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Voluntarily Terminating Car Finance

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  • Voluntarily Terminating Car Finance

    Hi guys just looking for some help before I go ahead and VT my car finance with Motonovo Finance.

    I am one payment away from paying off half of my car finance to make me eligible to terminate, I am just needing some advice on a few things before I go ahead.

    My car insurance has ran out and I am not renewing it for one month since I have another car I can get use of anyways. So since it is just sitting in my driveway I have cancelled my car tax too. Where does this leave me with the termination as I haven't seen anything that tells me my car must be on the road when I VT?

    The car is a 2014 plate and has only done 24k miles and is in very good condition although I have stupidly never had it serviced so am worrying this gives the finance company a reason to try and charge me for damage etc even though the car is in perfect condition and drives perfectly?!

    Any advice/point me in the right direction will be appreciated!

    Cheers, James
    Tags: None

  • #2
    Re: Voluntarily Terminating Car Finance

    Have you SORNed the car? Without tax or insurance you could be getting a nasty little letter from the DVLA with notification of a fine.

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    • #3
      Re: Voluntarily Terminating Car Finance

      Yes I have SORNed it, should have said that in my original post.

      Comment

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