CORONAVIRUS (COVID 19)
​​​​​​​ADDITIONAL SUPPORT

Is this your first payment holiday? Do you need a payment holiday for one month only?  
If you log into your online account* and select ‘Change Payment Date’, you can move your payment date by up to 30 days. If you have changed your payment date before, you will not be able to make the request online. You will need to call us on 0344 8248888

Is this your first payment holiday? Do you need a payment holiday for 3 months?
  
If you log into your online account*, you can follow the instructions on the home page to request a 3 month payment holiday.  

If you have had a payment holiday for 3 months or more and you cannot restart your payments, you may be able to extend your payment holiday to up to 6 months.  

Your payment holiday can be extended by one month at a time. This will include the Payment Holidays that you have taken so far. 
If you log into your account*, you can follow the instructions on the home page to make your request. Please make your request at least 5 working days before your next payment is due, or your payment holiday may not be processed. 

If you need to extend your Payment Holiday again, you need to do this at least 8 days before your payments are due to restart.
You can do this by logging into your online account or calling us, up to a maximum of 6 months in total. 
If you do not ask us to extend your Payment Holiday again, we will assume that you can start making your payments. 
*If you are a business, you may not be able to use our online service. If you are unable to use the online service, call us on 0344 8248888

Before extending your payment holiday, you should think about whether you can start your payments again. When you take a payment holiday, you pay more overall as you take longer to pay back the amount borrowed. The longer your payment holiday, the more you pay. You may also incur extra vehicle related costs if you keep the vehicle for longer. 

If you have had a payment holiday for 6 months and you cannot restart your payments, contact us on 0800 1512454 to discuss your options. 

Are your money worries longer term? 
A payment holiday can help if you need to take a short break from making your payment. This may be due to a short term loss of or reduction in your income or your household income. If your money worries are longer term, please call us on 0800 151 2454 so we can discuss if a payment holiday is right for you 
To ensure we can give you the best support when you call us, please get all details of your income and expenditure ready before you call. This may include wage slips, bills and bank statements. 

