-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: What's the most interesting small town you've visited in South Africa?
Car Accident Write Off
- Thread starter LONDON31
- Start date
katasarx
Member
When cost of repair approaches or exceeds asset value.
if the total cost of repairs + the salvage value is close to or greater than the actual pay out of the vehicle then it will be written off. If there are unknowns regarding the repairs there's a high possibility of the right off. Also age and condition of the vehicle does contribute to this.
supersunbird
Honorary Master
Or a percentage of the car value (I forgot the percentage).
So how much is the book market value of the car and how much are the repairs gonna cost LONDON31?
Drifter
Honorary Master
If repairs exceed 60% of the cars value, it gets written off.
Gordon_R
Honorary Master
Its partly a modern trend towards passenger safety (as well as fuel economy). Every feature such as airbags, crumple zones, collapsible steering, improves your chances of surviving, but reduce the car to a pile of scrap metal after inpact.
In the old days it was the opposite! Rigid bumpers, solid chassis, hard steering wheel, all meant that the car survived, but the driver didn't.
Medium speed fender-benders in urban areas are the worst. Once those airbags deploy, nobody will touch that car again. Its worth more in pieces, than as a whole (thats what scrap means).
In the old days it was the opposite! Rigid bumpers, solid chassis, hard steering wheel, all meant that the car survived, but the driver didn't.
Medium speed fender-benders in urban areas are the worst. Once those airbags deploy, nobody will touch that car again. Its worth more in pieces, than as a whole (thats what scrap means).
Gordon_R
Honorary Master
To answer your original question 'write off' is mostly a legal and insurance term. There is nothing to stop you from:
1. Driving around a battered, dented and scratched car, although selling it becomes a problem.
2. If it has sentimental or historic value, spending millions restoring it to mint condition.
The first scenario would be someone who has no resources to fix the problem. The second would not be the rational reponse of minimising costs, and avoiding future hassles.
1. Driving around a battered, dented and scratched car, although selling it becomes a problem.
2. If it has sentimental or historic value, spending millions restoring it to mint condition.
The first scenario would be someone who has no resources to fix the problem. The second would not be the rational reponse of minimising costs, and avoiding future hassles.
ArtyLoop
Executive Member
You have people that specialize in these vehicles... SMD come to mind, you can buy them smashed, repair them and enjoy a nice car for a fraction of the price if you are willing to do the work yourself.
pinball wizard
Honorary Master
Yeah there was a guy here that did that. Was quite a nightmare if a remember correctly.
Pitbull
Verboten
If the car is salvageable and you have no outstanding debt on it, ask for a cash-in-lieu settlement. They will pay you the cost of the vehicle minus salvage cost. Have it repaired and you can drive the car again.
ArtyLoop
Executive Member
Only nightmare was you needed CASH IN HAND actually. Well might have changed considering I don't live there anymore.
pinball wizard
Honorary Master
Um, no. The guy here had endless problems after with the ongoing **** going wrong with the car.
I don't know if that was your car, but I saw a car get written off this morning. At least, I heard the accident, then a few seconds later I saw the result. Taxi and a BMW 1 series had a collision, looks like the 1 series collided into the taxi. Whole front of the 1 series was a complete wreck. Thought to myself, that 1 series is definitely a write off!
This happened on William Nicol if anyone is curious.
This happened on William Nicol if anyone is curious.