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Hi i was rearened and they wrote my car off because of its age (L) plate, the thing is i was behind with the payments and i still owe £600 will they do an hpi check if i sell it to a car breakers for spares? greeneyes.
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Depending on the exact nature of your finance on the car, it may not be yours to sell! Tread very carefully here!
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if you dont pay off the debt then the finance company will come knocking,it may take a year but they will add on any interest owed.
Any decent end of life centre now has electronic transfer to swansea so when the finance company checks the location of the vehicle then the records will show that you weighed it in.I take it you werent insured for the queens highway then?
--
\"a little man in a big world/\"
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Hi there yes i was insured, but i fell behind with the hp now i begrudge paying the outstanding £600 just so i can scrap it, so I guess i'll just break it myself untill theres nothing left of value and then dispose of the shell.
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I think the point here is that if you are insured, ins company will pay out to you but they then take ownership of the car from you so its not yours to break, unless you have struck a deal with the ins co?
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I had a similar incident in a car. It was insured TPFT but the other party's insurers paid out.
The payout was £600 and the salvege value was nil. Being TPFT for some reason salvage was my responsibility. I made an extra £125 for spares, including £45 for the rest of the car from a garage owner.
If you can, try to negotiate a similar deal with the insurers.
However, I would advise you NOT to welch from paying the outstanding finance on it, for 2 reasons.
1) Put yourself in the position of the HP company. You lend some money to someone on the condition that they make so many payments back, but they decide that because of an occurence completely unrelated to you they do not want to make the last few payments - so you have to suffer the loss. To put it another way, one assumes you work? How would you feel if your boss refused to pay you at the end of the month because of something that happened in his business that was completely out of your control?
2) As has been mentioned, the finance company will catch up with you. Only by being diligant with defaulters (which would describe you to a tee), can they remain competitive. You will then have a torpedoed credit history, and no sympathy from me or a number of others when you cannot get a mortgage or loan without paying sky high rates reflecting the real risk that you are.
Sorry if this sounds a little self righteous, but I work in home improvements. If a client decided not to pay me for tiling his kitchen on the basis that he had set it on fire just after I'd done a first class job, I would go out of my way to make his life hell, until I got my money.
H
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greeneyes, I'd second Hugo's advice. I have been there with a bad credit rating (lost my income for a while, couldn't pay my debts) , and it's really not somewhere you want to go if you can possibly avoid it. You'd be amazed how many things in life get difficult if credit your rating is bad, and it can take years to restore it.
Do think too about Hugo's first point. How would you feel if someone didn't pay a debt owed to you?
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Hi - if you have a normal comprehensive policy two things will happen.Firstly the insurance company will pay the finance company direct and if there is a shortfall the finance ompany will contact you for it.Secondly the insurance company will own the car as part of the sttlement so don't start selling it to a cr breaker without the insurance company agreeing to this.
HTH
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Shame to face potential criminal charges when wasn't your fault.
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