My cars recovered, what next.
20 November 2003, 05:22 PM
#1
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It was stolen from my house, 3 weeks ago after the thieving c**nts broke in for the keys. It’s being taken to a local Scooby dealer and the Norwich are sending out their assessor. I don’t really want the car back and my girlfriend would hit the roof, then me if I had to take it back to our house. I’m not sure what states it’s in mechanically, it’s had a small bumps at both the front and back end and all the wheels are damaged, not sure what extent. The little f**kers had even had one of the front tyres changed so they could continue thrashing it. It's going to need new wheels, some body work, new key set, alarm system at the very least. I’ve not seen the car yet so I’m not exactly sure what condition it’s in. Any advice as to how I can get it written off would be very welcome. It’s a MY97 UK 85K.
If it isn't written off, I've got to get rid, what the process for selling a vechile with oustanding finance.
Any helpers, please.
Cheers,
Leigh
If it isn't written off, I've got to get rid, what the process for selling a vechile with oustanding finance.
Any helpers, please.
Cheers,
Leigh
20 November 2003, 05:30 PM
#2
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Persuade your dealer to persuade your insurance to write it off, thats what I done. If not, youll just have to bite the bullet. Its very hard to sell a car with outstanding finance. It will come straight up on an HPI check. You never know, if they dont write it off it may be okay, I hope so mate, good luck.
20 November 2003, 05:36 PM
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Leigh,
Where was it recovered?
I only ask because a colleague of mine pursued a greem MY 97, gold wheels, etc, around 2 weeks ago. Got it cornered, but when he got out, that ***** tried to run him over.
1600 focus had no chance in the ensuing chase, and it was lost.
This happened in the Wavertree area of Liverpool.
Where was it recovered?
I only ask because a colleague of mine pursued a greem MY 97, gold wheels, etc, around 2 weeks ago. Got it cornered, but when he got out, that ***** tried to run him over.
1600 focus had no chance in the ensuing chase, and it was lost.
This happened in the Wavertree area of Liverpool.
20 November 2003, 05:48 PM
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My understanding is that the point at which insurers write off a vehicle varies between companies but can be at as little as 60% of the vehicles value... so you can try to make an estimate of how much the repairs need to total before its a total loss based on your perception of what a replacement vehicle same age, mileage, condition would cost you.
Getting a rough idea of repair cost isnt too difficult - list all the things you can see that need replacing eg bumpers, wings, bonnet, alloys, radiator, etc etc and make a guestimate for each one. The more stuff that is mechanically knackered the quicker you will get to write off point as workshop labour tends to cost more than bodyshop labour.
If you have finance that is linked to the vehicle then the finance company has an interest, so consider getting them involved. If you think the car will be worth less as a result of the repairs then point this out to both the loss adjuster and the finance company and get an adjustment to compensate.
Finally - good luck - as it will be a claim against your insurance, your premiums will be affected even if you have got protected no claims. It may also be worth investigating if you can get any money back from anywhere else - you used to be able to claim from the Motor Insurers Bureau for items such your excess payment and any items such as hire cars you needed whilst you car was unavailable.
Getting a rough idea of repair cost isnt too difficult - list all the things you can see that need replacing eg bumpers, wings, bonnet, alloys, radiator, etc etc and make a guestimate for each one. The more stuff that is mechanically knackered the quicker you will get to write off point as workshop labour tends to cost more than bodyshop labour.
If you have finance that is linked to the vehicle then the finance company has an interest, so consider getting them involved. If you think the car will be worth less as a result of the repairs then point this out to both the loss adjuster and the finance company and get an adjustment to compensate.
Finally - good luck - as it will be a claim against your insurance, your premiums will be affected even if you have got protected no claims. It may also be worth investigating if you can get any money back from anywhere else - you used to be able to claim from the Motor Insurers Bureau for items such your excess payment and any items such as hire cars you needed whilst you car was unavailable.
