Private insolvency: car

adminonJune 27, 2022February 11, 2022Leave a Comment

Does the car become part of the insolvency estate in the event of private insolvency?? If you are faced with the decision of whether to enter into consumer insolvency in order to receive a discharge of the remaining debt after the good conduct period, there is often uncertainty about what the situation with the car actually looks like. There are clear rules on whether and when it can be repossessed or seized.

You have financed your car

Your vehicle is financed and the car financing is not yet completed? In this case, the seizure protection does not apply and it plays an important role in the debt analysis. In this case the bank is your creditor. This means that the trustee will contact the bank and inform it that insolvency is planned. The bank will cancel the financing. The car must be sold. The proceeds from the sale will be transferred to the insolvency estate.

Last resort from private insolvency?

You have already paid for your car

If you have already paid for your vehicle, the value is the main factor in determining whether it cannot be seized or whether it must be included in the insolvency estate. If a vehicle is worth a lot, it is sold and the money is used to pay off the debt.

Older vehicles that no longer have such a high value can also be pledged. In this case, you have the possibility to contest the claim by providing proof. If, for example, you have a disability certificate and a car that is specially adapted to your disability, this may mean that you are allowed to keep the vehicle. If you can prove that you cannot get to work without a car, this is also a reason.

Important: the trustee may still want you to hand over the car. One solution is to pay the value of the car to the trustee and buy it from him. In some cases, it may be necessary to buy a new vehicle, which is significantly cheaper.

If you receive social benefits and you are unemployed, it is not possible to state that you need the vehicle to go to work. In this case, the trustee will demand the sale. You can only avoid this if you start a job soon and can prove that you can only reach this job with a car.

Your car is leased

You drive a leased car? This, of course, cannot be included in the insolvency estate. You must return the vehicle to the contractual partner if the latter demands that you hand it over. Sometimes it is also possible to transfer the contract to someone else, such as a member of your family.

Last resort from private insolvency?

You are buying a car in the good behavior period

If you are in this phase, you are not allowed to incur debts. If you buy a car, the price can only be paid in cash. If you make an offer to buy a cheap used car, you will usually not have any problems with the trustee.

You have a car that does not belong to you

You may be permanently driving a vehicle that you do not own because it belongs to a relative. The car then has nothing to do with the insolvency estate. However, if you are thinking about transferring your own vehicle to relatives now, before you file for bankruptcy, this can cause problems. In this case, it is possible that the trustee will determine this. It is possible that you will not receive a discharge of residual debt.

The cost of the vehicle

If you have a vehicle, then there are also costs for it. keep in mind that you only have the income available up to the non-garnishable limit. So you have to pay the insurance and taxes, pay for repairs and spare parts. In some cases, it may make more sense to decide not to use a car during the period of good conduct.

Conclusion: the car belongs to the assets

Of course it is a big change for you in case of over-indebtedness to possibly be able to do without a car. However, if you are facing personal insolvency, it does not make sense to consider whether you can possibly still protect the vehicle. Be open about the fact that you have a value with the car, which can flow into the insolvency estate. If you manage to keep the vehicle, you should be aware that you will also have to pay the additional costs for it. If you do not declare the car to the insolvency court as an object of value, you may be deprived of the right to discharge the remaining debt and continue to be trapped in debt after the period of good conduct, but not debt-free.

Information/communication systems are used for infotainment, i.e. information and entertainment. These are components for comfort and safety. The information/communication systems include the radio, speakers, navigation system, antenna and other parts that are controlled centrally.

things to know: the car information/communication system

traffic information, news and music from the radio, directions via the navigation system, hands-free this and more enables information/communication systems in the car. These components are brought together centrally in a central operating unit. Information/communication system include the car parts:

information/communication systems are electronic car parts that are part of the interior equipment. These serve to provide information and entertainment, i.e. infotainment. This enhances driving comfort and safety. Since about 2000, information/communication systems have been available almost exclusively for upper segment and upper midsize vehicles. In the meantime, these components are almost a matter of course for other car classes as well.

What are the functions of information/communication systems??

To inform and entertain is the task of the information/communication systems. Almost all systems are characterized by a basic function. These include:

Car radio,
CD player,
Hands-free system and
Navi.

