New VED rules and Voluntary Termination

[BULLDOGGY]

The question relates to the fact that I have purchased a new vehicle and need to sorn my old one which I am going to return to the finance company. When I have received the confirmation of Termination does the finance company become the registered keeper and if so how would I go about transporting it to an agreed pick up point with no tax on it. Should I keep the old car taxed and insured until it has been handed back and so sorn the new one (second hand cheaper)

Any help much appreciated.

[R0b]

Re: New VED rules and Voluntary Termination

To save further hassle by doing a SORN on your old vehicle, send the VT letter to the company get proof of postage of the letter. You should write in your letter to give 14 days to collect the vehicle but if you wana drop it off to them it's likely going to be an auction of their choice. Personally I wouldn't do that but your choice. Once collected you get them to counter sign the V5 and send it off, again get proof of postage of the letter in case of an issue with DVLA.

[BULLDOGGY]

Re: New VED rules and Voluntary Termination

Thanks for the quick reply, I guess if I did that I would have to sorn the new car as can only afford one on the road at once.

[wales01man]

Re: New VED rules and Voluntary Termination

If you drive ANY car even one belonging the the Company you are committing an offence same applies to insurance .Once its VT if you drive it you must be legal ,
Once its in the possession of the Company or their agents and you have paperwork to prove this you no longer need insurance and the TAX is no longer valid.

If you can get them to collect it