Helping our customers during coronavirus

I'm reaching the end of my Flex car finance (PCP) contract and need to check on next steps.

Keep the vehicle

If you wish to keep the vehicle, you will need to pay the optional final payment. You can do this online or by calling us on 0333 202 7967 and selecting the ‘make a payment’ option.

Return the vehicle

If you wish to return the vehicle to us, we can arrange this for you. There will be a delay as the company that collects the vehicles for us is currently closed. You must stop using the vehicle by your end of contract date, which is the date that your optional final lump sum payment would be due.

If your end of contract date is more than 28 days away, you do not need to take any action at the moment. Please contact us when your end of contract payment date is within 28 days and we will tell you what to do.

If your end of contract date is within 28 days, you should do the following:

• Email us at Mbox-PCPReturns@lbgassetfinance.co.uk to confirm that you wish to return the vehicle. You will need to include your agreement number. We will be back in touch as soon as we can to arrange collection.
• If you have not already done so, please cancel your direct debit so that no further payments are made to us. Your agreement will be placed on hold until the vehicle is collected. You will not be charged any late payment fees. We will also ensure that there is no impact on your credit file.
• You must stop using the vehicle by your end of contract date. 
• This is the due date for your optional final lump sum payment. You will find this in the reminder letters that we sent you advising that your contract is coming to an end.
• You can cancel your motor insurance after the end of contract date. We will arrange cover for the vehicle. You must not drive the vehicle as you will not be insured to do so.
• You can apply to the DVLA to SORN the vehicle so that you do not have to continue paying road tax. Usually, if you SORN a vehicle, it must be kept off a public road. The DVLA has confirmed that this is still the case but they may consider taking a more lenient approach if they think it is right to do so.
• You will need to keep the vehicle safe and in your possession until we collect it. We do ask that you ensure the vehicle is maintained. Please top up oil and water levels when needed and start the engine and let it run for 15 minutes each week.
• You will still have to pay any charges that may be due if you have exceeded the mileage allowance. You will find your mileage allowance and excess mileage rate on your agreement. We will contact you about any charges that may be due after the vehicle has been collected.

I am waiting for my vehicle to be collected and don't know what is happening.

We are sorry but we will not be able to collect the vehicle yet. The company that collects vehicles for us is currently closed. We will be back in touch as soon as we can to arrange collection.

We understand you may have some questions about what this means for you in the meantime so we have provided more information below:

• If you have not already done so, please cancel your direct debit so that no further payments are made to us. Your agreement will be placed on hold until the vehicle is collected. You will not be charged any late payment fees. We will also ensure that there is no impact on your credit file.
• You must stop using the vehicle by your end of contract date.
• This is the due date for your optional final lump sum payment. You will find this in the reminder letters that we sent you advising that your contract is coming to an end.
• You can cancel your motor insurance after the end of contract date. We will arrange cover for the vehicle. You must not drive the vehicle as you will not be insured to do so.
• You can apply to the DVLA to SORN the vehicle so that you do not have to continue paying road tax. Usually, if you SORN a vehicle, it must be kept off a public road. The DVLA has confirmed that this is still the case but they may consider taking a more lenient approach if they think it is right to do so.
• You will need to keep the vehicle safe and in your possession until we collect it. We do ask that you ensure the vehicle is maintained. Please top up oil and water levels when needed and start the engine and let it run for 15 minutes each week.
• You will still have to pay any charges that may be due if you have exceeded the mileage allowance. You will find your mileage allowance and excess mileage rate on your agreement. We will contact you about any charges that may be due after the vehicle has been collected.

Voluntary termination - I am waiting for my vehicle to be collected and don't know what is happening

We are sorry but we will not be able to collect the vehicle yet. The company that collects vehicles for us is currently closed. We will be back in touch as soon as we can to arrange collection.

We understand you may have some questions about what this means for you in the meantime so we have provided more information below:

• If you have not already done so, please cancel your direct debit so that no further payments are made to us. Your agreement will be placed on hold until the vehicle is collected. You will not be charged any late payment fees. We will also ensure that there is no negative impact on your credit file.
• You must stop using the vehicle now.
• As you will not be using the vehicle, you can cancel your motor insurance. We will arrange cover for the vehicle. You must not drive the vehicle as you will not be insured to do so.
• You can apply to the DVLA to SORN the vehicle so that you do not have to continue paying road tax. Usually, if you SORN a vehicle, it must be kept off a public road. The DVLA has confirmed that this is still the case but they may consider taking a more lenient approach if they think it is right to do so.
• You will need to keep the vehicle safe and in your possession until we collect it. We do ask that you ensure the vehicle is maintained. Please top up oil and water levels when needed and start the engine and let it run for 15 minutes each week.
• When you told us that you wanted to terminate your agreement, we wrote to you explaining how this works. In this letter, we explained if a further sum would need to be paid. If a further sum is due, you should pay this as soon as you can as it became due when we terminated your agreement. If you do not pay this sum, we will contact you after we have collected the vehicle to discuss how you can pay it.

I want to exercise my right to terminate my agreement.

If your income has been impacted by coronavirus, we have a range of options to help you. We may be able to give you a payment holiday or offer you other help if you need it to give you time to get back on your feet. See the payment holidays section above for more information.

If you want to end your agreement and return the vehicle, please send an email to Collections.VTMailbox@lbgassetfinance.co.uk. You will need to include your agreement number and a telephone number so that we can call you back. We will call you back as soon as we can to explain how this works. We are currently receiving a very high number of calls and emails so it may take us a few days to call you back.

I am not using my vehicle due to coronavirus and want to know how to maintain it.

Please see the advice from the AA on how to look after your vehicle if you are not using it regularly.

I cannot get my vehicle to a garage for MOT.

You don’t need to worry about this. The Government has agreed a 6 month extension for MOTs so you can continue to use the vehicle as long as it is in a roadworthy condition.