Car finance deal - possible need for termination due to illness query

[Bolto6]

My dad just gave us his car, and DH’s car that was on PCP finance we just gave it back to the finance company. As long as it’s more than 50% paid for then you can do that. You won’t get any money back, but as long as there’s nothing wrong with the car you’ll have nothing to pay.

Everything you need will be in the paperwork for the finance.

[danisleigh]

You can drive a month after a stroke if all is well so fingers crossed that happens for your dad.
Otherwise as above if you are 50% of the way through you can hand it back. We had to do this once as DH got a company car and we were not quite halfway so we paid the payments up to halfway and handed it back.

[Ellelledee]

Originally Posted by Bolto6

My dad just gave us his car, and DH’s car that was on PCP finance we just gave it back to the finance company. As long as it’s more than 50% paid for then you can do that. You won’t get any money back, but as long as there’s nothing wrong with the car you’ll have nothing to pay.

Everything you need will be in the paperwork for the finance.

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I wondered about this. This is what I said to DH - if he can’t use the car and has medical proof (if they say he can’t use the car at all) then can we not contact the finance company and just give the car back? Dh said no because if people just decided they didn’t want the car anymore they could do that and just walk away from a finance deal but surely there is a clause in there for medical grounds.
As I said we don’t even know yet - he is still waiting for further tests it was just something I thought of last night.
Once again thanks for all your kind words.

[Taffy1959]

From what I can remember (32 years ago) when my dad had a stroke he was driving again after about a month.
He didn’t have a major stroke though and recovered quite quickly.
Best wishes to your dad and hope he makes a full recovery x

[BevS97]

It depends on the type of finance. But if you can’t hand the car in you could sell it to cover the finance.

[parisdisneyfan]

Originally Posted by Ellelledee

I wondered about this. This is what I said to DH - if he can’t use the car and has medical proof (if they say he can’t use the car at all) then can we not contact the finance company and just give the car back? Dh said no because if people just decided they didn’t want the car anymore they could do that and just walk away from a finance deal but surely there is a clause in there for medical grounds.
As I said we don’t even know yet - he is still waiting for further tests it was just something I thought of last night.
Once again thanks for all your kind words.

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First of all, best wishes for your Dad, no experience of strokes but hope he recovers well.

There are lots of google articles on various money sites regarding car finance. While I don't know what the situation is regarding medical reasons, I know that once you have paid more than 50% of the invoice cost then you can just hand it back with no reason and no penalty. We did this last year with dh car as it was costing us £500 a month just to sit on the drive! We had had it for 3 1/2 years on a pcp but we weren't going to buy it at the end as the balloon payment was more than it would be worth. We just phoned up and they arranged to collect it. The people who collected it checked it over and it was in good condition so they just took it!

I guess at the moment if your dad can afford the payments it might be better to keep it and just declare it SORN off road on the tax and just fire and theft on the insurance to save some money - assuming you have somewhere to keep it off the road. Good luck with sorting it all x

[returnplanning]

Here is the advice from the DVLA about driving and stroke
gov.uk/stroke-and-driving

Hope this helps.