Tweet
Hi, newbie here. Have spent a considerable amount of time on the forum reading all the resources and advice. Absolutely blown away by the sheer volume and quality of advice from R0b , ostell and others - truly amazing. I'd be really grateful for a sense check of my intended course of action with my impending VT with Santander.
I had originally intended to VT my Volvo next month or after but, long story short, I came across a car at a price and spec that was too good to pass up - consequently, my plans have been brought forward somewhat and timescales are tighter than I would ideally have liked them to be.
The scenario:
I have put down a deposit for a new car today, this needs be delivered before the end of the month - date to be confirmed.
I owe approximately one more monthly payment + a couple of hundred £ to reach 50%.
My next payment goes out on 20th August.
I need to transfer my car insurance over when I get my new car (or maybe get seven days free insurance and delay for that week) so keeping the Volvo insured as well as the new car, for any longer, is a no-go.
I want this to go as smoothly and conflict-free as possible.
My plan - this is where I need advice as to any mistakes I may be making or if I could do things better:
I will call Santander on Monday 10th coming and pay the sum outstanding which will take me to 50% - I know I can VT without this but I'd rather this is done first.
Again on Monday 10th, I will send an email using the template here detailing my intention to VT, with immediate effect. Thankfully, Santander has a dedicated VT email address and recommend using this. Given the timescales with the next payment due 10 days later on the 20th, I will inform them that I will also be cancelling my direct debit. I will also tell them that I will maintain tax and insurance until ‘X’ date in August (delivery date of my new car) and, after that, I intend to make a SORN to the DVLA and stop insurance. I will also inform them that I can keep the Volvo on my driveway until such time that the car is collected, as long as the time required is not unreasonably long.
I'll give it a couple of days to chase up the VT and this will also ensure that sufficient time has passed for my payment to be processed. I will chase with email and phone calls, if necessary.
I intend to change registered keeper online, on the day of the Volvo being collected.
I know I'm likely to have two cars on my drive (three in total, actually) for a wee while and although I don't like the concept very much, I can live with it for a period. I'd love to have just made my monthly payment and have more time, up to a month, but the situation hasn't played out like that.
Am I asking for trouble with this course of action, given my timescales? The main concern I have is that they will attempt to take payment on the 20th August to the detriment of my credit score. I'm also unsure about whether there is a better way to go about this given that I need to transfer my insurance from Volvo to the new car very soon.
Any and all advice or thoughts very, very gratefully received!
I had originally intended to VT my Volvo next month or after but, long story short, I came across a car at a price and spec that was too good to pass up - consequently, my plans have been brought forward somewhat and timescales are tighter than I would ideally have liked them to be.
The scenario:
I have put down a deposit for a new car today, this needs be delivered before the end of the month - date to be confirmed.
I owe approximately one more monthly payment + a couple of hundred £ to reach 50%.
My next payment goes out on 20th August.
I need to transfer my car insurance over when I get my new car (or maybe get seven days free insurance and delay for that week) so keeping the Volvo insured as well as the new car, for any longer, is a no-go.
I want this to go as smoothly and conflict-free as possible.
My plan - this is where I need advice as to any mistakes I may be making or if I could do things better:
I will call Santander on Monday 10th coming and pay the sum outstanding which will take me to 50% - I know I can VT without this but I'd rather this is done first.
Again on Monday 10th, I will send an email using the template here detailing my intention to VT, with immediate effect. Thankfully, Santander has a dedicated VT email address and recommend using this. Given the timescales with the next payment due 10 days later on the 20th, I will inform them that I will also be cancelling my direct debit. I will also tell them that I will maintain tax and insurance until ‘X’ date in August (delivery date of my new car) and, after that, I intend to make a SORN to the DVLA and stop insurance. I will also inform them that I can keep the Volvo on my driveway until such time that the car is collected, as long as the time required is not unreasonably long.
I'll give it a couple of days to chase up the VT and this will also ensure that sufficient time has passed for my payment to be processed. I will chase with email and phone calls, if necessary.
I intend to change registered keeper online, on the day of the Volvo being collected.
I know I'm likely to have two cars on my drive (three in total, actually) for a wee while and although I don't like the concept very much, I can live with it for a period. I'd love to have just made my monthly payment and have more time, up to a month, but the situation hasn't played out like that.
Am I asking for trouble with this course of action, given my timescales? The main concern I have is that they will attempt to take payment on the 20th August to the detriment of my credit score. I'm also unsure about whether there is a better way to go about this given that I need to transfer my insurance from Volvo to the new car very soon.
Any and all advice or thoughts very, very gratefully received!
