PCP purchase/car written off question

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Sun 15 Jul 2007 21:07
PCP purchase/car written off question - Dirk
Hi there

My parents have bought a car on PCP, I know contract details vary, but I'm looking for some general opinions

They had someone else as a named driver on their insurnace, who crashed the vehicle. There is some debate at the moment, as to whether the car will be written off or repaired.

Should they choose to return the car to the dealer at the end of the term, obviously if its repaired, this is fairly straightforward, as they will make a judgment on the condition of the vehicle and the mileage

But if the vehicle is written off, and replace with something of equivalent value, how does this affect being returned to the dealership at the end of the deal?

Are they only interested in the age and condition of the replacement and hence its value? does the car have to be identical age and model?

Thanks for any thoughts on this
Nick
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Sun 15 Jul 2007 21:15
PCP purchase/car written off question - adverse camber
I think you will find that they will have to end the PCP contract. Check the contract for details - it will be covered. The insurance payout would have to go to the PCP company.
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Sun 15 Jul 2007 21:25
PCP purchase/car written off question - Altea Ego
Did they have Gap insurance?
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TourVanMan TM < Ex RF >
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Sun 15 Jul 2007 21:38
PCP purchase/car written off question - daveyjp
One of the clauses in the agreement will be to inform the finance company if the vehicle is involved in an accident. Remember the car still belongs to them.
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Mon 16 Jul 2007 12:18
PCP purchase/car written off question - Dirk
I'm not sure if they took out gap insurance

I guess if its early on in the deal, then the settlement figure may well be more than the value of the vehicle

As it is, I think they are approaching the end of the finance agreement
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