20 November 2003, 08:20 PM
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I had an MR2 declared as a write off (well two actually, come to think of it 
) They paid out £6K when the repair quote was £3k !!, I did not get it repaired because it would then have total loss on the book, which for the damage was stupid.
) They paid out £6K when the repair quote was £3k !!, I did not get it repaired because it would then have total loss on the book, which for the damage was stupid.
20 November 2003, 08:46 PM
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Judging by the year/mileage of your car, coupled with the vast damage it has suffered, I think you have a good chance of getting it written off.
Recently I had dealings with repairs to a Pug 206 which had a dented quarter panel, door and sill.
The dents were repaired and no panels were replaced although some bits of trim were.
The final bill came to £1700!!!!
Bodyshop bills can escalate very quickly, and due to the fact that your car will have a pretty low trade value,I think your repairs will far outweigh the cost to replace.
However, if it is repaired, you are able to sell the car with finance, but there are a few things you should be aware of....
It is NOT an offence to sell a car with finance outstanding on it, however, it IS an offence to sell a car with finance outstanding on it with intent to deprive the finance company of the proceeds.
If you are honest from the start and explain to the buyer that you are selling the car to clear the finance and remain up front about things, you should be okay.
Why not instruct the buyer to write a cheque to the finance company for the settlement amount, and once you have received confirmation that the car is clear, the buyer can take it with peace of mind.
[Edited by talizman - 11/20/2003 8:47:35 PM]
Recently I had dealings with repairs to a Pug 206 which had a dented quarter panel, door and sill.
The dents were repaired and no panels were replaced although some bits of trim were.
The final bill came to £1700!!!!
Bodyshop bills can escalate very quickly, and due to the fact that your car will have a pretty low trade value,I think your repairs will far outweigh the cost to replace.
However, if it is repaired, you are able to sell the car with finance, but there are a few things you should be aware of....
It is NOT an offence to sell a car with finance outstanding on it, however, it IS an offence to sell a car with finance outstanding on it with intent to deprive the finance company of the proceeds.
If you are honest from the start and explain to the buyer that you are selling the car to clear the finance and remain up front about things, you should be okay.
Why not instruct the buyer to write a cheque to the finance company for the settlement amount, and once you have received confirmation that the car is clear, the buyer can take it with peace of mind.
[Edited by talizman - 11/20/2003 8:47:35 PM]
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20 November 2003, 10:20 PM
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Comments on Finance are correct, people sell cars with O/S finance all the time. However Buyer must be satisfied that you are going to pay the finance off forst....Comment above about one cheque for Finance House and one for you will hopefully provide piece of mind for buyer. And be direct and clear about the O/S finance from the start
20 November 2003, 10:34 PM
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The problem is, although we now have Tracker in at least 4 cars per shift in our area, the cars they are fitted to are crap! i.e Focus 1.6...ain't ever gonna catch a scoob.
Heard a rumour that we will be getting 2 Vectra 3.2's for the area in the New Year...not the best, but should be okay on the straight bits. Found a few trackered vehicles around the Wavertree/Toxteth area, usually parked secure while the ****e wait to see if it gets located. Never found a scoob, only chased one and that got to over a ton on a council estate (3 in the morning)...but I caught it!
...however, only after the engine blew up
Not back in till next week, but I'll see if I can get you any info Leigh...sorry to hear 'bout your car...*****
Edited to say: PLEASE lads/ladies, consider blackjax!
[Edited by Deako1 - 11/20/2003 10:37:49 PM]
Heard a rumour that we will be getting 2 Vectra 3.2's for the area in the New Year...not the best, but should be okay on the straight bits. Found a few trackered vehicles around the Wavertree/Toxteth area, usually parked secure while the ****e wait to see if it gets located. Never found a scoob, only chased one and that got to over a ton on a council estate (3 in the morning)...but I caught it!
...however, only after the engine blew up
Not back in till next week, but I'll see if I can get you any info Leigh...sorry to hear 'bout your car...*****
Edited to say: PLEASE lads/ladies, consider blackjax!
