VT and reasonable condition ?

Djene

Hi

In September, once I've paid half the cost of my Vauxhall Corsa I plan on Voluntary Terminating my finance and handing the car back. Only issue is I've heard some horror story's about Finance companies charging insane amounts for 'damage' to the car. My problem is since I got the car, I've been subject to 2 different hit and runs on the rear of my car. Crazy I know. I don't plan on claiming my insurance and loosing my no claims.

The first was on the first day I got the car, and it only had 18 miles on the clock ! Resulting in small scuffs on the side of the rear number. Second I presume someone backed into me, resulting in a dent on the boot and two dents on the rear bumper. Two alloys also have small kerp scuffs on them, but having a car for nearly 3 years that's on low profile tyres, it's bound to happen at some point.

I'm worrying that GMAC may charge me over £1000 for a new bumper and boot lid. Apart from that the car has been well looked after and has no other imperfections. Since VT cars just go to auction and these repairs are rarely followed through, and are purely to recoup losses. Is there anything I can do if I do get a big bill for these repairs ?

Thanks.

motorguy

A damaged car will be worth less than a perfect one at auction, hence the charges.

Heres the industry standard fair wear and tear guide.

http://issuu.com/bfwsn67/docs/fwt_2013_issuu_bmw_group_financial_?mode=embed&viewMode=presentation&layout=http%3A%2F%2Fskin.issuu.com%2Fv%2Flight%2Flayout.xml&backgroundColor=FFFFFF&showFlipBtn=true

It will be MUCH cheaper to get the work done yourself in advance of the car going back.

Djene

A dent on the bodywork is acceptable, but damage from bird poo isn't. The mind boggles haha.

Cheers for the info though.

motorguy

Djene wrote: »

A dent on the bodywork is acceptable, but damage from bird poo isn't. The mind boggles haha.

Cheers for the info though.

Depends on the size of the dent

bigjl

Consider the position of the vehicle owner, GMAC.

You wish to use the T&C of your financs agreement to VT

But not take your part of the agreement into consideration?

A few stones chips on the bonnet and a few minor scuffs to the Alloys may be deemed acceptable.

But accident damage that occured when you had possession needs to be fixed and fixed correctly or GMAC will simply bill you fully for the repairs.

I am no fan of GMAC as they used to be my mortgage company and I hate them with a passion after the way they abandoned their customers to an Asset Management Co, but I find myelf taking their side.

And no not all the VTs go to general auction some go to closed auction and then are retailed by main dealers.

A vehicle with damage to the bootlid and bumper will be worth significantly less than an undamaged one

colino

If it only had 18 miles on it when you got it, you really should price up all of the work to bring it up to pristine condition. Otherwise the finance house are quite entitled to charge you for this considerable damage at retail rates.

Car_54

motorguy wrote: »

Depends on the size of the dent

And the bird.

motorguy

Car_54 wrote: »

And the bird.

LOL. Very good point.