PCP Ended but they wont collect the car!

Croftson61

My PCP came to an end back in March during the Lockdown period. I phoned the finance company, told them I didn't want to pay the balloon payment and asked them to collect the car. They said they were busy due to the virus but the collection company would be in contact with me soon to collect the car. In the meantime, I have to insure it and keep it MOT'd ? I offered to buy the car from them for less than the cash settlement price, they said, NO. No discounted deals. I also went and bought a new car by the way to ensure I had transport so now I have two cars.  A month later, nothing, I phoned them again, they are still busy and the car will be collected in due course. 2 Months later, I phoned them again, they are busy and the car will be collected in due course. Every time I call the finance company I am on hold for a minimum of 45 minutes at a time. Fast forward to September, I called the finance company again and they were most surprised to hear the car had not been collected but this time I said - give me the number for the collections company I will call them myself and ask for the car to be collected or I could even drop it off to them.  The person who answered the phone took my number, said someone would call me back. Of course, no one did. Now we are mid-way through October I give up on anyone ever collecting the car. I am still the registered keeper, I have the vehicle MOT'd and insured - why can't I just put it back on the road and drive it ? Anyone know the answer to this ?

Jfk1988

If it's on PCP, can't you just trade it in somewhere else and get them to settle the finance with the company? We buy any car or the like?

Assuming it's worth more than the balloon payment that is. 

chrisw

Croftson61 said:

I am still the registered keeper, I have the vehicle MOT'd and insured - why can't I just put it back on the road and drive it ? Anyone know the answer to this ?

Who said you can't use it? Why is it presently off road?

Grumpy_chap

Is the OP continuing to pay monthly for the car?

foxy-stoat

As long as your within the total mileage allowance then there is no issue if you want to drive it.  If you damage it then you will have to get it fixed before its collected.   I would re-read the terms and conditions of your agreement and see if they are asking you to do anything that is unreasonable - insuring it for 6 months after the end of the agreement and keeping it MOT'd would be unreasonable  but as we are in Covid times who knows what is unreasonable.

neilmcl

Was it a main dealer financed (new) car originally? If so I'd be tempted at driving it to your nearest main dealer and dumping it with them, obviously informing the finance provider that you're doing so.

NBLondon

Grumpy_chap said:

Is the OP continuing to pay monthly for the car?

How? If the agreement period has ended - what would they be paying?

OP
I'd write to the finance company; informing them as the agreement has ended you have no further responsibility for the vehicle and cancel the insurance.  Then send the V5 off to DVLA naming the finance company as new Registered Keeper.

You've been reasonable in attempting to deal with the collection agent.  A month delay is excessive in normal circumstances; three months for COVID.  Six months makes it their problem not yours.

Ectophile

neilmcl said:

Was it a main dealer financed (new) car originally? If so I'd be tempted at driving it to your nearest main dealer and dumping it with them, obviously informing the finance provider that you're doing so.

Why?  What would they do with it?  It's not their car - it belongs to the finance company.

neilmcl

Ectophile said:

neilmcl said:

Was it a main dealer financed (new) car originally? If so I'd be tempted at driving it to your nearest main dealer and dumping it with them, obviously informing the finance provider that you're doing so.

Why?  What would they do with it?  It's not their car - it belongs to the finance company.

If it's a manufacturer based finance deal with the likelihood that their finance guy is on site it may at least put some pressure on them to act.

macman

A threat to cancel the insurance might stir them into action, as their asset is then under threat?

neilmcl

macman said:

A threat to cancel the insurance might stir them into action, as their asset is then under threat?

Although you have a duty of care for the car whilst it's in your possession, their asset or not.