My car was written off will taking my BOI mortgage savings account be wise?

[startender]

I'm now stuck without a car and unable to get to work about a month ago I was in a rear-end car accident where another driver crashed into my vehicle and he was at fault. I only purchased the Car 4 months ago with the help of a small loan but now I'm back on the dreaded Irish rip-off car market.

I received a couple of hundred euros more than what I paid for the vehicle from the insurance company and have had many heated phone calls as the original offer they provided me was about 1000 euros less than I purchased while there were cars of similar spec and milage for almost 1000 euros more then I purchased on donedeal.

So having taken their offer for the write value I've to go to purchase a vehicle, unfortutuantly the body type of car I want to purchase is non-existent in Ireland these days, Everything is a big stupid SUV it seems and my insurance won't offer me insurance on anything imported.

I've the guts of a mortgage saved now which hopefully I'll get in the next 18 months. but now I'm faced with being forced to buy a car with a small amount of my savings but still.

on top of all this, it was my first car of only 4 months previously I was driving a family member's car and had just gotten off my N Plates so my insurance is going to be nuts even tho its not my fault, Ive to pay 20 euro to E toll pay zone scam cause my car got taken away with the fob in it and since I can't return it they charge you (how to kick a man while they're down).

I Fucking hate buying cars, I am a car person I hate buying my own car cause A I don't have the money for the thing I want B they don't sell it here or It costs the value of the car in VRT and C you've to deal with insurance company people who couldn't Difference between an MPV, A Estate and a Hatchback.

So basically I've four questions

- how bad will it be if I take out about 4 grand from my BOI mortgage savings account?

- how do I get my insurance to let insure an imported car

- how do not kill my mother while I've to ask for a lift to look at cars.

 

[rubyredsun]

@startender I only see three questions

 

[sfanacogdoches]

@startender Mortgage Broker here. They only look at 6 months statements so barring the fact you’re gonna be setting yourself back saving wise you’d have nothing to worry about.

Even if you were applying within 6 months and needed to buy a new car, it wouldn’t count against you for repayment capacity as it’s a once off purchase. Provided you still had enough for deposit it wouldn’t be an issue. Just hang onto receipts and documentation.

I’ve seen a lad by a Rolex in the 6 months before his mortgage, he still had enough funds for a deposit and they still gave him mortgage. Don’t be worrying

Mortgage_mate over on instagram if ya want to speak more

 

[4gzus]

@startender I definitely could be wrong but I think they go back 6-12 months of your accounts. So if it’s at least 18 months away they won’t be aware of this withdrawal.

 

[yuliette]

@4gzus 6 months 90% of the time, 9 maybe 9% of the time and 12 in very rare circumstances, never beyond that so ya

Edit: unless self employed

 

[afolabi1024]

@startender I have N plates and got insured on an imported car with no issue. It wasn't even brought up and there wasn't a difference in price that I noticed between import vs Irish car

 

[jesseyoung20]

@startender Usually you’re only asked for 6 months worth of statements so this shouldn’t be relevant by the time you go and apply

 

[roadtojericho]

@startender

I purchased while there were cars of similar spec and milage for almost 1000 euros more then I purchased on donedeal.

When I had a claim, I was offered by my insurer that they would either pay out or buy the same make and model spec privately for me. So I think you could have gotten them to pay out what was needed to get the equivalent.

 

[increasinglygrateful]

@startender There are loads of second hand cars online. You could just buy something to get you by for the next couple years. If the car you want makes life more difficult, just get another car.