Car wrote off but still on finance not my fault...

Idiophreak

vaio wrote: »

Plus any consequential costs which might include early redemption costs on a finance deal so the method of financing does (or at least might) come into it.

Basically the innocent party should be put back in the position he would have been in had the accident not happened.

I wonder about that, though. Because, in theory, the OP could get another car the same as they've lost and use that as collateral to secure the loan from the finance company - then they could just keep making their payments as usual. Somehow, however, I doubt the finance company would see it this way

vaio

yep, just replacing the car would be ideal and put the OP back in the position etc. and everything carries on as before

But, if the finance company won't play ball then any extra costs like early redemption etc would be consequences of the accident and recoverable from the at fault party.

chanz4

vaio wrote: »

yep, just replacing the car would be ideal and put the OP back in the position etc. and everything carries on as before

But, if the finance company won't play ball then any extra costs like early redemption etc would be consequences of the accident and recoverable from the at fault party.

Market value, finance charges are not besides the op owed from another veichle also

SandC

The new vehicle was £7k and the anticipated offer is around £6k, I expect for a 20 year old the insurance excess is high so really the offer sounds about right to replace the car that was damaged beyond repair.