Car stolen insurance pay off and PCP

Bl4ckGryph0n

That doesn’t seem right. Who is making a claim on that difference?

neuty

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

Atavus

Follow their complaints procedure.

Bl4ckGryph0n

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.

Lee

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.

daydotz

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

daydotz

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

neuty

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.

IronGiant

Isn't that what's likely to happen?

Atavus

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.