Join Date: Jun 2010
Location: United Kingdom
Done this twice now, make sure you get the right value for your car, ie market value, then agree the buy back level, this will probably be about 20% I think. This is variable though so make sure you haggle and get the value you feel is right. One car I broke for parts and got some decent money back. The other one was sold on for spares or repairs.
Do some sums, look at all options, then work out how it best works out and go for it. Remember it is your car until agreements are finalised, even better if it is still in your possession. Some insurance companies will try and put you off this route so stick to your guns and don't let them put you off.