Alfa 4C written off (leased car help needed)

[MechMovement]

Okay so update:

Car has now NOT been officially written off.

Repair cost has been quoted between 19 - 22k and insurance are sending out a third party to re-assess the vehicle.

In the mean time they are asking me to find out what the settlement figure is from my leasing company.

Am i falling into a trap here or should i let them have the settlement figure?

If the car is written off i guess:
- Set to lose my initial rental + all payments made so far + insurance premium already paid (circa £7000)

If the car is repaired:
- Get to carry on using the car, carry on paying for it and hand it back at the end of the lease without any charges (hopefully)

I believe it is in my best interest to get the car repaired? Obviously making it very clear that i would need in writing that any charges incurred at return time of the vehicle due to improper repair will be passed on.

I really feel hard done by, none of this was my fault and i'm losing money. If anyone can help with this side of things that would be great, i can only think of getting in touch with the Financial Ombudsman, Office of fair trading. Why should i as a non fault party have to lose the insurance premium that i have paid and stomach any increases in premium due to this?

I understand the financing of the car is my own choice and that is a largely lost cause.

Again thanks in advance for any constructive comments.

[saaby93]

your insurer or third party's insurer are sending out assessor?
Have you had a loan car mean time?
what happened to the GAP insurer?

[MechMovement]

saaby93 said:

your insurer or third party's insurer are sending out assessor?
Have you had a loan car mean time?
what happened to the GAP insurer?

My insurers are sending out an assessor

Getting a loan car today through my insurance

GAP was included in my lease deal as a GAP Waiver (Leasys is the lease company)

[saaby93]

MechMovement said:

My insurers are sending out an assessor
Getting a loan car today through my insurance
GAP was included in my lease deal as a GAP Waiver (Leasys is the lease company)

ok so it's all being handled through your insurer
They'll be looking for a settlement figure now but a settlement figure to include what

Maybe if you let the lease co know you'd like to continue where you left off with a replacement car,
what sum in settement do they need from the insurer to make that happen

Insurer should compare that with the £19k+ to repair the car plus possible rework plus ongoing loan car costs to decide which way to go

The repairs are to be carried out an alfa repairer?

Edited by saaby93 on Friday 5th January 16:16

[MechMovement]

saaby93 said:

k so it's all being handled through your insurer
They'll be looking for a settlement figure now but a settlement figure to include what

Maybe if you let the lease co know you'd like to continue where you left off with a replacement car,
what sum in settement do they need from the insurer to make that happen

Insurer should compare that with the £19k+ to repair the car plus possible rework plus ongoing loan car costs to decide which way to go

The repairs are to be carried out an alfa repairer?

Edited by saaby93 on Friday 5th January 16:16

Yet to be decided where the repair will take place as the current repairers don't seem so keen to carry out the repair work. So that is a little unclear.

Will get on the phone to my leasing company now and see what i can do regarding carrying on...

[BlackLabel]

MechMovement said:

If the car is written off i guess:
- Set to lose my initial rental + all payments made so far + insurance premium already paid (circa £7000)

Have heard of his happening a handful of times now. So what kind of insurance would protect people from losing their initial rental should a lease car be written off soon after you’ve taken delivery?

[saaby93]

BlackLabel said:

Have heard of his happening a handful of times now. So what kind of insurance would protect people from losing their initial rental should a lease car be written off soon after you’ve taken delivery?

One of the GAP insurers mentioned earlier covers it, but the other way is some lease cos arrange a replacement car so it doesnt arise
he shouldnt lose his insurance premium as his insurer wil pass on the claim to the third party
You only lose your premium if its your own fault

[Rick101]

MechMovement said:

If the car is written off i guess:
- Set to lose my initial rental + all payments made so far + insurance premium already paid (circa £7000)

Surely you haven't lost that, you've just paid for the time you have had so far.
Only the 'initial' is potentially a loss but if you have the correct GAP cover you should get that back.

[MechMovement]

Maybe i have made a mistake here by not purchasing GAP from a 3rd party but i thought that the GAP WAIVER part of my agreement with LEASYS was exactly that. Have since read this:

^Covers the early termination cost (40% of outstanding rentals) in the event of an insurance write-off. Any Insurance shortfall must be covered by you.

Can't seem to get in touch with Leasys at the moment but i believe my next steps are:

- Get a settlement figure
- Pass it on to my insurance
- They will do some math and work out what is more cost effective to them and do that.

I do not really understand the replacement vehicle side of things and if the GAP Waiver and GAP insurance are two different things then that is my mistake and will be a hard lesson learnt.

I must say this whole experience has put me off owning a nice car and deflated is an understatement.

[MechMovement]

MattyB_ said:

Any pics of the car (without wanting to sound morbid) ? Everyone sounds like they're OK, so either the car is expensive to repair so easily written off, or it holds up well in big accidents and you've walked away OK!

ash73 said:

Would be interested to know what £19-22K of damage looks like on one of these, maybe once the claim has been processed.

Let me get things in order then i will post images.

Maybe even post a sticky or something for those leasing a car involved in an incident such as mine.

[saaby93]

MechMovement said:

Maybe i have made a mistake here by not purchasing GAP from a 3rd party but i thought that the GAP WAIVER part of my agreement with LEASYS was exactly that. Have since read this:

^Covers the early termination cost (40% of outstanding rentals) in the event of an insurance write-off. Any Insurance shortfall must be covered by you.

Can't seem to get in touch with Leasys at the moment but i believe my next steps are:

- Get a settlement figure
- Pass it on to my insurance
- They will do some math and work out what is more cost effective to them and do that.

