Thread: VT a damaged car

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As far as im aware, a car has to be in 'reasonable condition for its age' with an valid MOT. Most companies will insist on 12 months MOT and a FULL service history. to ensure teh car has been looked after.

Allso, it appears you want to hand a written off car back to somone because you cant use it anymore because the insurance wont fix it.

Would you have wanted to Vt the car if it was still ok and running??

just a thought

Originally Posted by Debtspiral

I want to VT the car because Welcome are charging 45% interest on it!
I would be willing to pay for the difference in value due to the write off.
Is this legal though?
Can I hand back a damaged car and just say 'bill me'?

If you have paid over 1/3 of the agreement ( yes including the interest) then you can Voluntary Surrender the car back to the finance comapny, but given the condition of the car and its location it would end up costing YOU more money to collect it and sell it.

I dont know any company that would take back a damaged car.
In my expierience, they will just hold you liable for the balance on the account.

If there is no assest ( ie no car) then all you can do is make an offer of payment to them, based on your current financial situation ( Income and expenditure).

If you are in financial troubles, you can alwas go an see somone like the CAB or CCCS etc to help you put together a payment plan.

I doubt that any company will take back a damaged car as a VT.

You can Voluntary Surrender the car back to the finance comapny, you will be liable for any repairs. You have stated that you car is a right off but your insurance does not cover this, why???

In your agreement with the Finance Company you will find that it is your responsabiltiy to insure your vehicle for such an eventuality.

I have dealt with Welcome Finance and as your finance is secured on the car, Welcome are probably re-finance the outstanding debt into a personal loan, I would also suggest you open lines of communication with Welcome Finance, but insist all correspondence in writing, then all you can do is make an offer of payment to them, based on your current financial situation ( Income and expenditure).

I realize the incident was in Germany but before responding please explain why your not covered by insurance

I should have that checked via the MIB because it may be that Germany is no longer 'abroad' for insurance purposes no matter what the cover

My understanding is that all UK car insurance has to provide the legally required minimum insurance in all countries of the EU.

It would also be a very, very unusual lease?HP agreement that allowed the client to use anything other than fully comprehensive insurance. IOW, the OP may be already be in significant breach of the agreement by only having TPF&T

That's also my thinking. re insurance The OP needs to check (& I'm assuming fully comp)

The only way the OP may not have breached the agreement is if it's either secured or the finance is not in fact HP but a personal loan in which case all risk would be the OP's as they would be the owner from the outset

Hi,

Sounds to me like OP posssibly had Comprehensive cover in the UK, took the car to Germany without buying Continental cover, in which case cover in Germany would be Third Party Only cover (Or German equivalent).

Many insurance policies issued in the UK still do not offer Continental cover. There is still a requirement to buy extra cover (The old 'Green Card' cover - although there is now no need to actually have a 'Green card' in EU countries).

H