 1
    • forgotmyname
    • By forgotmyname 6th Sep 17, 7:42 PM
    • 25,728 Posts
    • 10,228 Thanks
    forgotmyname
    • #2
    • 6th Sep 17, 7:42 PM
    • #2
    • 6th Sep 17, 7:42 PM
    Depends on how bad it is.

    She claims from her insurance and waits for it to be repaired before part exchanging. Or she takes the car as is to the dealership and see what they offer for it now.

    Or several other options but again all depending on what state the car is in?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • debtdebt
    • By debtdebt 6th Sep 17, 7:44 PM
    • 276 Posts
    • 170 Thanks
    debtdebt
    • #3
    • 6th Sep 17, 7:44 PM
    • #3
    • 6th Sep 17, 7:44 PM
    She no longer has a car to trade in.

    Depends what she wants to do. Personally, I'd wait for the insurance to either repair the car and trade it in then. Alternatively, if its gets written off, hope that she gets £1100.
    • panika
    • By panika 6th Sep 17, 7:57 PM
    • 131 Posts
    • 137 Thanks
    panika
    • #4
    • 6th Sep 17, 7:57 PM
    • #4
    • 6th Sep 17, 7:57 PM
    I would wait, what her insurance will offer.
    Probably she can get more then £1100. She can check on Autotrader how much are worth car like her with similar age and milage and negotiate with insurer.
    I am not sure if she has signed anything with trader who was going to take this car and what is the best way to deal with this.
    • loskie
    • By loskie 6th Sep 17, 8:23 PM
    • 1,099 Posts
    • 664 Thanks
    loskie
    • #5
    • 6th Sep 17, 8:23 PM
    • #5
    • 6th Sep 17, 8:23 PM
    it will not take a lot to make a car worth 1100 to be a write off. That would be the best case scenario.
    • Robisere
    • By Robisere 6th Sep 17, 8:47 PM
    • 1,740 Posts
    • 2,537 Thanks
    Robisere
    • #6
    • 6th Sep 17, 8:47 PM
    • #6
    • 6th Sep 17, 8:47 PM
    1 - What make/model/year is the crashed trade-in?
    2 - What make/model/year is the car she was wishing to buy?

    I can't see a better option than waiting for the insurance offer, but (dependent upon 1 above) it may not be as much as hoped - for.
    There may be more than one way to skin a cat.
    But the result is always inedible.

    • HogMan
    • By HogMan 6th Sep 17, 9:04 PM
    • 56 Posts
    • 27 Thanks
    HogMan
    • #7
    • 6th Sep 17, 9:04 PM
    • #7
    • 6th Sep 17, 9:04 PM
    A few days before I was due to pick up my new car I broke one of the wing mirrors off clipping a wall. I taped it up and took it to the dealership on the appointed day.

    When I confessed what I had done to the dealer he wasn't bothered in the slightest. It had no impact on the deal.
    • BeenThroughItAll
    • By BeenThroughItAll 6th Sep 17, 9:14 PM
    • 4,413 Posts
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    BeenThroughItAll
    • #8
    • 6th Sep 17, 9:14 PM
    • #8
    • 6th Sep 17, 9:14 PM
    A few days before I was due to pick up my new car I broke one of the wing mirrors off clipping a wall. I taped it up and took it to the dealership on the appointed day.

    When I confessed what I had done to the dealer he wasn't bothered in the slightest. It had no impact on the deal.
    Originally posted by HogMan
    Do you not think it might have been a different story if you'd written the thing off rather than just knocking a mirror off.
    • unholyangel
    • By unholyangel 6th Sep 17, 9:17 PM
    • 11,290 Posts
    • 8,506 Thanks
    unholyangel
    • #9
    • 6th Sep 17, 9:17 PM
    • #9
    • 6th Sep 17, 9:17 PM
    I don't see how the trade in value can't be used as the cars value.

    Usually you need to muck around getting values of other similar cars because there is no definitive value attached to yours and its not possible to retrospectively get one after its written off (you can get one for similar cars, but not your exact car in the condition it was in prior to the accident).

