Jump to content

Recommended Posts

Posted

My friend few days ago car accident,car very bad damage, turn over, wiliyah car insurance said that if repair , only can pay up to 70% of 333k, however if my friend don't want to repair, viliyah pay for 330k, so, are my friend need to pay back first car buyer rebate 84K? car is 3 years now, still have 2 years for instalment.

Posted

I don't really understand the options.

Is the insurance company actually offering to officially write-off the car and pay it out or not?

Posted

The insurance give him 2 option,

1 repair not more then 70 % of 330k, if more then that 70%, owner top up .

2 pay out 330k, no repair

I don't really understand the options.

Is the insurance company actually offering to officially write-off the car and pay it out or not?

Posted

The insurance give him 2 option,

1 repair not more then 70 % of 330k, if more then that 70%, owner top up .

2 pay out 330k, no repair

I don't really understand the options.

Is the insurance company actually offering to officially write-off the car and pay it out or not?

Well, if 330K is the insurance value, and they expect the repairs might go over 230K in value, the car must be in very bad shape. In which case, you probably wouldn't want it anyway I guess.

In the case of an official write-off, he shouldn't have any issues with the first car buyer rebate, because the car never needs to be transferred into someone else's name. He should still contact the Excise Tax dept and verify though.

Posted

tommyuk77 just go and ask the insurance company about option 2 pay out 330k when the car is in FTB scheme how much does he get ,they will want the wreck and the blue book.

Posted

Because my friend still coma in hospital, can I call on behalf and ask?

The insurance give him 2 option,

1 repair not more then 70 % of 330k, if more then that 70%, owner top up .

2 pay out 330k, no repair

I don't really understand the options.

Is the insurance company actually offering to officially write-off the car and pay it out or not?

Well, if 330K is the insurance value, and they expect the repairs might go over 230K in value, the car must be in very bad shape. In which case, you probably wouldn't want it anyway I guess.

In the case of an official write-off, he shouldn't have any issues with the first car buyer rebate, because the car never needs to be transferred into someone else's name. He should still contact the Excise Tax dept and verify though.

Posted

Alright, will try to call insurance and check.

tommyuk77 just go and ask the insurance company about option 2 pay out 330k when the car is in FTB scheme how much does he get ,they will want the wreck and the blue book.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...