PCP & DVLA notifiable illness

[KATHRYN]

Good afternoon.I have been unable to drive, advisory atm since last Nov 2016 I bought a new car on PCP March 2016 using approx 3K equity/trade in from my old car. The car has just done a tad over 1K miles and has been sat on my drive since. apart from the OH taking it out for a quick spin to void everything ceasing up! I am having more tests this week which could give the definative diagnosis which may involve me having to surrender my licence on medical grounds….if this is the case how do I stand on returning the car? do I still have to VT the finance and if this is so if I haven’t reached the 50% mark will I still have to keep paying until I have( with comp Ins & PCP nearly costing me 200.00pm so I have paid nearly 2k for the having the car sat on the drive :(

[Stuart Masson]

Hi Kathryn. Unfortunately, your PCP agreement probably does not have any provision for you being unable to drive for medical (or any other) reasons. You can contact the finance company to discuss alternative repayment options if you are struggling to make your monthly payments, but ultimately the VT rules remain the same and you have to pay (or have already paid) 50% of the total amount payable until you can VT the agreement.

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