Reposession of Crashed Car

[markvilla21]

Hi everyone. First time ko po magtanong. be gentle.

I purchased an Everest Trend last September and 5 weeks later my driver crashed it into a dump truck. Nobody was hurt but the damage was pretty serious. Airbags did not deploy, but the front, the bumper, the hood, wiring, sensors, wheel alignment, windshield, door, side mirrprs and chassis were all compromised.

Ford estimated repairs to be 890k. They aren't sure if the engine and transmission will also need to be replaced as they said the vehicle needs to be restored first, then road tested so they can find out. If those are damaged, that's at least 500k more.

The loan is with BPI for 4 yrs. It's insured by BPI MS - comprehensive with acts of nature. Despite Ford's recommendation to declare the vehicle as a total loss, BU insisted the vehicle be dismantled to check the engine and transmission. According to them, repair estimates need to be 75% of the vhicle value or higher. This has been going on for 3 weeks now.

I'm concerned cause Ford says that if the vehicle is not declared a total loss, it may take around a year to repair the vehicle. I think it's absurd that I should pay for the car for abyear and not be able to use it. I also don't feel secure about the car anymore. It looks like it's been autopsied and it's hard to imagine it being back to normal ever again.

I'm considering letting them reposess it if they don't want to declare it a TL. I'm being charged via auto dbit on my savings account. If I pull out all my money and tell them I voluntarily surrender the vehicle, what will happen? I'm sure I'll have a bad record but will there be legal implications?

Thanks in advance for your advice.

[cast_no_shadow]

Antayin mo na muna, hindi naman talaga outright declaration ng total loss proseso talaga yan.

Do you need to pay your bank? Of course, utang yun eh and hindi naman nila fault na nabangga at hindi mo magagamit yung sasakyan.

If hindi talaga declared total loss then
talk to your bank and know your options


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[glenn_duke]

Hi everyone. First time ko po magtanong. be gentle.

I purchased an Everest Trend last September and 5 weeks later my driver crashed it into a dump truck. Nobody was hurt but the damage was pretty serious. Airbags did not deploy, but the front, the bumper, the hood, wiring, sensors, wheel alignment, windshield, door, side mirrprs and chassis were all compromised.

Ford estimated repairs to be 890k. They aren't sure if the engine and transmission will also need to be replaced as they said the vehicle needs to be restored first, then road tested so they can find out. If those are damaged, that's at least 500k more.

The loan is with BPI for 4 yrs. It's insured by BPI MS - comprehensive with acts of nature. Despite Ford's recommendation to declare the vehicle as a total loss, BU insisted the vehicle be dismantled to check the engine and transmission. According to them, repair estimates need to be 75% of the vhicle value or higher. This has been going on for 3 weeks now.

I'm concerned cause Ford says that if the vehicle is not declared a total loss, it may take around a year to repair the vehicle. I think it's absurd that I should pay for the car for abyear and not be able to use it. I also don't feel secure about the car anymore. It looks like it's been autopsied and it's hard to imagine it being back to normal ever again.

I'm considering letting them reposess it if they don't want to declare it a TL. I'm being charged via auto dbit on my savings account. If I pull out all my money and tell them I voluntarily surrender the vehicle, what will happen? I'm sure I'll have a bad record but will there be legal implications?

Thanks in advance for your advice.

75% of the insured amount bago ma declare na total lost. Actually talo ka either way, Unang babayaran ng insurance banko ang matitira sa iyo, dahil bago pa most likely walang matitira. TY na yung DP mo at 2 months amort. If credit rating doesn't bother you ipa reposses o voluntary surender monalang, and you are right compromised nayung trend mo. Maganda sana kung may photo ka nung damage.

[dr. d]

the chassis was compromised?

if the manufacturer itself, suggests it be a total loss, "who are the rest of us to argue?"
in a court of law (wag sana umabot dito), sino paniniwalaan ng korte?
my thoughts.

[ninjababez]

If credit rating doesn't bother you ipa reposses o voluntary surender monalang, and you are right compromised nayung trend mo. Maganda sana kung may photo ka nung damage.

nalala ko tuloy yun post recently na di naman daw nasira credit rating nya kasi nakapag loan pa sya ulit
i guess di pa na update database ng blacklisting nun, baka ganun nalang gawin ni TS; utang sa ibang bangko muna hehehe

[Eevie]

Why is it based on the percentage of the amount and not extent of the damage? On a scenario that the A-pillars got damaged, the cost of repairing that might just be 50% of amount but the car is no longer safe and is normally declared a total loss.

[markvilla21]

75% of the insured amount bago ma declare na total lost. Actually talo ka either way, Unang babayaran ng insurance banko ang matitira sa iyo, dahil bago pa most likely walang matitira. TY na yung DP mo at 2 months amort. If credit rating doesn't bother you ipa reposses o voluntary surender monalang, and you are right compromised nayung trend mo. Maganda sana kung may photo ka nung damage.

Yes sir, talo na talaga ako ng 500k. Damage control na lang. I guess mas ok na yun kesa nagpalibing ako ng driver o nagsustento sa baldado. Kikitain naman uli yung pera.

Re: credit rating, as far as BPI is concerned lang naman po yun diba? Meron po ba universal na credit rating sa Pinas gaya sa ibang bansa? Thanks po as response.

