PCP Shortfall

danwoodward

In all seriousness, this situation has been bad enough.

Iv come here for financial advice nothing more.

Id appreciate it if people stopped making me feel worse by telling me about how irresponsible my driving was and stuck to my original question.

AdrianC

danwoodward wrote: »

The accident wasn't necessarily my fault (guy in front slammed on in front of me on a motorway)

If you'd left a sufficient gap, you wouldn't have hit him. Why did he suddenly brake? Because of something happening in front? He managed to stop without hitting anything...

however insurance company told me that by law because I had gone into the back of a vehicle I had to accept responsibility.

Cobblers. There is no such law. But, in this case, it IS your fault...

Has anyone been in this situation before? Did they manage to get the finance company to wipe some of the debt?

Why would they?

You owe £6,300 on the contract you freely signed. You no longer have the car, so you cannot hand it back. You still owe £6,300. The fact that the car was only worth £5,500 at the time you wrote it off is irrelevant. You owe £6.300.

That's what gap insurance is for.

I was well with in breaking distance - however the roads were not in the best conditions and mistakes happen.

So, no, you weren't able to stop in the conditions prevailing at the time. Braking distance varies according to the conditions. If the conditions are poor, you leave a bigger gap.

In all seriousness, this situation has been bad enough.

Iv come here for financial advice nothing more.

You've had it. You owe £6,300. Your insurance payout does not cover it fully, so you owe the difference.

Id appreciate it if people stopped making me feel worse by telling me about how irresponsible my driving was and stuck to my original question.

You may not like being told this, but you won't learn from this unless you accept that you were at fault. It wasn't the law saying you were. It wasn't the other driver's fault for braking too hard. It was your fault for not having a big enough gap to be able to stop - and, quite possibly - not looking far enough forward, else you may well have had more warning of the situation the other driver was reacting to. And if you don't learn, you'll be back in the same position again. At least this time nobody was injured or worse.

danwoodward

No I actually fully accept the accident was my fault.

Im not here for driving advice.

AdrianC

danwoodward wrote: »

No I actually fully accept the accident was my fault.

You'll understand our confusion, then...

danwoodward wrote: »

Hi,

I recently was involved in a car accident and my car was written off. The accident wasn't necessarily my fault (guy in front slammed on in front of me on a motorway) however insurance company told me that by law because I had gone into the back of a vehicle I had to accept responsibility.

Now, do you not think that your own error causing your vehicle to be written off gives your lender even less incentive to forgive a sizable chunk of your debt to them?

danwoodward

I take it you dont have a life.

To make someone feel awful.

You know in life there are things you dont want to accept but deep down you know you have to.

I realize my post may not make the best of sense The whole situation feels like a massive blur and nothing really makes much sense to me about it all. I came on the Money Saving Expert in the hope of finding advice about financials. Nothing more. I clearly came to the wrong place.

AdrianC

danwoodward wrote: »

I came on the Money Saving Expert in the hope of finding advice about financials. Nothing more. I clearly came to the wrong place.

Why? You've had the answer you asked for.

You owe the money.

It might not be the answer you hoped for, but that's life.

danwoodward

Anyway thanks everyone for your advice. I have rang this morning I managed to get the debt wiped but have pay a £250 charge which is a lot more affordable.

Thanks

Tothepoint.

danwoodward wrote: »

No I actually fully accept the accident was my fault.

Im not here for driving advice.

Well here's some financial advice.

Don't crash because it'll cost you money.

Nasqueron

Worth getting a dash cam for the future - for £50 or so, if it was a dangerous and random brake (e.g. if road ahead was clear, no-one moved into lane etc) then it could save your bills!

dannyrst

Nasqueron wrote: »

Worth getting a dash cam for the future - for £50 or so, if it was a dangerous and random brake (e.g. if road ahead was clear, no-one moved into lane etc) then it could save your bills!

Or just leave a safe gap, that way it doesn't matter if someone brakes sharply because you can stop in time. And it doesn't cost £50 to do that.