trade in car involved in crash

LandyAndy

unholyangel wrote: »

I don't see how the trade in value can't be used as the cars value.

Usually you need to muck around getting values of other similar cars because there is no definitive value attached to yours and its not possible to retrospectively get one after its written off (you can get one for similar cars, but not your exact car in the condition it was in prior to the accident).

But in this case, there seems to be a proven market value. Worst case scenario, they can appeal via the financial ombudsman.

Because we have no idea how much overtrade the dealer has put on the trade in. Its realistic market value could be £800, say, with the rest being a sweetener to shift an 'overpriced' car on the forecourt. The insurance company aren't going to pay out the over value.

bertiewhite

I'm assuming it's not part of a scrappage deal?

loskie

AdrianC wrote: »

<nods>

Phone insurance. Explain situation. Agree write-off for £1,100. Phone dealer. Explain that it'll be another £1,100 cash instead of PX.

Job jobbed.

try and haggle more than the 1100 remember you should be reimbursed the retail price of the car: that's what it would cost you to replace.
I paid £1400 for my old Subaru. Was written off and I got 1900 a year after purchase from the 3rd party insurer.

AdrianC

loskie wrote: »

try and haggle more than the 1100 remember you should be reimbursed the retail price of the car

Equally, the insurer are under no obligation to leave you better off than if the claim had not happened.

loskie

they should put you back into the position you were before the incident ie not "betterment". They need not know about the trade in.
A lot depends whether or not the trade in price was realistic or inflated as many are to soften the purchaser and added to the sticker price.