Car is a right off - still have 4years to pay......help me get out of it please.

Elize_2

Dave101t wrote: »

wow,
i love it when people get whats coming to them

Well that is slightly twisted of you to revel in other peoples unhappiness, but wait patiently and I’m sure you'll get yours.....

Elize_2

Apples2 wrote: »

You drove into a stationary bus.... and it's the fault of the bus?

Is it beginning to dawn on you why the insurance company wanted £1,400 for third party cover only??

your option is to continue your payments as before.... for the next 4 years

and buy a £400 slow old banger, maybe you will learn how to drive if you can't even keep up with buses never mind trying to shunt them off the road

I didn't say the bus was stationary - it wasn't at all. This is however not relevant as I was asking for advice in regards to the financial situation.

speedbird1973

You can't do anything.. if you stop repayments Welcome will come after the car, they'll find out you didn't have it insured as per the terms of the agreement and you'll end up in court.

Keeping paying and bear in mind you'll have a balloon payment in four years time as well.

While I don't revel in your situation like others.. you have made your own bed I'm afraid.. sleep well in it.

ILW

Elize wrote: »

I didn't say the bus was stationary - it wasn't at all. This is however not relevant as I was asking for advice in regards to the financial situation.

Fair enough some of the comments seem a little harsh, but regarding the financial situation I am at a bit of a loss as to what you are expecting.

You bought a car.
You did not insure it.
You wrote it off.
I cannot see how you can feel you should not pay for it.
If you don't who should?

Sorry if that is a bit blunt.

poppy_f1

happened to a ex of mine, he had to borrow cash from his mum to get a cheap runaround while paying off the finace off, he only had the car 2 weeks as well

negg

If you insure the car third party, you can't expect someone else to pay for it if it is damaged and it is your fault - you chose that level of cover when buying the insurance, sorry but that is a hard lesson to learn.

You still owe the money to Welcome Finance and nothing will change that. You also signed a legal document with them to promise fully comp insurance (hire purchase mean the car is legally owned by them, not you) but broke that legal document.

I hope every driver reads this to see the pitfalls of third party insurance, especially the young.

System

Gorgeous_George wrote: »

Off topic but what really bugs me is that the OP will probably NOT receive a fine or penalty points on his license.

When I got done for speeding at 35mph I was fined £60 and awarded 3 penalty points. That was after driving for 17 years without an accident and having covered over 200,000 miles.

GG

I don't understand what your point is here? You broke the speed limit and got caught and rightly fined and pointed. Its not like you have been hard done by here as everyone knows the speed limit and if you get caught speeding you have to pay the penalty!

sammiboo

I concur with what most people have said. If your car is TPFT then you are really chancing it. But you must have been aware of this when you decided not to take out FC insurance.

Life is a !!!!! and anytime it can bite you in the backside trust me it will. Best to reduce your chances as much as you possibly can.

You are responisble for the car so you are responsible for paying for it. As said best to carry on paying for it as I cannot see how you could possibley get out of paying for it. I would get a cheap run around with low insurance and learn from this.

I wasnt meaning to sound harsh but it was your choice to buy a new car and not insure it properly but everyone makes mistakes and its a shame that some people takes other peoples mistakes as an oppertunity to bash them for it :rolleyes:

Good luck and please let us know what happens

aj2703

petermb wrote: »

I bet some of you have never posted a single bit of good advice, ever.

You must lurk in the background until you can see a post that you can pounce on and have a sly dig at and then Smurk by thanking the poster with the most smug reply.

Do you do that to get out your frustrations at being hen pecked at home or what?
My God , you guys are so sad.

I TOTALLY AGREE. !!!!!! you lot seriously need to READ and take in what has been said. There you all go as usual putting the person down saying they should have got this and should have got that etc. DID ANY OF YOU CTUALLY READ THEIR !!!!!!!G POSTS...?.

To the origional OP. You said you ran into the back of the bus (yes i actualy read what you said) the reason you hit the bus was because the break lights wern't working you have said. Now at the scene did you tell the police this..?. This maybe your saving grace because even though you hit the bus, if the bus was defective i.e no break lights then it shouldn't have been on the road in the first place let alone carrying passengers (if there were any on that is). If you can prove this then you maybe able to sue for the cost of your car. See a solicitor or cab quick sharp and see what advice they give. If the bus genuinely had defective lights then push that point.

neas

I think OP, unfortunately did not receive the a-priori advice from a wise individual (insert father, uncle, older friend, mum etc etc here) on the ins and outs of life.

I will list them incase the OP hasnt learned.

1. 3rd Party insurance is for cars that you can 'afford' to pay back if you crash it and its your fault... or you are obscenely confident it would never be 50/50 or your fault in a crash. I.e a 500 quid banger could be on 3rd party as the cost to replace would be similar to increase in insurance payment.
2. If you are crashing your cars... maybe taking extra lessons or driving slowly never goes a miss.
3. Two second rule - say one one thousand, two one thousand at an object a car infront is currently at. If you get to the object before you finish.. you are most likely too close. I usually have about a 3 second approach.
4. Assume every other car driver is an idiot... and don't assume they 'see' you or ' will let you out'... or 'wont brake'... and you will do alot better.
5. Buying something on finance is never a great idea.... alas the 'i want it now' culture reigns supreme and you have been stung massively. You will be given the choice if you want to 'buy' the car or not when the initial term ends of the hire purchase agreement. Are you prepared to fork out the other 3-4k they will want for the car at that time? If you dont you will be pursued for debt....

6. Life is all about responsibilities, when you borrow money, it has to be repaid, most times with alot more because of interest rates. If you borrow money against an item, and then destroy said item... thats tought. The only way to protect yourself is fully comp.
7. Buy a cheap disposable camera and put in car to prove it aint your fault. If bus lights weren't working then pics would help.. and a phone call to police wouldnt go a miss. Bus company prob saw you coming if they were at fault.... Im guessign bus company has already settled with your insurers and you've prob already agreed it was your fault ;(

As others said you aint got much choice, i dont revel in your mistakes but if you pay 1400 quid 3rd part on a 5k car (and appear to be female) then you've prob had a crash before... so you should know how 3rd and fully comp works?

When we are children, we can say 'i didnt know', 'daddy help!'.... unfortunately as adults... we are responsible for taking and using our intelligence.....to protect against 'coming a cropper'.

Indeed i dont think you will make the same mistake again though. I definately wouldnt let my dad, mum, sister, kid buy a car on hire purchase though.. its such a loss of money...