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kerry red
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« on: Wednesday, October 9, 2013, 15:19:06 » |
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Bought a car off E-Bay a few months ago for £1500.
Got rear-ended last week and although the damage is fairly minimal (need a new light cluster and the wraparound bumper is knocked out of shape a bit) the other driver's insurance have decided to write it off and have offered £2385 or I keep the car and get that amount less 12%.
Seems a no-brainer to me but as the car will be classed as a Category D write off - what does that exactly mean in terms of what happens next.
I will obviously fix the car myself but is there anything I have to do re the DVLA and will it affect my insurance cover at all
Ta
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Peter Venkman
Past glories motivate us when times are bleak.
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Perfection is not attainable
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« Reply #1 on: Wednesday, October 9, 2013, 15:25:08 » |
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I did this years ago with an RS2000 when it was knicked, all you do is inform the DVLA/VOSA and they inspect it for a fee (less than £50) and then it is registered again for road use, but it will always flag up that it has been an insurance write off if anybody checks so the resale value will be a lot less than the actual value of a non written off car.
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From the station at Colchester
To the cells of Warrington
From the services at Leicester
To the slums of Northampton
We travel over England
And one day Europe too
Cos we all follow the Swindon
We're the famous Town End crew.
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kerry red
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« Reply #2 on: Wednesday, October 9, 2013, 15:27:57 » |
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Thanks
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jayohaitchenn
Wielder of the BANHAMMER
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« Reply #3 on: Wednesday, October 9, 2013, 15:55:53 » |
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You get to keep the car AND get the money you paid for it? That is fucking ace.
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Peter Venkman
Past glories motivate us when times are bleak.
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Posts: 64652
Perfection is not attainable
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« Reply #4 on: Wednesday, October 9, 2013, 16:02:09 » |
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You get to keep the car AND get the money you paid for it? That is fucking ace.
Yep you get the money -the write off cost of the car, I got a payment of £2000 and was able to buy the car back at scrap cost which was £400 so I got a car and £1600 cash and a car that cost me £400 to put back on the road which I sold for £2500  so I made £3700. |
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From the station at Colchester
To the cells of Warrington
From the services at Leicester
To the slums of Northampton
We travel over England
And one day Europe too
Cos we all follow the Swindon
We're the famous Town End crew.
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kerry red
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« Reply #5 on: Wednesday, October 9, 2013, 16:17:44 » |
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You get to keep the car AND get the money you paid for it? That is fucking ace.
I'm actually getting the car back plus £2100 for a car I paid £1500 for 3 months ago. I reckon it will cost me about £200 to get it fixed |
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Sippo
Living in the 80s
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I ain't gettin on no plane fool
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« Reply #6 on: Wednesday, October 9, 2013, 16:52:19 » |
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I'd obviously be warey because some insurance companies will not insure cat d cars. If you do sell the car on in the future you have to declare it and it loses about 40% in value I think.
If you are going to keep the car for a few years I would keep the car, if you have no emotional value I would take the pay off as it is less hassle in the future.
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If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
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Tails
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Posts: 10189
Git facked
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« Reply #7 on: Wednesday, October 9, 2013, 17:03:23 » |
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I'm actually getting the car back plus £2100 for a car I paid £1500 for 3 months ago.
I reckon it will cost me about £200 to get it fixed
Seems good now but in the long run the car might be 'un-insurable' and you'll get sod all if you try and sell it. I'd take the payoff and invest in a new vehicle if I were you. |
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kerry red
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« Reply #8 on: Wednesday, October 9, 2013, 17:37:34 » |
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I think I've got all the info now.
Cat D write off will not require any involvement with DVLA
My present insurer will suspend my insurance until the car is fixed and has been issued with a new MOT
When the time comes to sell the car it will flag up as being a Cat D
My other option is I could try and sell it on E-Bay as a Cat D write off, add that to the insurance money and start from scratch.
Must say I'm surprised that the car has been valued so much higher than what I paid for it.
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4D
That was definately my last game, honest
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I can't bear it 🙄
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« Reply #9 on: Wednesday, October 9, 2013, 22:48:32 » |
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What car is it?
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kerry red
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« Reply #10 on: Thursday, October 10, 2013, 05:12:03 » |
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2005 BMW 320 Estate
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4D
That was definately my last game, honest
Offline
Posts: 23506
I can't bear it 🙄
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« Reply #11 on: Thursday, October 10, 2013, 07:18:28 » |
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Good price. Has it done 200,000 miles? |
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kerry red
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« Reply #12 on: Thursday, October 10, 2013, 08:52:36 » |
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Great shout! I'ts done 201,000
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jayohaitchenn
Wielder of the BANHAMMER
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« Reply #13 on: Thursday, October 10, 2013, 10:04:37 » |
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And what is your mother's maiden name?
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