What to do? :(

[bkvyss]

Hey bud , feel for ya . I know what its like to lose what feels like everything . Just 1 point that hasnt come up. If your insurance knocks you back , do you have to pay for any damage to the other guys car ?

 

[riSScky]

Having a good look at the photo there looks to be a lot of cosmetic damage which makes it look a lot worse than it really is. At a guess i'd say there's no real structural damage, looks like you've slid under the car you hit. If you're handy on the tools with some mechanical know how and a few dollars you might just get away with this one.

 

[NZ-GTR]

Another option you can do 'if the ute is found to be totally unrepairable' is sell what you can and minimise the debt. Then pour all your funds into the debt till its paid off. I mean get rides with friends/work colleagues and dare I say it - use public transport. Once you have cleared the debt, then start again, new car new loan etc.

The reason I say this is you can potentially get into a lifelong debt cycle if you keep pouring your future funds into an ever increasing loan. Just a different angle. Personally I'd rather see it work out well for you.

 

[WhiteSv6Ute]

Hey bud , feel for ya . I know what its like to lose what feels like everything . Just 1 point that hasnt come up. If your insurance knocks you back , do you have to pay for any damage to the other guys car ?

Thank you , i think i will as its my fault but they are all insured so should just be paying thier excess in the end.

Having a good look at the photo there looks to be a lot of cosmetic damage which makes it look a lot worse than it really is. At a guess i'd say there's no real structural damage, looks like you've slid under the car you hit. If you're handy on the tools with some mechanical know how and a few dollars you might just get away with this one.

Yeah its getting assed today so will know by this afternoon but after going over pictures and rethinking on what happened im fairly certain that will be the out come so hopefully theres a chance it will be okay.

Another option you can do 'if the ute is found to be totally unrepairable' is sell what you can and minimise the debt. Then pour all your funds into the debt till its paid off. I mean get rides with friends/work colleagues and dare I say it - use public transport. Once you have cleared the debt, then start again, new car new loan etc.

The reason I say this is you can potentially get into a lifelong debt cycle if you keep pouring your future funds into an ever increasing loan. Just a different angle. Personally I'd rather see it work out well for you.

Yeah thats what i was thinking to get out of debt as fast a i can and just buy something out right thats cheap for a couple of years

 

[Sean880]

I agree with NZ-GTR here. I don't know what year (or kms traveled) your series 1 ute is but at best if original and undamaged, I guess it would probably be worth around the 12500 mark and you have a 20000 debt on it.

That is bad enough to begin with. To repair the car properly you are most likely going to be out of pocket for another $10000 at least (given that both air bags will have to be replaced) and presumably you don't have the money for that either. Furthermore whilst the guy you hit will claim on his insurance for any repair, fully expect that his insurance company might come after you for their costs if worth their while (unless it is only a very minor amount) because you are the party at fault and you are fully liable for the damage you caused to the other party.

I would not being going into an much larger debt (with all the interest that debt will accrue on it over the paying down period) to repair the ute. Have the vehicle auctioned off or put it up for private sale or sell it to a wrecker that can give you the best price and put the cash towards repaying your 20000 debt. I would put it up for private sale first and see what level of buyer interest you can get on it from people willing to buy a car for repairs.

Concentrate on ridding yourself of the debt and next time buy a vehicle that you can afford so you do not take on a big debt to buy a depreciating item.

 

[UFO]

Thank you , i think i will as its my fault but they are all insured so should just be paying thier excess in the end.

Mate, I hate to be the bearer of bad news... but that's not how insurance works.
Their insurance will cover them, and your insurance would have covered you.
The fact that they pay an excess on their claim (because you have no insurance) doesnt mean that you just pay their excess.
What it means is, their insurer will come after you to pay for the other car.

By reading this thread, it sounds as though you have no valid insurance. This not only means your car damage isnt covered, but it also means the other isnt covered either .
The party driving the other car is covered, but not you when they come for you.

 

[WhiteSv6Ute]

Mate, I hate to be the bearer of bad news... but that's not how insurance works.
Their insurance will cover them, and your insurance would have covered you.
The fact that they pay an excess on their claim (because you have no insurance) doesnt mean that you just pay their excess.
What it means is, their insurer will come after you to pay for the other car.

By reading this thread, it sounds as though you have no valid insurance. This not only means your car damage isnt covered, but it also means the other isnt covered either .
The party driving the other car is covered, but not you when they come for you.

yeah i said that the wrong way before i understand that could happen will just have to wait and see what happens now.

 

[ducker85]

Mate, I hate to be the bearer of bad news... but that's not how insurance works.
Their insurance will cover them, and your insurance would have covered you.
The fact that they pay an excess on their claim (because you have no insurance) doesnt mean that you just pay their excess.
What it means is, their insurer will come after you to pay for the other car.

This is true.

Know a mate right now going thru this. Rear ended a XR6 turbo, no insurence at all. Wrote off his 300ZX with a fresh 30k motor in it. The XR6s insurence has fixed the XR6 and is sueing the driver of the 300 for the cost of repairs.

 

[WhiteSv6Ute]

This is true.

Know a mate right now going thru this. Rear ended a XR6 turbo, no insurence at all. Wrote off his 300ZX with a fresh 30k motor in it. The XR6s insurence has fixed the XR6 and is sueing the driver of the 300 for the cost of repairs.

yeah i say that will come :/

 

[IBLOWN]

The insurance company just makes a payment plan with you. Just pay what you can afford i.e $20 per week. My mates done the same thing a while back.