Unable to afford end of lease mileage and charges

Grumpy_chap

Levatorani123 said:

I have just logged into my policy online. Nowhere on the motor policy schedule or any of the vehicle information does it mention r the value.. but it mentions every single other aspect  of the vehicle I typed in.

Does it state somewhere, perhaps even in the standard "glossy" documents that the value is "market value"?

Flugelhorn

Herzlos said:

The value is sort of meaningless; they will base any claim on the market value at the time of the accident, including any pre-existing mileage and damage. So unless it's a specialist insurance with a pre approved value for something like a classic car, it's not going to matter much.

glad you said that - I never have a clue what to put and tend to put some shot in  the dark figure - how much research should you do? If I have only had the car a few years then I tend to put the same as I paid for it - I presume that if it was a right off they would value it, as you say, at the time of the accident

cw8825

Flugelhorn said:

Herzlos said:

The value is sort of meaningless; they will base any claim on the market value at the time of the accident, including any pre-existing mileage and damage. So unless it's a specialist insurance with a pre approved value for something like a classic car, it's not going to matter much.

glad you said that - I never have a clue what to put and tend to put some shot in  the dark figure - how much research should you do? If I have only had the car a few years then I tend to put the same as I paid for it - I presume that if it was a right off they would value it, as you say, at the time of the accident

no research is needed. the market value is set at the time of claim. could be more then the value you put down could be less

facade

molerat said:

noitsnotme said:

maxmycardagain said:

Wheel TRIMS on a Tesla?.......lol

The Aero wheel covers improve efficiency.  They're butt ugly on the M3 though!  I believe the Gemini wheel covers on the Model Y also improve efficiency and are far nicer looking.

Well, you certainly need something to help make a Tesla look nice 🤢

A front grille makes a huge improvement. You can buy various stickers and add on grilles.

Herzlos

Flugelhorn said:

Herzlos said:

The value is sort of meaningless; they will base any claim on the market value at the time of the accident, including any pre-existing mileage and damage. So unless it's a specialist insurance with a pre approved value for something like a classic car, it's not going to matter much.

glad you said that - I never have a clue what to put and tend to put some shot in  the dark figure - how much research should you do? If I have only had the car a few years then I tend to put the same as I paid for it - I presume that if it was a right off they would value it, as you say, at the time of the accident

The last few times I've run quotes (including yesterday on confused.com) it's suggested a value that's been in the right ball park, so I've just stuck with what they've suggested.

The layman can't really be expected to track their own cars value very closely, because even if they are planning on selling it, it'll be at trade/private costs and not retail which is what the replacement would be. I.e. if I traded my car in today I'd get £11k for it, but if I had to go and buy a like-for-like replacement it'd cost me £14k.

Levatorani123

So Im still not clear as to whether me stating the cars value as 3600 is considered problematic in  the event of a claim. It was on  either Go Compare or CTM, not the actual insurer page.

XRS200

Levatorani123 said:

So Im still not clear as to whether me stating the cars value as 3600 is considered problematic in  the event of a claim. It was on  either Go Compare or CTM, not the actual insurer page.

It could be.  It wasn't just a typo.  The insurer might have a record of both quotes, and you chose the cheapest.

born_again

Levatorani123 said:

So Im still not clear as to whether me stating the cars value as 3600 is considered problematic in  the event of a claim. It was on  either Go Compare or CTM, not the actual insurer page.

6 pages in & 6 days later.
Have you actually spoken the the lease co over your problems?

Levatorani123

born_again said:

Levatorani123 said:

So Im still not clear as to whether me stating the cars value as 3600 is considered problematic in  the event of a claim. It was on  either Go Compare or CTM, not the actual insurer page.

6 pages in & 6 days later.
Have you actually spoken the the lease co over your problems?

I spoke to them  6 months ago but not since.

I tried to contact them yesterday but couldnt so Ill try again today.

Levatorani123

The company have said to send in a picture of the damage  so they can estimate its cost.

They have also said they may be able to give me an amnesty on some of the mileage with evidence from my PIP claim and will do their best with minimising cost when it goes to the creditors. 

Ill post in the debt forum if needed in January when  I know how much it is.

Thanks Guys.