help needed

tigga_1961

hi just looking for some advice for a friend of mine they bought a new car on finance in sept 2010 and some scumbag stole it just before xmas to date the car hasnt been found, the cars value was 8k but finance company want whole amount incl charges totalling 11k, my friend didnt have any gap insurance, and finance company are threatening court action for the whole amount can anyone offer any advise on what to do next thanksx

lad81

I personally would do as much homework as possible as to the cars "true" value, look for same spec cars on Autotrader etc etc and go back to the insurance company if you think the value should be more than the 8k they are offering.

Regardless of what happens though, the shortfall will have to be met by your friend, no way out of that i'm afraid.

somethingcorporate

Indeed, this is one of the reasons GAP insurance exists.

tigga_1961

thanks for the replies it transpires my friend forgot to tell me she had left the keys in the car while defrosting it, so now she has no leg to stand on so to speak ;-(

Gene_Hunt_2

tigga_1961 wrote: »

thanks for the replies it transpires my friend forgot to tell me she had left the keys in the car while defrosting it, so now she has no leg to stand on so to speak ;-(

Ouch, so she needs to find 11k if it's not found as the insurance will not pay out.

tigga_1961

yep thats the gist of it 11k to find god knows how she gonna find it and finance says they will take her to court for it :eek:

Gene_Hunt_2

What sort of car is it?

forgotmyname

Are the insurance refusing to payout? Who contacted the finance company?

Could be one very expensive lesson im afraid.

hartcjhart

tigga_1961 wrote: »

yep thats the gist of it 11k to find god knows how she gonna find it and finance says they will take her to court for it :eek:

she should speak to the finance company and come to a payment arrangement

tigga_1961

hi it was a new vauxhall corsa not sure of specs but guess her only option is to pay it, my friend told the finance company as she is useless dealing with this stuff and honest as the day is long, def a lesson learnt me feels