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What happens if I don’t have a waiver of depreciation, an OEF 19, or an OEF 19A?

April 26, 2017depreciation don’t happens oef waiver

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What happens if I don’t have a waiver of depreciation, an OEF 19, or an OEF 19A?

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A. In the event of a total loss or when determining whether the car is written off or not, the underwriter will offer you ACV, which means Actual Cash Value. This is not to the advantage of the consumer since the ACV usually is significantly less than the replacement value of the car.