I do not really understand the replacement vehicle side of things and if the GAP Waiver and GAP insurance are two different things then that is my mistake and will be a hard lesson learnt.

I must say this whole experience has put me off owning a nice car and deflated is an understatement.

You're treating this as an at fault claim as if it was your fault
Its not
Its the third party's fault
As youre using your insurer they should claim everything from the third party including their fees for sorting it out for you
Remember theyre making money out of this thanks to you putting the claim through them - make them work for it

[Sheepshanks]

MechMovement said:

I really feel hard done by, none of this was my fault and i'm losing money.

You're not losing money yet, but you might if it's written off.

Is your insurance company supplying a like-for-like (or similar) hire car? That'll bump the cost up significantly if looking at the overall cost as it sounds like the repair will take some time.

Insurance companies can be odd though - the TP insurer insisted on repairing our friends Mitsubishi Colt, worth £3K max, after their policyholder heavily T-boned it recently. The bodyshop repairing it was gobsmacked. It was as if the insurance company was being awkward on purpose, as our friend wanted it written off.

[evoivboy]

Most insurers include an old for new if under 1 year old, have you checked this?

[Cold]

ash73 said:

Would be interested to know what £19-22K of damage looks like on one of these, maybe once the claim has been processed.

Not much I wouldn't have thought. If the tub has taken a knock it will require more than few hours of work to replace it.

[MechMovement]

evoivboy said:

Most insurers include an old for new if under 1 year old, have you checked this?

My insurance company do not.

Sheepshanks said:

You're not losing money yet, but you might if it's written off.

Is your insurance company supplying a like-for-like (or similar) hire car? That'll bump the cost up significantly if looking at the overall cost as it sounds like the repair will take some time.

Insurance companies can be odd though - the TP insurer insisted on repairing our friends Mitsubishi Colt, worth £3K max, after their policyholder heavily T-boned it recently. The bodyshop repairing it was gobsmacked. It was as if the insurance company was being awkward on purpose, as our friend wanted it written off.

In all honesty i am 98% sure it will be written off, from the tone etc of whomever i am speaking to.
Insurance company are not offering a like for like and i will be in a Vauxhall Mokka for the time being.

[FWIW]

I wonder if Europa Consultants would be any help?

http://www.europaconsultants.co.uk/

(anniesdad on here iirc)

[saaby93]

MechMovement said:

evoivboy said:

Most insurers include an old for new if under 1 year old, have you checked this?

My insurance company do not.

Sheepshanks said:

You're not losing money yet, but you might if it's written off.

Is your insurance company supplying a like-for-like (or similar) hire car? That'll bump the cost up significantly if looking at the overall cost as it sounds like the repair will take some time.

Insurance companies can be odd though - the TP insurer insisted on repairing our friends Mitsubishi Colt, worth £3K max, after their policyholder heavily T-boned it recently. The bodyshop repairing it was gobsmacked. It was as if the insurance company was being awkward on purpose, as our friend wanted it written off.

In all honesty i am 98% sure it will be written off, from the tone etc of whomever i am speaking to.
Insurance company are not offering a like for like and i will be in a Vauxhall Mokka for the time being.

Again thats all written as if its an at fault own fault claim

Whatever loan car you have will be claimed from the third party until youre mobile again
You have to be reasonable about it but a Vauxhall Mokka?

Its not for your insurer to decide whether you get a new car either - theyre claiming it from the third party

[Sheepshanks]

evoivboy said:

Most insurers include an old for new if under 1 year old, have you checked this?

Doesn't usually (ever?) apply to leased cars.

[Mo28]

evoivboy said:

Most insurers include an old for new if under 1 year old, have you checked this?

As far as I am aware this doesn't apply to leased cars but I could be wrong.

The lease company could replace the car and let your contract continue, it would be best to speak to them and let them decide the next call of action.

Due to the technical nature in which the 4C is built, the body panels are made of Sheet Moulding Compound. Don't think there will be many body shops that will be able to repair it (again I could be wrong). Pictures would help a lot.

I vaguely remember a youtuber with a 4C where a van hit the passenger side rear quarter of his car. His car did get repaired.

[saaby93]

FWIW said:

I wonder if Europa Consultants would be any help?
http://www.europaconsultants.co.uk/
(anniesdad on here iirc)

Always a good bet but not sure the business is still going

Remember youre really renting a car but with a high payment for the first month
That first payment is typically lost unless theyre willing to continue the agreement on a replacement car
if the insurer and the lease company play ball.

https://www.osv.ltd.uk/what-happens-if-my-lease-ca...

ovo said:

There are two options available if your car is a total loss;

If the car is less than 12 months old at the time of the accident, then some insurance companies will offer something called ‘New Car Replacement’. This is when the insurance company provides you with a brand new like for like car. However, because you are leasing and you don’t own the car, whether you get this ‘New Car Replacement’ is up to the finance house. Because they are the ones that own the car. While this may seem like the most financially viable option, if there’s a long wait for that make/model, you could end up waiting for 2-3 months for a replacement car.

and

StableContracts said:

saaby93 said:

Relating to a forum thread
If I take out a 6+23 lease and my car is stolen in say in month 1 (but other months could apply) and my insurance agrees to pay out for the car, where do I stand?
Do you issue another car with the insurance money so I can continue with the deal?
Or do I have to start again and find another 6 month payment from somewhere?
Thanks

Great question!

It's really down to the discretion of the finance company. In theory they could terminate the agreement and then you would have to start again. But we have seen on a number of occasions that if a like for like car can be found then the finance company will allow the contract to continue.

Hope this helps?

Dave

Edited by saaby93 on Saturday 6th January 00:36