[Edited by Deako1 - 11/20/2003 10:37:49 PM]
21 November 2003, 10:20 AM
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Thanks for the info guy's. I've just been reading over my finance agreement and I think I have another way to sort this out.
The agreement reads as follows.
You have a right to end this agreement. If you wish to do so, you should write to the person authorised to receive your payments. We will then be entitled to return of the goods and to half the total amount payable under this agreement, that is £'sssssss. If you have already paid at least this amount plus nay overdue instalments, you will not have to pay any more, provided you have taken reasonable care of the goods.
So, I have paid at least their stipulated figure, there are no overdue instalments. Although the car is in the best looking condition at the moment, it will be if the insurance decide to fix it.
Has anybody exercised their to terminate an agreement in this way?
The agreement reads as follows.
You have a right to end this agreement. If you wish to do so, you should write to the person authorised to receive your payments. We will then be entitled to return of the goods and to half the total amount payable under this agreement, that is £'sssssss. If you have already paid at least this amount plus nay overdue instalments, you will not have to pay any more, provided you have taken reasonable care of the goods.
So, I have paid at least their stipulated figure, there are no overdue instalments. Although the car is in the best looking condition at the moment, it will be if the insurance decide to fix it.
Has anybody exercised their to terminate an agreement in this way?
21 November 2003, 10:35 AM
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Yes, I know it as the 1/2 1/3rds rule. Can't remember exactly how it works but my wife bought a Ford Ka on finance and got VERY bored with it after 2 years
We got in touch with the finance company and asked for a settlement figure to get rid of it as we hadn't paid half of it off yet.
Someone will correct me here I'm sure as I don't have an agreement in front on me but I think it's something like this. If you have paid 1/3 of the finance, the finance company cannot just repossess your car if you don't make the payments (not entirely sure about this one
) and if you've paid 1/2 there is some sort of calculation between outstanding finance and the cars value and you can get rid.
Sorry I can't be exact, someone on here will know the legal in's and out's but you can get rid of a car on finance without any cost to yourself. Well you do lose your car and start again from scratch but if that's what you want - go for it
Doofus.
We got in touch with the finance company and asked for a settlement figure to get rid of it as we hadn't paid half of it off yet.
Someone will correct me here I'm sure as I don't have an agreement in front on me but I think it's something like this. If you have paid 1/3 of the finance, the finance company cannot just repossess your car if you don't make the payments (not entirely sure about this one
) and if you've paid 1/2 there is some sort of calculation between outstanding finance and the cars value and you can get rid.Sorry I can't be exact, someone on here will know the legal in's and out's but you can get rid of a car on finance without any cost to yourself. Well you do lose your car and start again from scratch but if that's what you want - go for it
Doofus.
21 November 2003, 10:46 AM
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You finance agreement will have the "termination amount" on it somewhere, usually in bold.
The halves and thirds as it is know are in place to protect your rights as a consumer.
The car however must be in a fit state and not virtually worthless to hand it back.
It basically works this way...
Cost price of car
minus deposit/trade in
plus interest
plus set up fees etc
Gives you total amount borrowed.
This amount is halved and you have your "Termination amount"
It usually coincides with the half way term of the agreement. (i.e. 30 months into a 5 year loan)
Most salsmen don't broadcast this scheme, as it must affect their comission or business to some extent, but you are perfectly within your rights to do it.
A guy I work with did it. He had to pay a "removal fee" of £80 IIRC and a flat-bed tow truck turned up at his house and took the car away, never to be seen again!
Especially useful if you are tied to a big loan on a fast depreciating car.
The halves and thirds as it is know are in place to protect your rights as a consumer.
The car however must be in a fit state and not virtually worthless to hand it back.
It basically works this way...
Cost price of car
minus deposit/trade in
plus interest
plus set up fees etc
Gives you total amount borrowed.
