Stolen car...process to follow

[guitarist28]

Hey guys

So I had the misfortune today of having my car stolen...out of the complex we live in....great...

Police has been here and I am awaiting my case number.

Anyway, I wanted to find out what the process is in terms of the financing company....silly question but I probably need to let them know, right? Or dont I? Or what?

I'm just thinking my next installment is a couple of days away so would like to possibly halt the deduction at the moment and settle the account once the insurance pays out. Can that be done? Otherwise, if the deduction goes off, it'll be money down the drain.

 

[Sinbad]

Hey guys

So I had the misfortune today of having my car stolen...out of the complex we live in....great...

Police has been here and I am awaiting my case number.

Anyway, I wanted to find out what the process is in terms of the financing company....silly question but I probably need to let them know, right? Or dont I? Or what?

I'm just thinking my next installment is a couple of days away so would like to possibly halt the deduction at the moment and settle the account once the insurance pays out. Can that be done? Otherwise, if the deduction goes off, it'll be money down the drain.

It wont be down the drain, it will reduce your settlement.

 

[guitarist28]

It wont be down the drain, it will reduce your settlement.

Ah, true also...

 

[ChilliGirl]

Ah, true also...

Need to let finance and insurance know asap...

 

[MickeyD]

Get the SAPS case ref number ASAP! Tonight if possible.

First thing tomorrow... phone finance house and insurer and inform them of theft, preferably with SAPS case ref number. If you don't have the ref you can provide it to them later.

 

[Arthur]

+1
My sympathies. Blerry barbarians.

Phone insurance and finance company without delay, even tonight. Then follow up the call with emails. Make sure all your communications are in writing. Follow up EVERY phone call with an email or letter summarising the discussion, decisions, and actions.

 

[creeper]

1. Report to the police and get a police number
2. Register a claim at your insurance company.
3. Inform your bank of the theft

Generally what happens is that if the vehicle is find, it is repaired by the insurance at it is returned to you. If it hasn't been find at after a certain time, the market value (or purchase value, depending on your insurance) is paid out, first to the bank and then to you if there is any cash left. If it is paid out at market value and it is less, you a still liable to pay the outstanding amount to the bank, unless you took out the option to cover credit shortfall. In the event that the claim is paid and they find the car, it becomes the property of the insurance company.

Make sure that you have a copy of the registration document for the car. I recall some insurance companies want it.

 

[Brawler]

Purely out of interest, what car?

Goodluck.

 

[AlmightyBender]

+1
My sympathies. Blerry barbarians.

Phone insurance and finance company without delay, even tonight. Then follow up the call with emails. Make sure all your communications are in writing. Follow up EVERY phone call with an email or letter summarising the discussion, decisions, and actions.

This + 1 million. Get everything in writing

 

[guitarist28]

Toyota Yaris

 

[MrMocs]

Toyota Yaris

I always thought these are low theft risk.Sorry for your loss

 

[zeb]

Get everything in writing

Nowadays all calls are recorded. You'll be informed of this by the consultant. At the end when they ask if you'd like a reference number say "yes" and write it down.

 

[Kloofvreter]

Nowadays all calls are recorded. You'll be informed of this by the consultant. At the end when they ask if you'd like a reference number say "yes" and write it down.

Yeah, but try to get a copy of a conversation when you're in an argument with them.

 

[zeb]

Yeah, but try to get a copy of a conversation when you're in an argument with them.

Fair enough but insurers and the banks are usually very helpful. They usually want to get it over just as fast as you do.

 

[Kloofvreter]

Fair enough but insurers and the banks are usually very helpful. They usually want to get it over just as fast as you do.

Yeah I've never had a problem with Santam. The issue was with a dispute I had with Hollard and what was apparently telephonically agreed to by me. Could never retrieve a copy of that conversation.

 

[chrisc]

You are still liable for the payment, even though the car has been stolen. The insurance payout should match the car's present value which will hopefuly be more than the settlement figure.