Total loss and renault finance

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This topic contains 4 replies, has 3 voices, and was last updated by  Driverywivery 1 month ago.

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  • #43894

    Driverywivery
    Participant

    Hi there,

    Has anyone else had any experience trying to deal with Renault Finance regarding a total loss accident?

    My lovely zoe was written off in an accident that wasn’t my fault (white van, their brakes failed at a roundabout). Tesco bank are telling me that my *entire* insurance payout is being claimed by Renault finance to cover the cost of the battery.

    This is a s**t system, excuse my French.

    I’ve been trying to get through to Renault Finance for about half an hour today, no answer.

    #43895

    Trevor Larkum
    Keymaster

    Surely if the ZOE was insured at ‘market value’ as all cars seemed to be today then there should be enough for the car and the battery. At the very least you should get back the *Guaranteed* Final Value that’s in your PCP contract with Renault Finance.

    #43898

    Driverywivery
    Participant

    That’s what I thought, but Tesco Bank said no.

    What’s the Guaranteed Final Value? I bought the car, but the battery was rented.

    I’m not sure what to do! I’ve phoned and emailed and tweeted pretty much everyone I can think of so far…

    #43910

    reboot
    Participant

    If the car, like mine is 3 year old, at the end of PCP, it might be only worth, £4.6 k.its a discrace that after paying for two batteries over 5 years, when I own the car, I’ll still be paying for the battery Forever!
    It’s understandable that this is a form of insurance, as they’ll replace modules, not the battery after it’s capacity drops below 70%, but a more equitable arrangement for cover could be made available.They even want to sell a power wall, consisting of the recycled battery I’ve bought already? Sorry to hear your terrible story, publicity may be a way forward,?

    #43911

    Driverywivery
    Participant

    I’m getting to the bottom of the story eventually… I owned the car but the battery was rented, and that’s confusing everyone.

    So what happens when your owned Zoe with rented battery is written off should be this:

    * Insurance company releases the car to a Renault diagnostics centre.
    * The battery will be assessed.
    * Batteries are unlikely to be a total write-off.
    * If the battery can be fixed, it gets shipped to France for fixing which could cost around £1500.
    * At that point, the insurance will be able to come to a settlement, minus the cost for fixing.

    Depending on the outcome of the assessment, I’ll be looking at both using legal expenses cover to claim back the cost of the battery against the at-fault driver’s insurance, and also publicity.

    And yes, the car is 64 reg so only worth about £5k now.

    I’m very wary about getting another Zoe, although I loved driving it. I’m not sure I can handle the monthly expense of the rental plus the added financial danger involved in accidental write-offs.

    Perhaps the insurance industry needs to up-skill too…

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