car PCP and bereavement

bris

andy2912 wrote: »

Lexus car insurance are letting my mum drive the car as a named driver whilst the insurance is still live with them until march, but have spoken to best car buyers and awaiting reply off lexus , we told them we can't afford the settlement figure and would rather they just took the car away.. let them absorb any costs

It doesn't work like that though.


They are a creditor of the estate, the executor has to deal with this properly.


If there was anything in the estate the debts need to be paid before the beneficiaries can divide the estate between them.


If the executor hasn't followed the correct procedure then they can become personally liable for this debt.


If there is nothing in the estate then again the executor must tell them this and prove it if asked to do so.


P.s Lexus finance will have a bereavement team, give them a call and they will talk you through what you need to do.

Keep_pedalling

andy2912 wrote: »

Lexus car insurance are letting my mum drive the car as a named driver whilst the insurance is still live with them until march, but have spoken to best car buyers and awaiting reply off lexus , we told them we can't afford the settlement figure and would rather they just took the car away.. let them absorb any costs

Has she taxed it in her own name?

Nearlyold

bris wrote: »

It doesn't work like that though.


They are a creditor of the estate, the executor has to deal with this properly.


If there was anything in the estate the debts need to be paid before the beneficiaries can divide the estate between them.


If the executor hasn't followed the correct procedure then they can become personally liable for this debt.


If there is nothing in the estate then again the executor must tell them this and prove it if asked to do so.


P.s Lexus finance will have a bereavement team, give them a call and they will talk you through what you need to do.

Quite right - if there are sufficient funds in the Estate to do so any shortfall must be paid, if the funds are available to settle all the debts there is no discretion available to the executor to pick and choose which debts to repay

Mutton_Geoff

Keep_pedalling wrote: »

Has she taxed it in her own name?

Only needs to do this if the registered keeper on the V5 is changed.

Keep_pedalling

Mutton_Geoff wrote: »

Only needs to do this if the registered keeper on the V5 is changed.

Yes but that should also be changed according to the DVLA.

https://www.gov.uk/tell-dvla-about-bereavement/keeping-the-vehicle

andy2912

we are looking at getting best car buyer to taking car off of us, been offered £2.5K more than Lexus settlement and they will sort outstanding finance out , but car does need some cosmetic repairs, ie scuffs on bumpers (Lexus quoted 2 new bumpers :shocked: ) scuffs on wheel (again Lexus quoted £500 for new alloy!) and little dent on front wing.

I have emailed Lexus finance saying that there is not enough in the estate to pay settlement.

Those quotes where from a Lexus approved body shop. Surely must be cheaper to be done.
Anyway from Best Car Buyers websites FAQs

You do not need to transfer the vehicle into your name, this would cause a delay waiting for the V5 to be returned from the DVLA. Adding an extra owner would reduce the vehicles value too. Best Car Buyer will however, require proof that you are authorised to sell the vehicle in question. This could be a legal letter proving that you are either the executor of the will or the next of kin.

Sea_Shell

andy2912 wrote: »

I have emailed Lexus finance saying that there is not enough in the estate to pay settlement.

Is this true...Is the estate actually insolvent? Are there any other debts?

Is anyone administering the estate? As the usual advice is for no one to administer an insolvent estate.

There is term called "intermeddling" which will make the executor/administrator liable for any errors in handling the estate if they have started, but not followed correct procedure.

andy2912

No not insolvent but not enough to pay all of the cost to lexus, and as said before my mum does not like the car. No need for probate as no property involved.
My mum and dad were divorced, and my mum was carer for my dad in later years.

DrEskimo

andy2912 wrote: »

we are looking at getting best car buyer to taking car off of us, been offered £2.5K more than Lexus settlement and they will sort outstanding finance out , but car does need some cosmetic repairs, ie scuffs on bumpers (Lexus quoted 2 new bumpers :shocked: ) scuffs on wheel (again Lexus quoted £500 for new alloy!) and little dent on front wing.

I have emailed Lexus finance saying that there is not enough in the estate to pay settlement.

These statements don't match. If you've been offered £2.5k more than the settlement, how can you be struggling to pay the settlement?

Just take the £2,500 in positive equity and pay for the repairs, or ask what best car buyer will offer for the car with the damage there. If it's less than £2,500 then just give it to them as is.

daveyjp

Why complicate matters? The situation has been explained.

The car belongs to the estate, if there is no money to pay the balance its a headache for the finance company.

I certainly wouldn't be driving it. Park it up until the affairs are settled.

This happened to a friend. Audi took the car and stored it in their dealership until she had the estate matters settled.