The rapid pace of technological development is also reflected in vehicle infotainment systems. A few decades ago, these were only equipped with a car radio, but this is no longer sufficient by far. Information/communication systems have long been on the market that, for example, with driving assistance systems, DVD player, internet and mobile communication, offer more than the systems that only have a basic configuration.

What are the main components of information/communication systems??

Information/communication systems include several components. These include:

Control unit,
Head-unit,
Screen and
Control unit.

What is the control unit in the infortainment system?

The control unit of the information communication systems is a hardware. This contains parts such as:

A central processing unit (CPU),
Memory,
GPS receiver,
CAN-bus (controlling area network) to exchange data with other control units,
MOST bus for the transmission of audio and video signals,
SIM card to control the internet connection in the vehicle.

Information/communication systems are operated centrally via the head unit. instead of having to press several buttons, it thus increases comfort. Sometimes it is also referred to as the main unit.

Often the screen is located between the driver’s seat and the passenger seat, i.e. the center console. Visually, the monitor displays all the information/communication system data: from the radio station and volume to the temperature and navigation, i.e. guidance by the navigation system. Sometimes the system can also be operated via the monitor.

Changing the radio station, adjusting the volume of the loudspeakers, entering a new destination in the navigation system- this and more is made possible by the control elements. Quite often, these are buttons or rotary knobs located close to the monitor. Furthermore, there are often additional operating elements such as:

Buttons and switches in the center console,
Switch on the steering wheel and
Touchscreen.

What do voice assistants like casey?

At home, many people use voice assistants such as siri, alexa or google home. For the car, the german group and automotive supplier bosch developed the artificial intelligence casey, which acts on word and presses buttons or. buttons controls. ÜThe voice assistant activates and regulates the temperature in the interior, searches for the correct telephone numbers or changes the radio station, among other things.

Instead of turning knobs and pressing switches, the driver can concentrate fully on the road traffic. This increases the driving safety additionally.

What does the car radio of the information/communication systems?

News, traffic reports, music and more- the car radio provides variety and information during the car ride. Car radios differ in the way they transmit data:

RDS,
DAB and
DAB+.

car radios are predominantly RDS, i.e. a radio data system. This is capable of transmitting additional digital information on analog FM radio. The transmission rule for the reception of a digital car radio is digital audio broadcast (DAB). DAB+ stands for modern transmission in the best sound quality. DAB+ also offers a greater variety of programs and a lot of additional accompanying information.

In order to hear electrically incoming signals, they must be converted into mechanical vibrations so soundwaves- be transformed. This is exactly the task of loudspeakers. Numerous speakers are available on the market. They differ in their sound quality, power, design and size.

What is the task of the navigation system of the information/communication systems?

The navigation system has long since replaced map reading as a means of orientation. The technical system works with global positioning data (GPS), satellites or radio as well as the stored road maps. According to your specifications, such as the shortest route or the route with attractive sights, the navigation system guides you comfortably to your destination. Some also pay attention to construction sites and traffic jams. Two types are available:

Fixed and
Mobile.

The navigation system is electrically powered by the generator, i.e. the alternator.

What is the function of the information/communication systems antenna??

In simple terms, the antenna transmits and receives electromagnetic waves and converts them into a radio signal. It is a relevant component of the radio link, such as radio reception. There are several types of car antennas. These are:

Antenna rod,
Interior antennas,
Disc antennas,
Foil antennas and the
Shark antenna system.

Only older car models are equipped with a telescopic antenna. Since then, technology has had a huge impact on the design and performance of these cars. The more complex the receiving technology of the antenna, the more difficult it is to retrofit it. Increasing digitalization increases connectivity in the car. This in turn means that antennas must be extremely powerful.

What does the CD changer of the information/communication systems do??

With a CD changer, you can listen to different CDs without having to change them manually. This is especially comfortable on long car journeys. It is also safer, because you are not distracted from the current traffic situation by the change.

electric mobility: renault, nissan and mitsubishi join forces and plan billion-euro investments

Auto industry renault, nissan and mitsubishi join forces on electric car plans

Gregor Waschinski has been Handelsblatt correspondent in Berlin since May 2018, focusing on healthcare policy and pensions

Martin Kolling, Handelsblatt editor and correspondent in Tokyo. Source: private

The automaker is throwing its platforms together with those of Renault and Nissan. Source: imago images/AFLO

The automaker is merging its platforms with those of renault and nissan.

