Car hit from behind, PCP trade in value lower

itsme1284 · 30-01-2023 5:12pm #1

Hi,

looking for a bit of advice. I was hit from behind about 3 months ago. Guy admitted liability and his insurance paid to have it fixed.

My car is nearly 3 years old there wasn’t a lot of damage just a cracked bumper and some panel damage. No one was hurt and I was happy to have the car fixed.

My 3 year PCP is up soon and I was talking to the dealer, he said the crash will de-value the car when trading.

should his insurance have compensated me for this and if so is it too late to ask for the difference.

30-01-2023 5:29pm

I’ve just glanced at the article below…

https://www.autobiz.ie/garage/pcp-motorists-caught-out-by-insurance-gap

It seems that when one is taking out a PCP in the first place one needs to take out “Gap Insurance” to cover such eventualities as yours. I don’t think there’s any remedy now, unfortunately.

BlazingSaddler · 31-01-2023 4:18pm

https://www.boards.ie/discussion/2058282106/car-hit-from-behind-pcp-trade-in-value-lower

Yes they should compensate you. My car was involved in major damage when only a few months old recently. I received 15% of the ex-VAT repair costs as compensation

Eggs For Dinner · 01-02-2023 7:55am

I'm presuming you accepted repairs from the 3rd party's insurers "in full and final settlement" . If so, that's the end of the matter

Casati · 01-02-2023 8:10am

Ignore the dealer comments, practically anything coming off PCP will have a buyer waiting. That GAP insurance is also totally unnecessary

screamer · 01-02-2023 8:23am

A crash of any kind devalues a car, even if fixed properly. There’s not much you can do about it now really Op, if you’re going to trade it in for another pcp deal. i would disagree about the market for cars, as I’d see a lot of company cars coming online in the next few weeks as people surrender them, so I actually see a glut of cars in the next few months.

Car hit from behind, PCP trade in value lower

Comments