Car Write Off Replacement

moneymuffin

My car has just been written off, Toyata Corolla Verso T3 06 plate. They have offered £4600 for it and Direct Line have also offered to find us a replacement car.

What I am wondering is are we better off taking the money and finding a car ourselves or will Direct Line be more likely to get us better value for money on a replacement?

Just wondering what would you do? Or has anyone had any experience of Direct Line replacement service?

OddballJamie

I didn't even know they did this.

Are you planning on getting the same car or fancy a change, maybe topping up the payout and getting a newer model. Any of those reasons, take the cash.

InsideInsurance

It depends on what they are doing, which I dont know. IE if they are getting 20% discount are they passing that on to you or do they still show you the fact the vehicle was listed at $4,600 but they've actually only paid $3,680 or is it somewhere between the

The only first hand experience was on the new vehicle replacement and that was back in the days that they owned JamJar and a motor dealership but those were divested a long time ago from RBS Group.

If you say you want them to replace the vehicle are you committed to that or can you see what they offer and then chose to go else where with cash? I would strongly suspect you can in which case there is little harm in seeing what they have to offer.

Foxy-Stoat_3

I would take the money and source your own car, would be a lot simpler.

albionrovers

What if they find you a turkey and you accept? Are they then liable? New one to me, must admit.

Hintza

We had an Ifor Williams Horse Trailer written off when hit on the road (3rd part at fault). I was a little miffed when they wouldn't replace it with new, it was 10 - 11 months old.

My thinking was the insurer could buy the trailer wholesale and claim a VAT refund thus costing them just about less than the payout. Whilst I had to re-buy and add £600 cash to put me back in the position I was in before.

OP I think you need to ask them about this, you might just get a better car than re-buying on your own.

InsideInsurance

Hintza wrote: »

My thinking was the insurer could buy the trailer wholesale and claim a VAT refund thus costing them just about less than the payout.

Insurance is VAT exempt (you pay IPT not VAT on insurance) and so they are typically able to recover very little of the VAT.

moneymuffin

Thanks for all the replies. After considering my options think I am going to take the money and run.

I think when it comes to replacing the car will probably add another couple of thousand in to the pot so makes sense just to take a cheque or bacs transfer.

Just got to decide what replacement I want now. I know I don't want another Toyota but after that not so sure. Thinking of looking at a Ford Focus or a Nissan Note or anything else similar I can find. It's hard trying to find the best value possible, I'm not the most decisive person at the best of times but when it's such an expensive purchase makes it even harder.

I'm sure I'll be back for more advice later.