    But in this case, there seems to be a proven market value. Worst case scenario, they can appeal via the financial ombudsman.
    Money doesn't solve poverty.....it creates it.
    • caprikid1
    • By caprikid1 7th Sep 17, 7:02 AM
    • 459 Posts
    • 473 Thanks
    caprikid1
    I don't see how the trade in value can't be used as the cars value.

    Usually you need to muck around getting values of other similar cars because there is no definitive value attached to yours and its not possible to retrospectively get one after its written off (you can get one for similar cars, but not your exact car in the condition it was in prior to the accident).

    But in this case, there seems to be a proven market value. Worst case scenario, they can appeal via the financial ombudsman.
    Originally posted by unholyangel

    Of course it may not be the cars value. The trade in is part of a deal not a standalone transaction. Get a huge discount of the cat you are buying then get a poor trade in value.

    If you want a realistic value for a car look at ebay sold prices , that is as good as you get Un my opinion.

    I've known dealers offer far more as a straight purchase for a car than a trade in. So what was the value ?
    • AdrianC
    • By AdrianC 7th Sep 17, 8:55 AM
    • 15,099 Posts
    • 13,415 Thanks
    AdrianC
    I don't see how the trade in value can't be used as the cars value.

    Usually you need to muck around getting values of other similar cars because there is no definitive value attached to yours and its not possible to retrospectively get one after its written off (you can get one for similar cars, but not your exact car in the condition it was in prior to the accident).

    But in this case, there seems to be a proven market value. Worst case scenario, they can appeal via the financial ombudsman.
    Originally posted by unholyangel
    <nods>

    Phone insurance. Explain situation. Agree write-off for £1,100. Phone dealer. Explain that it'll be another £1,100 cash instead of PX.

    Job jobbed.
    • LandyAndy
    • By LandyAndy 7th Sep 17, 9:16 AM
    • 23,844 Posts
    • 50,494 Thanks
    LandyAndy
    I don't see how the trade in value can't be used as the cars value.

    Usually you need to muck around getting values of other similar cars because there is no definitive value attached to yours and its not possible to retrospectively get one after its written off (you can get one for similar cars, but not your exact car in the condition it was in prior to the accident).

    But in this case, there seems to be a proven market value. Worst case scenario, they can appeal via the financial ombudsman.
    Originally posted by unholyangel

    Because we have no idea how much overtrade the dealer has put on the trade in. Its realistic market value could be £800, say, with the rest being a sweetener to shift an 'overpriced' car on the forecourt. The insurance company aren't going to pay out the over value.
    • bertiewhite
    • By bertiewhite 7th Sep 17, 11:32 AM
    • 555 Posts
    • 514 Thanks
    bertiewhite
    I'm assuming it's not part of a scrappage deal?
    • loskie
    • By loskie 7th Sep 17, 4:51 PM
    • 1,099 Posts
    • 664 Thanks
    loskie
    <nods>

    Phone insurance. Explain situation. Agree write-off for £1,100. Phone dealer. Explain that it'll be another £1,100 cash instead of PX.

    Job jobbed.
    Originally posted by AdrianC

    try and haggle more than the 1100 remember you should be reimbursed the retail price of the car: that's what it would cost you to replace.
    I paid £1400 for my old Subaru. Was written off and I got 1900 a year after purchase from the 3rd party insurer.
    • AdrianC
    • By AdrianC 7th Sep 17, 5:01 PM
    • 15,099 Posts
    • 13,415 Thanks
    AdrianC
    try and haggle more than the 1100 remember you should be reimbursed the retail price of the car
    Originally posted by loskie
    Equally, the insurer are under no obligation to leave you better off than if the claim had not happened.
    • loskie
    • By loskie 7th Sep 17, 7:34 PM
    • 1,099 Posts
    • 664 Thanks
    loskie
    they should put you back into the position you were before the incident ie not "betterment". They need not know about the trade in.
    A lot depends whether or not the trade in price was realistic or inflated as many are to soften the purchaser and added to the sticker price.
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