Car written off whilst saving for a new car

GlobalSquare

Astaroth wrote: »

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

nope i havent ordered it due to not having all the money in place yet.
- i cant withdraw the insurance claim even if i wanted to as it was technically my fault (50/50 imo but the law is the law and i was from behind and basically admitted that on the spot (doh)) so others are envolved)


cheers for all the help all, much appreciated!!!
(just incase anyone else replies i have to log off for a bit now so wont be around to reply )

GlobalSquare

mcjordi wrote: »

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

cheers as that answers an unforseen problem that was looming in distance and has basically resolved all my questions now

JimmyTheWig

GlobalSquare wrote: »

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

If you're not doing the scrappage (as seems to be the case) then I don't see why you would want the car back.

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

Have you got a credit card you can put the difference on? If you're buying from a dealer they should take card, though may well charge you a couple of percent for doing so.
An idea like this would generally be condemned on this site, and rightly so. But if you really can stump up the money in a couple of months then this has got to be the best solution.
If your credit report can take it, and you've got time, then apply for a 0% on purchases card and all it would cost you is the dealer's fee. But even if you are paying something like 17% APR and you borrow £1500 over three months (making various assumptions here) you'd be paying in the region of £30 interest. Then the same again for a 2% fee. So that's £60 it would cost you.
Buying another car for a couple of months will cost you much, much more than this.

Sometimes debt isn't bad.