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Motor Insurance after PCP Plan Ended but car not collected due to Covid-19 disruption

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edfle66edfle66 Forumite
1 posts
MoneySaving Newbie
My PCP agreement ended on 31/05/2020 and I have elected to hardback the car to the finance company. They have told me that I am obliged to keep the car insured until they can arrange for collection by their agent. Since I am no longer the registered owner this doesn't seem right. Am I legally required to keep the vehicle insured until the agent can collect the vehicle? I have renewed the road tax at their request as they have stated a full refund will be provided but there is no mention of refunding insurance premiums for the period since the PCP end date.

Replies

  • SandtreeSandtree Forumite
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    There is no registered owners of cars, just registered keepers. Were you on the V5c for the car? Has it been sent off to change it to the finance company or whoever they've said?

    In the old days if the car was on the public highway it had to have insurance, if it wasn't on the public highway and you had no insurance then you would do a SORN declaration and not have to pay tax on the car. When tax discs were abolished the laws changed somewhat and I cannot remember for definite if you can have the car off the public highway, with tax but no insurance or not. Certainly if its parked on the road etc then there must be insurance on it.
  • TELLIT01TELLIT01 Forumite
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    If you can park it off road then do so and SORN it.
  • daveyjpdaveyjp Forumite
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    Ask them where this is stated in your paperwork.

    BMW were advising PCP customers very early on in lockdown that there was no need to insure at end of the contract as long as the vehicle was parked on private land and secure.
  • SandtreeSandtree Forumite
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    daveyjp said:
    Ask them where this is stated in your paperwork.

    BMW were advising PCP customers very early on in lockdown that there was no need to insure at end of the contract as long as the vehicle was parked on private land and secure.
    I would however have thought the contract states that you are liable for the vehicle until it is collected and so whilst its legal to SORN the vehicle if it was damaged in a fire or stolen etc then you'd still be responsible for the damage as it was still in your possession 
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