Re: Car advice
Posted by Dom Johnston
May 17, 11:12AM
First of all, check on things like Autotrader for similar vehicles to see how much they are going for, then if they are going for more than the insurance is offering, go back and ask for more. Also, double check on your policy on the vehicle value that it was insured for. They will always offer less to get things sorted out quickly. This is usually much lower than the market value.
Once you have an offer which you're happy with and can purchase a like for like car with, take the money. If you buy the car back you either A - have to pay for expensive repairs or B - try and sell if for spares or repair/parts. If you do repair it, you will struggle to insure it at a reasonable cost as it has been classed as an insurance write off, then you'll also struggle to sell it or trade it in down the line.