Purchasing Hail Damage Cars
It has come to our attention that people are using the recent hailstorms in Sydney to profit from buying back their own vehicle. On the surface, it seems great - get payed out and buy your own that was written off for a cheaper price.
The only issue is, once you have the car written off by the insurance company and sent back to auctions, your car is also out of rego! By being out of rego, you have pulled another stone onto your foot. You cannot drive the vehicle to a repairer to have it repaired! And trust me, once repairers realise this, they are not going to come and give a quotation for a car that has been written off - in other words the cost of repair is likely beyond the value of that car! Furthermore, a "licensed repairer" must be willing to provide the evidence on an invoice for the RMS to approve it. There are fees associated with the blue slip and also the auction fees!
I would suggest that those who have been caught in this trap to report this to the ACCC and Fair Trading. It is bad practice and should not be encouraged by the insurance companies doing this!
Remember, repairable write-offs can only be in possession of the original owner and cannot be sold to another buyer! So are stuck with a vehicle parked at a location and can only be trucked away until you find someone to repair it.
The best way to negotiate buying back your vehicle is to do it whilst still in your possession. Buy it back from them whilst you still have it registered UNDER YOUR Name.