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I Need A Car Loan After A Write Off In Bronte

I Need A Car Loan After A Write Off In Bronte

Need a car loan after a write off in Bronte? Need a new car in a hurry?


It’s not a great position to find yourself in but it isn’t terminal. There is a defined process for recovering after a write off and your insurer should help you through it. Once done, our Bronte car loan team can help secure a car loan and help you find your next car.


Why do insurers write off cars?


You might look at your car and think it is perfectly repairable. Your insurer might disagree and insist it’s a write off. So how do they come to that decision?

Math. It’s all about the numbers.


Insurers don’t have the emotional connection to the car that you have. They see a car, a cost and a value and go from there. It’s all they are interested in. It’s all they can be interested in, so writing off your car is nothing personal.


When you place an insurance claim, the assessor will look at the current value of the vehicle and the scrap or recycle value of that vehicle. If the cost to repair it comes close to that recycle value, the insurer will write it off.


They will also obviously write off the car if the safety or strength of the car is compromised.


You can disagree the decision to write off your car but it won’t often go your way.


Challenging write off decisions


You don’t have to accept the insurer’s decision to write off your car. You can ask them to reconsider. They may, or may not agree but you can ask.


If that doesn’t work, most insurers will have an arbitration arrangement with a third party. This will determine what happens next.


You can also ask to keep the car. The insurer can then deduct the recycle value of the car from your settlement figure so you get to keep the car and they pay out the rest on the policy.


Just be aware that Canada has some very stringent rules called Salvage Branding Legislation concerning driving cars that have been written off!


If your car is branded ‘Irreparable’ you cannot drive it on the roads and can only be used for parts. If it is branded ‘Salvage’ you can have the car repaired but it must be inspected and signed off before you can drive it on the road.


It's Time for a New Car Loan After the Write Off


If you cannot keep or repair your old car, it is sadly time for a new one. Get the settlement from the insurer, prepare your paperwork and contact our Bronte car loan team. We can help you from there.


Contact Unique Chrysler for help, advice and competitive car finance in Bronte.


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Categories: Auto Loan

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