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does this mean that all vehicles now have a minimum value of 2000, all the time the scrapage scam is running
as insurance companies use market value to value a car
the goverment have capped it at 2000 iff you meet the criteria
iff you see what i mean
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They probably should but you just know they won't. They'll go off the value of similar models for sale on the open market.
Bet you could find a dealer who'd say you had agreed to buy a new car off them though and try and wangle the extra money from the insurance.
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Corsa Apology Champion 2014.
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redgt2
Part of things
praise the lowered!
Posts: 863
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nah insurance companies will always argue the lower value whether or not the owner has the means to pay for a new car i reckon
and as you say the scheme isnt permanent so a few hundred quid car is still going to be that in the future ....
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kee
Posted a lot
Posts: 4,991
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a scrap price isnt a market value is it, they don't sell for that price, they are traded for that price. market value is the general price the cars are bought for on the market. otherwise in the past they would have said the market value is scrap value therefore £50  |
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insurance and scrapage scamBenzBoy
@benzboy
Club Retro Rides Member 7
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Well technically the car is only worth a grand and the dealer matches what the dealer gives for the car. Plenty of cars for sale for well under two grand in Autotrader / eBay / local rag so I would say no.  |
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Well, because you can't GET £2,000 for them - essentially the scrappage scheme is like haggling a good price for a trade off, rather than getting anything.
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no, a friend of tried it, had their car nicked, Said they'd planned to use the scrapage scheme, Still only got £350  |
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No they wont - why should they? the deal is if you go and buy a new car. I know a person who argued this with an owner of a Citroen ZX. Car was a write off but still driveable. They argued the value at £2000 but had no plans to buy a new vehicle. The insurance company paid 'market value' as per the policy terms (i think it was £500) and let them keep the car - they told the owner as it's still mot'd to take it down to the dealer and they should still get the £2000 scrapage (+ the £500 for the car) guess what ?? they didnt buy a new car  I suppose if you proved you were in the process of buying a new car or about to I don't see why the insurance company cant provide a letter to advise authoritys that it's scrapped or why couldnt they deliver the smashed car to the dealership but to just get the £2000 is not applicable until you sign the order for a brand new car |
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Hirst
Posted a lot
This avatar is inaccurate, I've never shaved that closely
Posts: 3,930
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This is excellent "thicko logic", just think of all the morons setting fire to their motors and excitedly phoning the insurance company to get their two grand, only to eventually end up on the bus. Terrific!
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This is excellent "thicko logic", just think of all the morons setting fire to their motors and excitedly phoning the insurance company to get their two grand, only to eventually end up on the bus. Terrific! SORRY FOR NOT BEING AS INTELIGENT AS YOU |
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Don't think he meant you, tbh... you've posed the point hypothetically as opposed to going outside with a can of petrol, a box of swans and Direct line's number on speeddial |
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To get a standard A40 this low, you'd have to dig a hole to put it in |
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