Buying car back from Tesco Insurance

chris980

Hi

I have been advised that my car is beyond economical repair by tesco insurance, and therefore they want to write the car off. They have offered me the market value of the car for it to be written off, but the car is on finance so I see none of this money. They have also offered me the chance to retain the car at a percentage of its value which is the option I would like to take (a family friend who is a mechanic says the car is actually fixable and it does not need a new engine as the engineer claims) but since the car is on finance, the finance company are not willing to let me have this option as the car is technically theirs (fair enough).

The engineer also said that he had received an offer from a salvage company of £1800 for the car.

Would I be able to have the car written off by the insurance and then I personally buy the car back from the insurance company (ie exactly what they are doing but i would buy the car off tesco rather than a salvage company) or is there procedures in place to stop people doing this? I do not want to lose out on the car as I have spent ages looking for this particular car and I would struggle to find another one the same.

any help greatly appreciated
Chris

Miss_Qwerty

You wouldn't be able to buy the car back off the insurance company after its been written off, no. It would have to be the salvage agents. Also, depending on which catagory of total loss it is, the car may also need to go through a DVLA vic check to get it back on the road after its repaired.

chris980

It's going to be cat c.they are wanting to write it off but they would have allowed me to retain it if I paid for it. Just hope they will let me buy it back as the mechanic i took to see the car proved to me the engine hadn't seized and wouldn't need changed

Rolandtheroadie

My bikes just been written off as a cat c and the independent assessor (who deals with cars and bikes) that came out said I would be able to keep the bike for a percentage of market value. He stated this was normally 10% -25% of the settlement. Bike values at 2500, he recommended a buy back price of £350.
A car would need a VIC test before it goes back on the road (bike doesnt).

chris980

cheers, yea i have been offered that but because it is on finance the finance company have said i am not allowed to do that as they technically own the car until the finance is paid. Going to ring the insurance tomorrow and try and persuade them to sell the car to me, then if I can get it fixed up and re tested I will be over the moon! Fingers crossed as I do not want to lose the car and it doesnt need to be written off!