[Iamnegan]

Hello everyone,

I recently wrote off my car in an accident. The vehicle was a 3 year PCH lease with no option to buy at the end and the accident was 11 months
into my contract. I put down an initial 3.5k deposit and I was paying £433 per month.

The insurance company valued the car at around £28k which I accepted as fair, however the finance company only wanted £23.5k which I assumed reflected their valuation
minus the amount I had already paid off(£3.5k + 11x£433 = £8356)

The insurance company paid the £23.5 requested by the lease company (minus my £700 excess)and then told me the matter was closed as I don't own the vehicle and therefore
not entitled to any of the difference.

While that makes sense to me I just want to check if that is actually true. I probably would not have accepted the figure and pushed for repairs had I known
I would be left short, considering I need to put another initial payment down for a new car if I want to lease another vehicle again. I'm also assuming the premium
I was charged by my insurance company reflected the amount I would receive if my vehicle was written off.

Do I have any claim to the £5k difference or not?

Thanks

[Drivingforfun]

Sorry, I don’t know but am interested to hear the answer…

I DO know that if the payout was insufficient, you’d be liable for the difference…so why shouldn’t the rules be the same when you stand to benefit??

Seems like a case of moving the goalposts, have their cake and eat it, etc ….

[Beelzebub]

OP, the car wasn't yours, you were just renting it. The owner has been paid, and seems happy.