This amount is halved and you have your "Termination amount"
It usually coincides with the half way term of the agreement. (i.e. 30 months into a 5 year loan)
Most salsmen don't broadcast this scheme, as it must affect their comission or business to some extent, but you are perfectly within your rights to do it.
A guy I work with did it. He had to pay a "removal fee" of £80 IIRC and a flat-bed tow truck turned up at his house and took the car away, never to be seen again!
Especially useful if you are tied to a big loan on a fast depreciating car.
21 November 2003, 10:53 AM
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Excellent, thanks again guy's, it's gonna hurt to send it back, but not as much as having your house broken in to, whilst in bed, by some theiving scum.
Cheers,
Leigh
Cheers,
Leigh
21 November 2003, 10:57 AM
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Oh and a quick reminder for you ..... before the low-loader comes remember and take your tax disc out and redeem it.
We forgot and the buggers 'misplaced' it when we asked for it back. OK it's only a few quid but I wouldn't give finance companies 5 pence extra if I could help it.
Good luck with getting it fixed and 'removed' .. surely if the car is good enough for the insurance company to repair it and have you drive around in it ... it's good enough for the finance company
valuation wise.
Doofus.
We forgot and the buggers 'misplaced' it when we asked for it back. OK it's only a few quid but I wouldn't give finance companies 5 pence extra if I could help it.
Good luck with getting it fixed and 'removed'
.. surely if the car is good enough for the insurance company to repair it and have you drive around in it ... it's good enough for the finance companyvaluation wise.
Doofus.
21 November 2003, 11:10 AM
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Doofus, good point, I'll also be removing the rockford cd player aswell and I think I better put the standard exhuast back on it whilst I'm at it. So if anybodys intrested in a scoobysport backbox and a TSL downpipe let me know.
Leigh
Leigh
21 November 2003, 02:18 PM
#17
Got rid of a Rover under the 1/2's rule on finance a few years ago. Prices of used cars had fallen a lot, but the Rover/BMW situation meant the "value" of mine fell through the floor.
Wrote to the finance company and gave them a month's notice I'd be delivering it to the local dealers. When the day came, the dealer knew nothing of the arrangement, so I just asked 'em for a receipt to fax to the finance company and walked away.
Wrote to the finance company and gave them a month's notice I'd be delivering it to the local dealers. When the day came, the dealer knew nothing of the arrangement, so I just asked 'em for a receipt to fax to the finance company and walked away.
21 November 2003, 03:15 PM
#18
I never knew about this get out clasue.
I have been caught out due to buying a scoob and putting down a low deposit.
Now s/hand car prices have crashed I am left with a gap between the settlement figure and what I could realisticall get for the car.
Plus it now has bad piston slap.
Anyone one know of more details about this clause? Tading stds?
Nick
I have been caught out due to buying a scoob and putting down a low deposit.
Now s/hand car prices have crashed I am left with a gap between the settlement figure and what I could realisticall get for the car.
Plus it now has bad piston slap.
Anyone one know of more details about this clause? Tading stds?
Nick
21 November 2003, 04:05 PM
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Gary, not given it any thought mate, I'll only take them off if I have to, as I've really had enough cars at the min. If I take them off, £80 each, plus shipping as they weight a bit.
Leigh
opps, the cd will not be for sale (if if its still in the car!!)
[Edited by LeighJ - 11/21/2003 4:06:56 PM]
Leigh
opps, the cd will not be for sale (if if its still in the car!!)
[Edited by LeighJ - 11/21/2003 4:06:56 PM]
22 November 2003, 11:40 AM
#21
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Butty, it is fairly straightforward....
Check your finance docs for your "termination figure" and as soon as you have payed that amount or more, you can hand the car back.
Add up your deposit, plus the amount you have payed back in monthly instalments to find how much towards termination you have paid.
Check your finance docs for your "termination figure" and as soon as you have payed that amount or more, you can hand the car back.
Add up your deposit, plus the amount you have payed back in monthly instalments to find how much towards termination you have paid.
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