Sell it? Keep it?

[Law]

Hey

Since having a accident which you may have read about early this month when I left my car in gear and forgot, meaning when I turned the engine on from outside the car it shot out the drive on its own and crashed into a gate post.....well...

I had to claim on my insurance to get the car fixed im going to lose 2 of my 5 years no claim bonus as well having 3 points on my licence for going through a red light in November (1.6 seconds on red.....lame) I have done a couple of insurance quotes and its going up from around £500 per year to about £800-£900,mainly thanks to my claim. which I simply cannot afford!

Car details:
Mazda 2 TS2
Metropolitan Gray
1.3
09 Reg
5500 miles.

I was wondering if it comes to me having to see the car then what kind of price would I be looking at getting for it? I got the car from new in June last year.

Thanks
 

[Gleaming]

Taken from What Car.
Mazda 2 Hatchback 1.3 86 TS2 3dr 2009 (58) 5,500 miles 
Dealer  £9,050 
Private  £8,725 
Part exchange  £8,555 
Trade  £8,155 
Cost new  £10,295 

[josh263uk]

I would have thought that anything will be expensive, if you have lost some of your no claims. Id stick with it if your happy with the car.

[TS2D2003]

Hey

Since having a accident which you may have read about early this month when I left my car in gear and forgot, meaning when I turned the engine on from outside the car it shot out the drive on its own and crashed into a gate post.....well...

I had to claim on my insurance to get the car fixed im going to lose 2 of my 5 years no claim bonus as well having 3 points on my licence for going through a red light in November (1.6 seconds on red.....lame) I have done a couple of insurance quotes and its going up from around £500 per year to about £800-£900,mainly thanks to my claim. which I simply cannot afford!

Try "Go Compare" for your Car insurance.  I have zero no claims bonus as I have'nt owned a car for at least eight years (Been a biker in the meantime) but I just got fully comp insurance on my 2003 TS2 1.4TD for £401 (total installments including the interest) with Swiftcover via Go Compare.

[Law]

Well I have been on a number of compare websites and its not looking good for me really.

I do like my car but im not paying so much for insurance its just not practical with the monthly instalments I already pay for the car.

I might wait a little bit and then decide but I guess im going to get about 8k for it if I sell it

Thanks for the help as usual.

[Si]

Sorry to hear this has happened. 

It sounds like you are paying finance on the car, be careful if you sell it as the loan company may need to know in advance.  Best to check with them first.

[Law]

Yeah its on Finance. I would have to contact them if I do decide to sell but I heard if I was to sell it private then I could sell it and have them write a cheque to the loan company and one to me for the difference.

[Si]

That should be ok, but check first.  Obviously their security for the loan is the car, so make sure its all above board with them before you actually sell. 

[AmandaR]

I imagine that most people will do an HPI check to see if there was any outstanding finance. 
I would be asking that the finance is paid off before I bought it, to ensure that it was cleared.

Not that I don't trust people 

Hope you decide to keep the car, as I am sure you will miss it, if you let it go.

Amanda x

[Law]

I would miss it but then again I wouldnt miss the amount its going to cost if my insurence is going to be eating away at what's left of my money

I will check with the loan company before I decide to sell

I dont see the problem with it though? If I was buying a second hand car that was owned by someone on finance and they said to pay them in two cheques, one to the insurence and one to the person for the rest (if there is any) then what's the difference to me?!
  

[Si]

I will check with the loan company before I decide to sell

I dont see the problem with it though?

If the loan is sucured on the car (they would take the car if you default) then technically/legally the car isn't yours to sell.  That is why it is best to check with them as you have said you will.

I can understand your problem.  Not long after I learnt to drive I had an accident that pushed my insurance up, although I didn't have a loan on the car I still had something that I couldn't afford to keep but couldn't afford to sell!

Good luck whichever way you decide to go 

[Law]

Hi Guys....Just going back to this post about my car....

I have it back in top condition all fixed and new

I was thinking of maybe contacting the Mazda garage and seeing what they would give me for it? Would they buy it back and what kinda of price would they offer do you think?