Your cable car has been stolen & you ‘re still paying finance. The beginning thing to do is not panic. Take a attend here for what you should do adjacent. Having your cable car stolen can be traumatic, but there are a few steps you can take to make the aftermath a bite less irritating. Let ’ s take a look at precisely what you should do if your car has been stolen and see what the implications are if you hush owe money on a finance arrangement.

What to do if your car is stolen

If you suspect your car has been stolen, you should call the police and your policy company american samoa soon as possible. But, before you do, it ’ s probably best to make sure there ’ s not been a confusion and a friend or syndicate member has taken it without you realising. If it has been stolen, then it ’ sulfur time to call the patrol using the non-emergency 101 number – although it might feel like an emergency at the clock, it ’ randomness probably not going to be one worth dialling 999 about.

When you call the patrol, make sure you have some basic details to hand, such as the registration, make, exemplary and color. If there are any modifications that would make it stand out, such as spoilers, strange admixture, or a custom-made paint job, tell the police about those besides. The police will then give you a crime reference book number. Make a note of this, as you ’ ll need it when you call your finance and insurance companies to report your car stolen. The patrol will inform DVLA of the larceny, so that ’ s one less thing to worry approximately. They ’ ll besides inform DVLA if the car is recovered. The adjacent dance step is to let your indemnity company know indeed they can start setting the wheels in gesticulate on any claim you make. If you ’ ve bought the car on finance and you ’ re still making repayments, you ’ ll besides need to inform your finance supplier. Let ’ s nowadays take a expression at what happens when you contact your insurance company and finance ship’s company .

How to tell your insurance company your car has been stolen

It ’ randomness important to let your insurance company know vitamin a soon as potential that your car has been stolen – the flying you get the ball rolling with any claim, the quick it will be resolved and a payout made. once your payout has been settled, you can get on with the more interest job of finding your new car. therefore farseeing as you give your indemnity party all the details they need and the crime mention numeral to prove your event, they have three months from the date you contacted them to settle your claim. If they need any far information, the claim may take longer. But this normally merely happens if you ’ re claiming for an accident and there ’ s some consider about who is to blame. Your insurance company should pay out the market rate for the cable car. This is the come you can expect to get had you sold it, taking into history its age, mileage, and circumstance. If you have a classic car, they should pay you the valuation agreed in your policy. If you ’ re not happy with the come they want to give you, you can challenge it. This would be the same process as challenging the amount being offered for a write-off, which we ’ ve covered in our blog What happens if my car is written off while I ’ m still paying finance ?

How to tell your finance company your car has been stolen

With the police and your insurance company informed, it ’ s time to let your finance company know using the data you ’ ve already gathered for your indemnity company.

Simply call them and give them the crime reference numeral you ’ ve been given by the patrol, along with any other relevant information they ask for. You ’ ll necessitate to keep paying your finance installments while your claim is settled by the policy company. If your car is belated found and returned to you, you ’ ll need to get a letter from your indemnity company confirming this. If your car international relations and security network ’ thyroxine recovered and returned to you, you should pay off the sum calm remaining on your finance with the policy payout amount. once that ’ s done, your agreement is finished and you ’ rhenium unblock to start a hale new agreement for a new car. If there ’ s a deficit in the money you get back and the outstanding total owed to your finance company, you ’ ll need to pay this total. If you ’ re in this place, speak to the team at Zuto to see if we can find a finance arrangement to suit your circumstances .

How to tell the DVLA your car has been stolen

Although the patrol will inform DVLA of the larceny, you need to let DVLA know when your call has been settled by occupy in the V5C/3 partially of your V5C registration document, which is a ‘ telling of sale or transfer ’. You ’ ll besides need to send a letter stating when you were paid out, how much you were paid and the name of your insurance party. then you need to send the rest of your V5C to your insurance company. If you don ’ t have the V5C because you were asked to send it to your indemnity ship’s company and you ’ ve already done that, merely explain this in your letter. You should besides include the details of your policy caller, the date of your claim, your registration number, make, model and color .

Will you get a VED refund?

If your car is not found within a week, you can call DVLA and ask for a refund on your vehicle excise duty ( VED, besides known as road tax ). You can do this by filling in a V33 form. To get this form, write to DVLA at the following address – DVLA, Swansea, SA99 1AL. If you pay VED in monthly installments, you won ’ t get a refund but will need to make certain you cancel the payments with DVLA and your trust.

What if your car has a private registration?

If you had a private registration on the car, you can ask that it ’ second transferred to another car, but there are some conditions :

  • A year must have passed since the car was stolen
  • You must have reported it to the police and have the crime reference number
  • You must have a letter from your insurer that shows they are happy for you to have the number plate moved to your new car
  • The car must have been on the road at the time of the theft, by this we mean it must have been taxed, with a current MOT

Should you take out GAP insurance?

If there ’ s a deficit between the measure you paid for your car or owe on finance and the settlement calculate offered by your insurance company if your cable car is stolen, then Guaranteed Asset Protection ( GAP ) policy could cover this. Although this policy international relations and security network ’ t a legal necessity, it is deserving considering if you use car finance to buy a fomite. It ’ south deserving checking your policy to see if GAP cover is included. If not, it might be worth arranging excess brood with your indemnity ship’s company.
If you want to know how much car finance you can afford, our handy car finance calculator will give you a promptly estimate and breakdown of costs. If there ’ s anything else you need to know about car finance, give the team at Zuto a call on 01625 619944 .

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