Car crash when trading car in

Flyboy152

fred7777 wrote: »

The value is whatever you can get a buyer to pay for it and the OP only had one buyer, the dealer.

I understand that a trade in allowance is less than you could get selling privately. I assume, based on experience, that the insurers would try and beat the OP down on the value. So the trade allowance and the insurers valuation would probably be very close.

It looks to me like the OP wants a quick resolution where they are not out of pocket. Presenting the insurance company with a trade in valuation of £600 and a high repair cost (which they already have) should make the insurance company decide to write off quickly.

It's probable that the OP could have got more money selling the car privately before the accident. But now it's damaged it would be difficult to assess what it would have been for that car although a price guide could give a good idea for the model and spec.

MrRedundant's plan may be good but the OP has to weigh up the possibility of getting a bit extra out of the insurers and how much that would be, against the extra delays involved. Worst case: the value of the car the insurers accept is so much higher that they decide to repair rather than write off.

No, the value is how much it costs to replace it.

Quentin

Flyboy152 wrote: »

On a fully comprehensive insurance policy, it will by the OP's insurers who will settle the claim and they will then claim off the other party's insurers.

As liability appears not to be in dispute, then the OP would be better NOT using his own insurer, but dealing direct with the third party insurer over this.

photome

I think the OP is a girl called Karen even tho most keep posting his/him.

Just a minor point

Flyboy152

Quentin wrote: »

As liability appears not to be in dispute, then the OP would be better NOT using his own insurer, but dealing direct with the third party insurer over this.

It makes no difference. This is, as far as the OP's insurers are concerned, a no fault claim (no fault to the OP that is ). For a quick conclusion, the OP is better off claiming from their own insurers, the other party's insurers have an interest in delaying a settlement.

AlexisV

If you need the new car and it is specced as you want it, for the sake of £200 it seems silly to let it go.

Get the £200 back from the insurance / small claims court as and when.

mutley74

have ypu paid a deposit with the dealer? if so will you lose this if you pull out?

birkee

I've gotta ask if the OP should have started buying this replacement car, as his finances seem very marginalised. Too late now though!

cyclonebri1

birkee wrote: »

I've gotta ask if the OP should have started buying this replacement car, as his finances seem very marginalised. Too late now though!

But are you saying she shouldn't?? Unfortunately not all folks can be as mse perfect;);)

birkee

cyclonebri1 wrote: »

But are you saying she shouldn't?? Unfortunately not all folks can be as mse perfect;);)

No.....I'm saying there was no allowance for the unexpected that might happen. No 'get out' clause. Will the OP take out payment protection in case of unemployment or illness? When committed to the hilt, it only takes one hiccup....which happened.

thenudeone

I don't disagree that putting pressure on the garage might yield a better offer, but whatever happens, you have an obligation to mininise your losses

I suggest:
1) get a quote (or better, two) for repairing your car. If it's not economically repairable get that in writing from a bodyshop. keep a receipt if you have to pay.
2) get the dealer to write a letter saying that the damage has reduced the trade in value by £500 (from £600 to £100)

if 1) is less than 2) then arguably you will have to get it repaired and claim this cost from the insurers; then you can go through with the new car purchase.
If 2) is less than 1) then you should go though with the sale and accept the lower trade in value. You should claim the reduction in value from the insurers as you have independent evidence of the reduction and that this was the best possible outcome and you have acted to minimize your losses.