[markvilla21]

nalala ko tuloy yun post recently na di naman daw nasira credit rating nya kasi nakapag loan pa sya ulit
i guess di pa na update database ng blacklisting nun, baka ganun nalang gawin ni TS; utang sa ibang bangko muna hehehe

Oo nga sir. Nag conslt ako sa metrobank sabi nila wala naman kaso sa kanila at papautangin daw nila ako despite the BPI thing hehe

[markvilla21]

Why is it based on the percentage of the amount and not extent of the damage? On a scenario that the A-pillars got damaged, the cost of repairing that might just be 50% of amount but the car is no longer safe and is normally declared a total loss.

My thoughts exactly. But of course, you know how theseinsurance companies are. Habang pwede kang gipitin, gigipitin ka.

[ninjababez]

Oo nga sir. Nag conslt ako sa metrobank sabi nila wala naman kaso sa kanila at papautangin daw nila ako despite the BPI thing hehe

actually lahat ng bank bro, once napasok na nila name mo sa blacklist afaik.
kung plano talaga gawain yan, kumuha kana ngayon; tsaka ka mag stop payment

[EQAddict]

Blacklist is shared with all banks. Dont think you can just jump from one bank to another.

Credit rating is very important. But your insurance compant is being idiotic. threaten to expose them in social media / rappler. Take pics of your car etc and post that your insurance company wont declare it total loss.



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[mda]

How big of a damage are we talking about din?

Pictures would help. Curious lang din ako kasi despite the big hit hanggang windshield, hindi nagdeploy yung airbags?

[kinyo]

BPI-MS ... di ba meron thread dito horror story ng insurance na yan?

siguro kailangan na ni ts ng abogado

good luck po

[cast_no_shadow]

Yes sir, talo na talaga ako ng 500k. Damage control na lang. I guess mas ok na yun kesa nagpalibing ako ng driver o nagsustento sa baldado. Kikitain naman uli yung pera.

Re: credit rating, as far as BPI is concerned lang naman po yun diba? Meron po ba universal na credit rating sa Pinas gaya sa ibang bansa? Thanks po as response.

Nope, you can check CMAP banks, lending and other types of corporation kasali dyan.

May system to check a person for that.

Like you said kikitain mo naman yung pera, but a bad credit rating will scar you for a long time.



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[cast_no_shadow]

May car kami before total loss din under BPI MS inabot din 7 months yung proseso.

Matagal talaga, lahat i-dismantle akala mo okay na then may susulpot nanaman sa issue dagdag nanaman sa estimate, check nanaman ni adjuster then repeat again.

Nagka issue pa kame kasi from the incident na madaling araw dinala na namen sa casa outright at iniwan dun. Akala namin dun na gagawin, mataas quote ni casa antagal nila nag haggle ni BPIMS ang ending i-pull out ko daw at dalhin sa accredited shop kaya nilipat ko sa wheels sa e rodriguez. Etong casa sinisingil kami storage fee eh weeks din natengga yung sasakyan sa kanila.

Pinabayaran ko kay BPIMS


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[markvilla21]

actually lahat ng bank bro, once napasok na nila name mo sa blacklist afaik.
kung plano talaga gawain yan, kumuha kana ngayon; tsaka ka mag stop payment

Sige sir. Antayin ko muna BPI MS. Hopefully TL na talaga. Sa tooo lang wala naman talaga akong kagustuhan na pareposess ang sasakyan as much as possible.

[markvilla21]

Blacklist is shared with all banks. Dont think you can just jump from one bank to another.

Credit rating is very important. But your insurance compant is being idiotic. threaten to expose them in social media / rappler. Take pics of your car etc and post that your insurance company wont declare it total loss.



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Thanks, sir. Nobody wants a negative bank record for sure. Hopefully they come to their senses. I would also hate to badmouth them as much as possible, but if they insist on being that way...Let's just say my business is in the PR industry. They will hear from us on social media and they'll see our reviews all over Google anytime they search their brand name.

[markvilla21]

How big of a damage are we talking about din?

Pictures would help. Curious lang din ako kasi despite the big hit hanggang windshield, hindi nagdeploy yung airbags?

Picturan ko pag napadaan ako sa Ford mamaya sir. Personally di ko masyado tinitignan medyo mabigat sa loob.

[markvilla21]

BPI-MS ... di ba meron thread dito horror story ng insurance na yan?

siguro kailangan na ni ts ng abogado

good luck po

Yes po. Nirereview na ng lawyer namin yung loan contract.

[markvilla21]

Grabe. Sorry to hear sir. Bracing na din ako for worst case scenaio.

Ako na lang siguro babaldado sa driver namin... :D

May car kami before total loss din under BPI MS inabot din 7 months yung proseso.

Matagal talaga, lahat i-dismantle akala mo okay na then may susulpot nanaman sa issue dagdag nanaman sa estimate, check nanaman ni adjuster then repeat again.

Nagka issue pa kame kasi from the incident na madaling araw dinala na namen sa casa outright at iniwan dun. Akala namin dun na gagawin, mataas quote ni casa antagal nila nag haggle ni BPIMS ang ending i-pull out ko daw at dalhin sa accredited shop kaya nilipat ko sa wheels sa e rodriguez. Etong casa sinisingil kami storage fee eh weeks din natengga yung sasakyan sa kanila.

Pinabayaran ko kay BPIMS


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