Volantry termination. Tax insurance and finance payments

[Guest]

Hi hope you can advise I'm going to submit a vt to blue motor finance I have just been speaking on the phone to them and I have been advised that I need to keep it taxed, insured and keep paying finance payments until the car is collected and it also needs to have a valid mot can you please advise

[ostell]

No you don't need to keep making payments, you have VTed the car so there is no contract to pay in existence now. The rest is up to you. Best to keep insurance up just in case the car gets damaged.

[Gareth182002]

So once I have made at least half the payments I can vt the car what happens if the car is damaged in any way can they refuse the vt

[ostell]

So you haven't actually VTed yet?

There is a VT template in the Shortcuts panel on this page.

if the car is damaged they can charge you for it

[Gareth182002]

No not yet but I will be kn January
and cool I will have a look at those templates

[Gareth182002]

Give so I have finally vted my car I have recieved a letter stating I have not reached the half way point and need to pay an outstanding liability of £833.46 which is in correct I have reached the halfway point stated on my aggrement but I did a payment defferal due to covid and extended my finance aggrement by 3 months bmf state that its arrears and I dont think it is

[Gareth182002]

rob hi can you please advise

[R0b]

Can you post up a letter, redacting your personal information?

Need to understand if they are actually rejecting your position that you have paid one half of the total price.

[Gareth182002]

Hi please see attached image rob

[Gareth182002]

Hi just had a call to say they are collecting the car wednesday so it would seem they have accepted the vt

[Gareth182002]

Hi rob have you had a chance to look at the letter

[R0b]

Well the letter as I read it suggests you haven't met the 50% threshold not that the amount is an overdue payment. To be honest, as far as I see it, any deferred payment does not make it an overdue debt rather it is an arrangement i.e. a variation to the original agreement.

If you're saying that you have met this threshold then I would write back to them and refer to the letter suggesting you've not paid one half of the total price and correct them saying you have so you don't consider this amount to be owed.

[Gareth182002]

Yeah cool I 2ill do that and thank you I will get back to you with a response

[Gareth182002]

Hi rob this is there reply
Good afternoon,

Thank you for your email.


Your liability of £833.46 is due to the 3 month payment deferral you had in 2020.
Kind regards,


Kyra Kempton
Collections Account Manager

[R0b]

So when you deferred the 3. months worth of payments were they already outstanding payments or did you defer before the instalments became due?