''Selling'' car to insurance after write off

bigboss1986

After xmass my car was checked by assessor.3rd party's ins wont fix it ,described as ''economical write off''.3 days of negotiations and I agreed to take check and ''sell'' car to Lib*rty as I dont want to keep it.Car drives fine.
They will contact me 2moro but my question is what do I do with log book??I have to give it to them or send to Shannon with ''new owner details''.That might sound stupid but I dont want get unpaid M50 tools etc,etc There is tax paid until 02/2014 so I think I can claim that back?
Any advise appreciate

bigboss1986

OSI wrote: »

You won't be able to claim the tax back. You can only claim back tax that you would have been able to buy, ie 3, 6 or 12 months work. So any less than 3 months of tax left, you can't claim it back.

Well,thats fine.But what about with log book?:rolleyes:

mickdw

That is actually a good question.
The car is only economical write off and as such it will likely be going on the road again.
I guess they should only be handed the logbook if they are willing / able to complete the form which transfers ownership to a motor dealer. I quess an insurance company who 'buy' cars day in day out and also offload cars to the trade would have to be registered as a motor dealer so at a guess they should be filling out the transfer to a dealer form and have a dealer number to put on that form

bigboss1986

mickdw wrote: »

That is actually a good question.
The car is only economical write off and as such it will likely be going on the road again.
I guess they should only be handed the logbook if they are willing / able to complete the form which transfers ownership to a motor dealer. I quess an insurance company who 'buy' cars day in day out and also offload cars to the trade would have to be registered as a motor dealer so at a guess they should be filling out the transfer to a dealer form and have a dealer number to put on that form

I will have to clear that.Just spoke to mate of mine and he ''sold'' his car to AXA.After 2 months he got tax renewal notice and M50 unpaid toll.He spend good few days to sort it out.His car was taken by one of the ''salvage dealer'' and they just drive it

For Forks Sake

bigboss1986 wrote: »

I will have to clear that.Just spoke to mate of mine and he ''sold'' his car to AXA.After 2 months he got tax renewal notice and M50 unpaid toll.He spend good few days to sort it out.His car was taken by one of the ''salvage dealer'' and they just drive it

In my experience, salvage dealer takes the car. They won't pay out until you've given over the logbook. Car then gets changed into their name online.

bigboss1986

For Forks Sake wrote: »

In my experience, salvage dealer takes the car. They won't pay out until you've given over the logbook. Car then gets changed into their name online.

Sounds good.So I should get 1 check from Liberty and 1 from dealer?I tought that form RF 105 TRANSFER OF VEHICLE OWNERSHIP TO A MOTOR DEALER
should be sent out but if they can do it online will I get some sort of receipt?

discombobulate

I got a refund on the tax from my insurer also when my car was wrote off. Had to send log book into insurer without completing any details on it

scrap_man

discombobulate wrote: »

I got a refund on the tax from my insurer also when my car was wrote off. Had to send log book into insurer without completing any details on it

Your car would have had more than 3 months tax on it tho. Also your car would have been scrapped, the OP car is only an unecominical write off so it could possibly be repaired and put back on the road.

As for what to doo with the log book, there should be no problem with just signing and dating the book and sending it to the insurance company. We buy a lot of cars through insurance companys and if the car is being scrapped, they usually send out the book to us (in the original owners name) and we issue a cert of destruction for it. And if the car is going back on the road, they do a change of ownership into our name.

discombobulate

scrap_man wrote: »

Your car would have had more than 3 months tax on it tho. Also your car would have been scrapped, the OP car is only an unecominical write off so it could possibly be repaired and put back on the road.

Yes over 3 months. Wasn't scrapped though. Was sold to a salvage company and is currently up on Done Deal restored for sale. It was a cat C so was uneconomical to repair.

Kalel

Same thing happened to me before Christmas, car an economic Write off.
Sold it to a Salvage place that Insurance company Setup. I just handed over
the log book when they were collecting it. Received a Certificate of destruction from them a few days later and then another Certificate of Destruction from the Dept of Environment.
I presume they were going to strip it for parts rather than put it back on the road.

bigboss1986

discombobulate wrote: »

Yes over 3 months. Wasn't scrapped though. Was sold to a salvage company and is currently up on Done Deal restored for sale. It was a cat C so was uneconomical to repair.

My one is cat C as well.Liberty told me to post signed form and LOG BOOK without signing it.Sounds odd but was told from this point they are going to take full liability for the car.I hope I get check before salvage comapany will come for my car

discombobulate

bigboss1986 wrote: »

My one is cat C as well.Liberty told me to post signed form and LOG BOOK without signing it.Sounds odd but was told from this point they are going to take full liability for the car.I hope I get check before salvage comapany will come for my car

If your bothered you can also buy the car back off the insurance company for the same price the salvage company offer them. You can then ring around yourself and see if you can get more and if not just sell it to the salvage guys yourself.

Doubt you'll get the cheque before as it'll be one cheque for the full settlement to you. They'll be paying you the full value of the car. If you keep the car they pay you the value of the car minus what they'd get from the salvage company.

bigboss1986

discombobulate wrote: »

If your bothered you can also buy the car back off the insurance company for the same price the salvage company offer them. You can then ring around yourself and see if you can get more and if not just sell it to the salvage guys yourself.

Doubt you'll get the cheque before as it'll be one cheque for the full settlement to you. They'll be paying you the full value of the car. If you keep the car they pay you the value of the car minus what they'd get from the salvage company.

I dont have time to strip car for parts or to fix myself so I decided to sell as it is.I was offered more than I paid last year also car was giving troubles so Im happy with the settlement