I'm going to be upside down by 3-4k. Any advice appreciated.

[Mattmaxx]

Car drove into the back of me on wednesday at 25 mph. Liability admitted by other driver. My car cost 13k and only 2 months old. 9.5k damage so it will be a write off. I've checked glass's and think i will be lucky to get 10k based on valuation. I don't have gap insurance. Am i basically screwed or is there anything i can do here. I realise i did not cover myself but its just so unfair. Both drivers covered by the same insurance co. They called on wednesday and offered me £750 compo there and then for whiplash and although did not give any further figures mentioned that they would also give a settlement figure for my 1 year old daughter and father in law who was also in the car. Would it make sense for me to try and counter offer for the outstanding amount of finance 12.8k to include compo or should i fight for more compo through a third party? I basically dont have 3-4k sitting about to pay the finance off now so a protracted negotiation is not in my best interest. Any guideance or tips would be much appreciated as this is my first and hopefully last accident.

[dw190]

Car drove into the back of me on wednesday at 25 mph. Liability admitted by other driver. My car cost 13k and only 2 months old. 9.5k damage so it will be a write off. I've checked glass's and think i will be lucky to get 10k based on valuation. I don't have gap insurance. Am i basically screwed or is there anything i can do here. I realise i did not cover myself but its just so unfair. Both drivers covered by the same insurance co. They called on wednesday and offered me £750 compo there and then for whiplash and although did not give any further figures mentioned that they would also give a settlement figure for my 1 year old daughter and father in law who was also in the car. Would it make sense for me to try and counter offer for the outstanding amount of finance 12.8k to include compo or should i fight for more compo through a third party? I basically dont have 3-4k sitting about to pay the finance off now so a protracted negotiation is not in my best interest. Any guideance or tips would be much appreciated as this is my first and hopefully last accident.

 

Your insurer will want to know the finance co. if the vehicle is on HP and will probably make payment direct to them to clear the HP.

 

Offering £750 straght away for whiplash is a way of trying to close the matter without you getting a solicitor. If you have suffered any injury you should not accept anything straight away as you may get other symptons later.

 

Dont do anything rash and dont go to claims advisors. Any decent solicitor will take it on No Win No Fee and No cost to you.

[Mattmaxx]

Your insurer will want to know the finance co. if the vehicle is on HP and will probably make payment direct to them to clear the HP.

 

Offering £750 straght away for whiplash is a way of trying to close the matter without you getting a solicitor. If you have suffered any injury you should not accept anything straight away as you may get other symptons later.

 

Dont do anything rash and dont go to claims advisors. Any decent solicitor will take it on No Win No Fee and No cost to you.

 

What makes you think they will clear the HP? I would love that but my understanding was that they only give you current market value which would have dropped like a bomb once i drove it off the forecort.

[dw190]

What makes you think they will clear the HP? I would love that but my understanding was that they only give you current market value which would have dropped like a bomb once i drove it off the forecort.

 

You say your car was only two months old. Was it brand new two months ago? Most Comprehensive policies provide for a replacement like for like model on vehicles with over 50% damage to value.

[Mattmaxx]

You say your car was only two months old. Was it brand new two months ago? Most Comprehensive policies provide for a replacement like for like model on vehicles with over 50% damage to value.

 

Yes it was brand end of july, 12 plate. I checked the policy documentation and although I'm fully comp don't see anything other than that I receive market value pre crash price.

[crem]

My understanding that a written off car which was less than 12 months old should be replaced like for like, ie New.

[Mattmaxx]

Thanks guys. Think I will give my dealer and insurance co a call tomorrow to clarify.

[Mattmaxx]

Thanks guys. Think I will give my dealer and insurance co a call tomorrow to clarify.

 

Apparently all I get is glass's guide price, not a new motor.

[Andrew-P]

I know that the price of a car varies hugely e.g. I recently bought a new fiesta at 21% discound from a main dealer.

 

If I was in your position I would be asking the dealer for a quote on a similar nearly new model to see what price they offered and checking the prices of nearly new cars at supermarkets such as Motorpoint - not ideal but pragmatic.

 

This will potentially give you something extra to challenge you insurers with and also let you know what is in budget if you get no more.

[Ganymede]

Offering £750 straght away for whiplash is a way of trying to close the matter without you getting a solicitor. If you have suffered any injury you should not accept anything straight away as you may get other symptons later.

 

 

Agreed. Find a solicitor to use as the insurer is trying to buy your claims off on the cheap. Do not accept the offers.

[Mattmaxx]

I know that the price of a car varies hugely e.g. I recently bought a new fiesta at 21% discound from a main dealer.

 

If I was in your position I would be asking the dealer for a quote on a similar nearly new model to see what price they offered and checking the prices of nearly new cars at supermarkets such as Motorpoint - not ideal but pragmatic.

 

This will potentially give you something extra to challenge you insurers with and also let you know what is in budget if you get no more.

 

Thanks Andrew. I'm having trouble finding a nearly new same year (12) with the same spec though. A (61) plate with 11k miles is selling for 9k so hopefully that puts me in the 10k bracket but i'm not holding my breath and that would still be nearly 3k short on my finance.

[Mattmaxx]

We have settled with the insurance company for 11.5k which is 1.5k above Glass's guide top line. About 1.5k short of my finance but lesson learned and gap insurance already purchased for next car.