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Car hit from behind, PCP trade in value lower

  • 30-01-2023 6:12pm
    #1
    itsme1284
    Registered Users Posts: 158 ✭✭itsme1284


    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.



Comments

  • #2
    Maddux Modern Sadness
    Posts: 0 ✭ Maddux Modern Sadness


    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.



  • #3
    BlazingSaddler
    Registered Users Posts: 1,151 ✭✭✭BlazingSaddler


    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



  • #4
    Eggs For Dinner
    Registered Users, Registered Users 2 Posts: 3,014 ✭✭✭Eggs For Dinner


    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



  • #5
    Casati
    Registered Users, Registered Users 2 Posts: 3,043 ✭✭✭Casati


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



  • #6
    screamer
    Registered Users, Registered Users 2 Posts: 6,174 ✭✭✭screamer


    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.



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