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right so the deal is some old biddy didn't see me today how i don't know i'm big enough but anyway ran into me and pretty much killed my car although drivable there is some substantial damage to drivers side and all my air bags went off quoted £1000 for body work alone nevermind air bags with insurance companies writing off cars willy nilly i don't hold much hope for them repairing mine which is pretty heart breaking for me i paid half when bought 2 years ago and the rest was on finance now i know the insurance will pay my finance but what about all the early repayment fees?!? for what i have left to pay on finance plus fees i'm litrally going to have nothing and i can't be without a car for uni, work and other commitments. the accident wasn't my fault and other party took full liability is there any way around the early repayment fees i'd rather carry on paying the monthly payments and just recieve the full payment from the insurance company but no idea if they'll let me (its with black horse) any info on all this would be appreciated i'm only a student and didn't expect to be bumped on my way to uni this morning and havn't got money to be splashin out thanks to someone elses mistake, thanks in advance
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We don't like to be too pedantic on this forum, but If you want help and advice you do need to make what you write more reader-friendly. If you got into university writing like that with no paragraphs and hardly any punctuation, I can only assume you're studying Irish literature with James Joyce as your special subject.
Your best bet is first to find out what the insurance company will pay for as soon as you can: will it be a write-off or not? Meanwhile do the sums regarding early repayment fees versus carrying on paying the instalments.
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Hi nat,
Your lack of punctuation is remarkable ,your first attempt is on line 5,are you studying English by any chance ?
Anyway leaving the punctuation aside . You need to check your finance agreement to find whether your agreement is a personal loan or hire purchase .
Conventional hire purchase has not been used by car finance companies for quite a while now ,so it's more likely you have a personal loan.
The difference is, that if it's hire purchase you must settle the outstanding finance if your car is written off .The insurance company that's paying for your car will pay the outstanding balance direct to black horse finance .if their is a residual balance that would be paid to you.
If you have a personal loan ,you're not legally obliged to settle the loan if your car is written off ,of course you must keep paying the outstanding loan.
One final point ,if you need additional finance to buy a replacement car ,you could find it difficult to get another loan ,before the black horse account is paid off.
Good luck
Tony g
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Hi,Cheers for the advice I will have to check the agreement from what you've said I'm hoping that it's just a personal loan as I would much rather continue to pay the installments. Spoke to the repair service today and from the damage I've described it's 95% sure to be written off, hence I could do with the full money from the insurance to purchase another car with and just continue with installments.
As for English and punctuation, I'm perfectly capable of speaking and writing ...but choose not to over the internet. I was in a pretty big mood when writing the first post as I have looked after that car as if it was my baby, I graft my backside off to get where I am and do what I do, so can't particularly say my style of writing was maintaining a high position in my priority list. Didn't fail a single gcse thanks, came out of college with highest possible marks in a level 3 national diploma and studying sports therapy at uni with the intention of carrying on to a masters.
Anyway.... hopefully get my courtesy car on monday and then see what the insurance company say from there.
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Good luck! I'd no wish to be fussy: my interest as moderator is simply to ensure you get any help and advice that's going. Tony, bless him, has looked at it and given you some very sound advice.
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(I was in a pretty big mood when writing the first post )
Hi nat,no offense intended by myself and im sure by other members of the forum.
It just struck me when I read your reply ,how b***** old I'm getting ,you young guys speak a different language ,perhaps a more descriptive and colourful one.
Forums like this always need new and different inputs ,so please let the forum know the outcome of your post .
Regards
Tony g
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Well turns out my finance was a hire purchase loan so obviously have to pay it off first luckily I'm only having to pay £90 penalties which isn't as bad as I expected. My car was written off as a Cat C with £4500 worth of damage.
They've only gave me lowest book price so its not even enough to go buy another of what I had so looking into legal advice of why should I stump up more money (that I don't have!!) to go replace my car or downgrade when the accident wasn't my fault in the first place.
The whole thing has rather annoyed me to be honest, can I object to the money they've sent via cheque? Someone mentioned if I find similar cars to mine with a higher value they could change price, any ideas if this is ever successful?
Thanks
Edited by natlee93 on 18/02/2012 at 21:01
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Hi nat,
Don't cash the cheque,
You're entitled to the full retail value of your car ,that's usually determined by glasses guide ,retail price ,not bottom book or trade price .
Not all insurance companies want to work using the glasses guide as a retail price ,so you need to check the retail selling price of cars, which are the same as yours on autotrader ,
You must haggle with the insurance company ,don't accept their first offer .do provide evidence to them of the retail value of your car before it was written off .
In addition ask your finance company if they will provide a personal loan to help you buy another car .
Good luck and if you need more help please contact the forum.
Regards
Tony g
Edited by tony g on 19/02/2012 at 01:50
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As Tony says, cashing the cheque is seen as acceptance of the offer. Indeed, it would not surprise me if this was not laid out in black and white in the policy small print.
Insurance is meant to cover the 'value' of the car and to put you in the position you were in just before the loss.
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