Help!!!!
Can somebody help? My sister has just had her car stolen. this car was on higher purchase. She still has eight grand to pay off yet her insurance will only pay out four grand. Something seems wrong here since any car that is on a higher purchase agreement is the property of the finance company so they are the owner. If this is the case is it not there car that was stolen and the loss should be theirs not hers?!!!! Does anybody know if there is any way she can escape the mass financial burden of repayment and loss of car or do the finance companies always sit in the winning seat.
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Comment by Johnny on October 11, 2011 at 21:51 -
thank you for answering
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Comment by rosemary ruth howell on October 11, 2011 at 11:33 -
I would read the small print on the higher purchase agreement and if it does state that the finance company is the owner of the car, then I'd put it in writing to them that their car, details etc, was stolen and send the letter recorded delivery to the finance company and keep a copy of this letter. Otherwise this seems very unfair.
It may also depend on the type of insurance that your sister had- was it fully comprehensive? and again read the small print on the insurance doc. Good luck
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Comment by Diane, Denizen on October 11, 2011 at 9:18 -
I got sort of this in 2005 when a guy Tee boned me at a Yield (his fault he came through at high speed) the insurance never paid the full value of the Jeep, just the Book value. It is just another con, the whole thing is a scam! We owned the Jeep so HP was not the issue in this case, but the fact that we were not 'made good' by the insurance company, because of that as I understand it, they acted unlawfully.
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