That doesn’t seem right. Who is making a claim on that difference?
I now have an update and can respond to your reply.
Daughter has just had an email saying the insurance have been intouch with Santander and paid the settlement in full and the remainder is being paid to my daughters account.
So no time to challenge it or follow the complaints process.
All very strange and seems rather underhanded from the insurance to avoid additional payments.
She will be left with approx £740.
All doesnt seem right or fair.
Thanks all for reading and replying.
Carl
Follow their complaints procedure.
File a complaint if you don't agree with the valuation.
Saying that, if it is the Abarth 595 I hate to say it but the valuation seems in accordance with the market price unfortunately. So don't get your hopes up too much. I hope it works out for her.
Can't advise on the insurance. As an aside, if your daughter was thinking of getting the same make car then it would be a good idea to see about getting the OBD port moved. Sadly they are a common stolen car in Birmingham and OBD theft looks to be the most used method.
your wasting your time leased/PCP the best outcome is the finance is cleared & your back to square one a large deposit or upfront payment is a massive risk with no protection unless you have GAP
After such a short period you wouldn't have made a dent in the agreement the depreciation or the interest
Nothing underhanded that's the process
Could be worse you could be at the end of the agreement & be left with £500 equity towards the next one & them wanting you to find another 3k to start again
Apologies if its a bit harsh idI also have a closer look at the finance agreement chances are it wasn't great deal either
PCP is designed to ultimately keep you in the cycle
Not harsh at all. I appreciate the honesty.
After all this daughter has come to accept the offer after seeking additional advice.
What she is now doing is claiming for personal belongings and Car Seat cover to grab a bit of cash back.
Isn't that what's likely to happen?
I think that’s a pretty generic PCP summation, but for a £14k car with a 5,000 deposit just a few months ago I’d expect to walk away with some cash.