Finance Settlement

Finance Settlement Service

A shortfall balance between a vehicle’s residual value and the finance settlement value can cause significant delays in the total loss claims process, preventing a salvage vehicle being cleared for sale. Typically, multiple parties, including insurer, broker, policyholder and finance provider are required to communicate and agree the way forward. Outsourcing the process to e2e’s Finance Settlement Service avoids unnecessary delays by acting as the central point of contact for all parties and liaising directly between the policyholder and finance company to negotiate and settle vehicle valuation and finance. e2e then notifies the insurer of the finance settlement and places a clearance request ready for the vehicle to be sold.

6 Steps

1 - Finance marker identified.

2 - Policyholder contacted to authorise e2e to discuss finance on their behalf.

3 - Finance marker identified.

4 - In the event of a shortfall balance, e2e will arbitrate on behalf of the policyholder.

5 - Settlement value agreed.

6 - Insurer notified of finance settlement.