Car written off whilst saving for a new car

GlobalSquare

The long story made short is -

- My car is being written off as its not cost effective to repair
- Ive not recieved a settlement offer yet (expected imently)
- Ive been saving for a new electric car as on average i drive maybe 50 miles a week at a push
- It would have only been a few more months for me to get the rest of the money together to be able to buy a new electric car (MOT doesnt expire until april)
- To me and dealers my car is worth £2k+ with the scrapage allowence

the problems
- I will have to get another car now and i believe the rules are you have to own the car for X ammount of time to be able to use the scrapage scheme (i will double check that unless someone knows off hand)
- My car was insured at £1200 but from reading and searching here that doesnt seem to matter
- according to 'What Car' im looking at getting
Dealer £1,250 Private £950 Part exchange £800 Trade £750 Cost new


I understand that asking for £2k+ off the insurance companies isnt going to go down well at all (i can hear them laughing at that thought already)



So are they any knowledgeable people out there that can make a suggestion at where i stand? and what i should be doing? as i am up the creek with out a canoe let alone a paddle

mattymoo

When you say it is not cost effective to repair, is it the cost of parts driving the cost up?

For instance, if you needed a new bonnet and bumper, the cost of the bumper would be £5-600 and bonnet around the same. Clearly uneconomic due to the value of the vehicle.

Could you source those parts at a vehicle dismantler (posh name for scrap yard these days) and have a small, local garage fix them for you. Vehicle would then be worth the £2k trade in again.

To the insurer - you need to explain that you wish to retain the vehicle and arrange repairs yourself. They should give you the vehicle value less what the salvage was worth to them. some insurers are more agreeable to this than others though and most will refuse if the vehicle is damaged beyond repair. Yours just sounds like an uneconomic repair though.

GlobalSquare

cheers for the super quick reply your a star!

the damage is quite bad (bonnet , bumper, wings, radiator, slam panels etc ... probably talking close to the cost of the vehicle to fix even in a back yard garage) - but after they take off the excess, buying it back, the work etc it will leave a hefty dent in my savings and mean not getting the new car for a lot longer

Im going to have to accept an offer they make basically so i really after a what should i be researching/looking into apart from parkers, whatcar and glass as i will be losing around £1450+ accepting a non scrapage scheme offer plus having to buy another car in the mean time etc

lisyloo

You insurance policy covers you to put you back into the posistion if you had the car.
They are not responsible for covering "consequential loss".
So, I am pretty sure you are not covered for your scrappage losses.

glider3560

Have you check that your old car is still eligible for the scrappage allowance - can't see anything in the rules that would exclude it: http://www.direct.gov.uk/en/Motoring/BuyingAndSellingAVehicle/AdviceOnBuyingAndSellingAVehicle/DG_177693

That way, you would get the £2000 off your new vehicle and would avoid any excess on the insurance policy.

GlobalSquare

i guess the term/words 'consequential loss' sum's up the answer i was looking for (but not wanting to hear :cool:) .... sounds like i just have to take the loss on the chin

(i didnt think i would be covered for the scrapage loss but figured better to ask than not and no better place to ask this)

cheers you two! (and those that read but didnt know the answer)

GlobalSquare

will have a look now glider - but a preemptive thanks!

glider3560 wrote: »

Have you check that your old car is still eligible for the scrappage allowance - can't see anything in the rules that would exclude it: http://www.direct.gov.uk/en/Motoring/BuyingAndSellingAVehicle/AdviceOnBuyingAndSellingAVehicle/DG_177693

That way, you would get the £2000 off your new vehicle and would avoid any excess on the insurance policy.

cheers it will still be eligable according to all the points listed!
I was trying to stay away from loans with the hope of getting the cash together but i guess a loan is preferable to the waiting a year after having brought another car

JimmyTheWig

As I understand it, half the scrappage discount comes from the government and half from the dealer.
So I would imagine that you would be able to haggle £1000 off the list price if you don't use the scrappage scheme. In which case you're only £1k down, and that's what you need to hope for from the insurance. From the figures you have given, with a bit of luck you might get close to this from them.

But, as has been said, if you can keep your old car (either repairing it or not) then that is probably the best thing.

Is there a chance that you could borrow the last two months' money and buy the new car now? Would be much cheaper than buying a car and selling it again so quickly.

Astaroth

Have you placed the order for the car? If you havent then the issue on the bullets will be the fact the vehicle must currently have insurance on it. Even if you withdraw the claim the insurers may still insist on declaring the vehicle a total loss and thus remove the insurance from it. If you have already ordered the new car then cannot see any problems from the list on the direct gov website

GlobalSquare

cheers Jimmy! the haggle idea would work!! but after buying the car back and the excess im going to be left with less than £500 as a rough estimate

borrowing the last bit needed off family and friends isnt going to be to workable as its a fairly large ammount (+the other £500)

and unfortunatly i have to go through the insurance process due to the accident being technically my fault

cheers for the suggestions it is truely appreciated!

I think im just going to have to take the hit in the pocket or put the leccy car on hold

Thanks all!

mcjordi

insurance write offs a not eligible for scrappage
was told this by dealers i went to with my BIL who has a cat c repaired car that was 10years or older