Paris, tokyo the automaker alliance of renault, nissan and mitsubishi plans to work more closely together on electric vehicles, investing some 23 billion euros over the next five years. 35 new battery-powered cars are to be developed by 2030 on the basis of five joint platforms, the companies announced on thursday.

The virtually assembled top management of the three manufacturers strove for harmony when presenting their plans – and probably wanted to send a signal in doing so. For the Japanese-French auto alliance has recently appeared rather disjointed. "three years ago, the alliance experienced a crisis unprecedented in its history because of a lack of mutual trust," renault board chairman jean-dominique senard said. "this period is now a thing of the past."

The investment volume of 23 billion euros corresponds to the sums that the three companies had already announced individually as part of their respective electric strategies. By combining their activities, they hope to get more out of money. By 2026, renault, nissan and mitsubishi want to build 80 percent of their vehicles on the basis of common platforms – the current figure is 60 percent.

With a focus on electric mobility, the French-Japanese alliance also gives itself a new vision. The strategic cooperation between renault and nissan began in the late 1990s, when the french saved the japanese company from bankruptcy. Both manufacturers were headed by carlos ghosn, who wanted to make the alliance the world’s largest carmaker by sales.

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Mitsubishi joined in 2016. One year later, ghosn achieved his goal and overtook volkswagen as new number one.

Conflict over power in the alliance

In the background, however, the conflict over dominance in the alliance always smoldered between the Japanese and the French. When ghosn came under Japanese judicial scrutiny in late 2018 over allegations of tax evasion and embezzlement, the alliance crumbled. The father of the alliance had to resign at the beginning of 2019 and later departed from house arrest in tokyo for lebanon.

Renault-Nissan-Mitsubishi wants to work more closely together again - with a focus on electric mobility. Source: Reuters

Renault-nissan-mitsubishi wants to work more closely together again – with a focus on electromobility.

Renault in particular ran into difficulties afterwards and had to be rescued in 2020 with a billion-euro loan from the government in paris. Luca de meo then initiated a tough turnaround in his now 18 months as CEO of the French company. The first phase will run until the end of 2022: "resurrection". De meo spoke of major progress in mid-January, saying that the target of reducing fixed costs by two billion euros had already been achieved last fall.

Nissan, on the other hand, currently seems to be the stronger partner. Group CEO makoto uchida announced in november a net profit for the 2021 financial year, which runs until march of this year – after two years of billion-dollar losses. Japanese media have long wondered whether the balance of power in the alliance still reflects the real significance of the groups for the alliance: with a 43.4 percent stake in nissan, renault is the dominant partner, while nissan holds only 15 percent of renault’s shares – without voting rights. The question about the shareholding ratios also came up at the virtual press meeting on thursday, but remained unanswered.

Japanese media are particularly critical of the French state’s 15.01 percent stake, which gives it a say in renault’s business decisions and potentially politicizes them.

Japanese auto expert takaki nakanishi therefore takes a critical view of the relationship, asking: "is the three-way alliance between nissan, renault and mitsubishi motors really working??" relations between the japanese and the french remain "a little frosty," to say the least". However, nakanishi believes the new plans make sense: the bundling of activities in batteries and electric cars could mean competitive advantages for the three manufacturers.

The model was one of the first electric cars on the mass market.

Nissan and renault aim to build on past successes with billion-dollar investments. In 2010, the japanese company launched the Leaf compact car, the first mass-produced model designed from the ground up as an electric car, on the global market. Renault was the first european manufacturer to launch a mass-produced small car with a lithium battery, the zoe, in 2012. But competitors like tesla and volkswagen soon took the lead in the e-car market.

Renault makes the software, nissan the batteries

The nissan leaf and the renault zoe were developed independently at the time. In the future, renault and nissan will divide the work: the french will develop the software components of the models, nissan will take care of autonomous driving and battery technology.

the japanese promise not only to replace the expensive cobalt in lithium-ion batteries and thus reduce battery costs by 65 percent to 75 dollars per kilowatt hour (kwh) by 2028, but also to reduce the cost of the battery by 2050. Nissan is also working on solid state batteries. Not only do they store significantly more energy than lithium-ion batteries, they also charge faster. Nissan plans to mass-produce them starting in 2028.