Hi, thanks for your help. They buy the exact same car that you had with the cash payout from the insurance. You then pay the bank back with your usual installments and the old vehicle will just be substituted with the exact same new vehicle. I do get a say in that it's the exact model that was...
Hi everyone. I was involved in an accident and my vehicle was written off. The vehicle was financed and I still owe R400 000 on it. The insurance agreed to pay R360 000. They offered me a vehicle substitution deal so I wouldn't have to pay the R40 000 difference. Basically they buy me a car for...