Bought a car for too much then it was stolen!

AdrianC

dacouch wrote: »

You're in luck.

As you recently purchased the car, your Insurer should pay you the amount you paid unless they can prove that the value you paid was incorrect.

Because, of course, there's absolutely zero scope for fraud there, is there...?

worried_jim

I thought the schools had gone back.

consumers_revenge

we still want the make model and year OP

marlot

SingerN wrote: »

...My insurance company have said that the trade value of the car is only £600 ...

You need to point out that the insurance company should be offering you retail price.

If you search the ombudsman site, I believe they should reimburse the price you paid, unless that price was outrageous [insurance fraud].

Nothing to do with the dealer you bought from. Unless they're the ones who nicked it, of course.

Sam_Fallow

SingerN wrote: »

Hi everyone


... I picked it up on Tuesday evening.


On Tuesday, I drove the car to the park and ride for work and left it there during the day. The car was then stolen.

So it was stolen before you collected it which means you bought a stolen car. I'd report this.

consumers_revenge

consumers_revenge wrote: »

we still want the make model and year OP

Cmon let us know what it is?


( unless you haven't bought it yet and are checking how the scenario might work out??? )

silverwhistle

SingerN wrote: »

Even when I sent them screen shots of similar cars from Auto Trader showing a price of £650, they still said they paid fairly.

So why did you buy one for over twice the price if you'd seen them cheaper on Autotrader?

ffacoffipawb

consumers_revenge wrote: »

Cmon let us know what it is?


( unless you haven't bought it yet and are checking how the scenario might work out??? )

I suspect it's a Yaris ... 😄😄

waamo

I wonder if the OP will ever return? It's amazing how many people who ask strange questions never seem to come back.

dacouch

AdrianC wrote: »

Because, of course, there's absolutely zero scope for fraud there, is there...?

That's how the Ombudsman specifically state the Insurer should handle the valuation of a written off vehicle.

They have left in protection for the Insurer against fraud by waiving the requirement if the Insurer can provide proof the purchase price was incorrect.

It's a sensible way of handling the valuation of recently purchased vehicles