If your payment is due within 5 days, you will not be able to have a payment holiday for this payment: 
  • If you can make the payment, you can come back and request a payment holiday for your next payment.  
  • If you cannot make the payment, you can stop it by speaking to your bank and asking them not to pay the Direct Debit. You will then need to call us on 0344 8248888 so that we can discuss your options with you.  We may able to back date your payment holiday to cover your missed payment. 
If you are more than two payments behind, you may not be able to have a payment holiday. Please call us on 0800 1512454 so that we can discuss other ways that we can help. 
A payment holiday can help if you need to take a short break from making your payments. This may be due to a short term loss of or reduction in your income or your household income. If you are concerned the impact may be longer term, a payment holiday may not be right for you. Please call us on 0800 151 2454 so that we can discuss other options to help you.  
If you defer your payments by 3 months, you will not make any payments for 3 months. If you defer your payments by 6 months, you will not make any payments for 6 months. 
You will pay more overall as you take longer to pay back the amount borrowed. We will work out how much extra you will need to pay and we will add this to your agreement.   
We will work out how much is due by using the interest rate shown in your agreement. The extra amount will not be more than £100 for each month that we defer your payments. This means if you defer your payments by 3 months, the extra amount will not be more than £300. If you defer your payments by 6 months, the extra amount will not be more than £600. 
You will be asked to pay the extra amount the month after your final payment is due by making additional monthly payments. If the amount is more than your monthly payment, it will be split over a number of months. This means that you will not pay more than your normal monthly payment each month. 
You do not need to ask your bank to make any changes to your direct debit. We will take care of this for you. 
You can take an initial payment holiday of up to 3 months. If your payment holiday has come to an end before 31 October 2020 and you cannot restart your payments, you can extend your Payment Holiday to up to 6 months. You will need to extend your Payment Holiday one month at a time. This means that you only take a break from your payments for as long as you need.  
  • A Payment Holiday will not show as missed payments on your credit file but lenders may take it into account when making future lending decisions. You should keep in mind that lenders may use other sources of information when they make a decision to lend to you in the future. 
We will defer your payments one month at a time. Each month you will receive a letter confirming your next payment date has been moved by one month. This letter will tell you how much you will pay each time we defer your payments. You will need to add up the amount shown in each of the letters to work out the extra amount that you will pay overall.
You will pay more overall as you will take longer to pay back the amount borrowed.  
You may have to pay other costs if you extend your Payment Holiday.  
  • If you keep your vehicle for longer, you will need to pay for your insurance and road tax for longer.  
  • If you have a warranty or breakdown cover, it may not cover you for the extended time that you will have the vehicle. You may also need to pay for an additional MOT or service. 
  • The value of the vehicle will reduce over time.  As you take longer to pay back the finance, the vehicle may be worth less than the outstanding balance. 
  • If you have a PCP finance agreement, your maximum permitted mileage will stay the same.  If you hand your vehicle back and you have exceeded the permitted mileage, you will be charged for excess miles.  
If you have missed up to 2 payments, you can still ask for a 3 month or more payment holiday. 
  • If your missed payments relate to payments that were due in or after March 2020, you may be able to include these in your payment holiday.   Please call us on 0800 151 2454 so that we can arrange this for you. 
  • If your missed payments relate to payments that were due before March 2020 and you have not yet spoken to us about the missed payments, call us on 0800 151 2454 so that we can discuss your options. 
A payment holiday can help if you need to take a short break from making your payment. This may be due to a short term loss of or reduction in your income or your household income. If your money worries are longer term, please call us on 0800 151 2454 so we can discuss if a payment holiday is right for you. 
  • When your payment holiday ends you will restart your monthly payments. Your monthly payment will be for the same amount as before your payment holiday. 
  • If you have been charged an extra interest amount for taking a payment holiday, you will not pay this until after your last payment. If the extra interest amount is more than your monthly payment, it will be split over a number of months. This means that you will not pay more than your normal monthly payment each month.
  • The due date for your monthly payments will likely have changed as a result of taking a payment holiday. You will have received a letter from us telling you the new payment date. You can also check your payment due date by logging into your online account* and checking the ‘My account’ screen.
  • If you cancelled your Direct Debit, please reinstate it before your monthly payments are due to restart. You can do this by logging into your online account* and selecting 'Update bank details’. You will then need to enter your sort code and account number. You will need to reinstate your Direct Debit at least 8 working days before your next payment is due.
  • If it is too late to reset your Direct Debit for when your payments restart, you can make a payment by debit card using the “Make a payment’ option in your online account.
  • If you are unsure whether you cancelled your Direct Debit, you can check if it is still active with your bank. You should be able to find this information on your bank’s online banking or mobile banking app. If not, you will need to call your bank.
*If you are a business, you may not be able to use our online service. If you are unable to use the online service, call us on 0344 8248888
If you cannot restart your payments, you can extend your payment holiday to up to 6 months. See the information in the ‘How to ask for a payment holiday online’ section. 
Before extending your payment holiday, you should think about whether you can start your payments again. When you take a payment holiday, you pay more overall as you take longer to pay back the amount borrowed. The longer your payment holiday, the more you pay. You may also incur extra vehicle related costs if you keep the vehicle for longer.  
If your money worries are longer term, please call us on 0800 151 2454 so we can discuss if extending your payment holiday is right for you.   
If you have taken a 6 month payment holiday and you are not able to restart your payments, call us on 0800 151 2454 to discuss your options.  
To ensure we can give you the best support when you call us, please get all details of your income and expenditure ready before you call. This may include wage slips, bills and bank statements.
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 0344 8248888 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 may be a delay as the company that collects vehicles is working hard to arrange collections now that their services have restarted. 
If your end of contract date is more than 28 days away, you do not need to take any action at the moment. Please come back to 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 negative impact on your credit file.
  • You must stop using the vehicle with effect from your end of contract date. This is the due date for your optional final 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 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. You will also have to pay any charges that may be due for damage to the vehicle other than fair wear and tear.  We will contact you about any charges that may be due AFTER the vehicle has been collected.
We are sorry we have not been able to collect your vehicle yet. The company that collects vehicles for us is working hard to keep your wait to a minimum now that their services have restarted.  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 with effect from your end of contract date.
  • This is the due date for your optional final 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 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. You will also have to pay any charges that may be due for damage to the vehicle other than fair wear and tear.  We will contact you about any charges that may be due AFTER the vehicle has been collected.
We are sorry we have not been able to collect your vehicle yet. The company that collects vehicles for us is working hard to keep your wait to a minimum now that their services have restarted.  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 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.
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 further 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 receiving a very high number of calls and emails at present so it may take us a few days to call back.
We ask that you ensure the vehicle is maintained in accordance with the manufacturer’s handbook including topping up oil, water and tyre pressures regularly.   
Please read the AA’s advice on how to look after your vehicle if you are not using it regularly.  
For diesel cars (from 2009) fitted with a Diesel Particulate Filter (DPF) please read the AA’s advice on how to maintain the performance of the DPF.
If your vehicle is registered in Northern Ireland (NI) there are plans for vehicle testing to resume on a phased basis from 20 July. As testing will initially resume in a limited capacity, the DVA will prioritise those categories of vehicles which are currently not able to avail of a Temporary Exemption Certificate (TEC) issued on vehicles where the MOT certificate expired after March 26.  Please see the MI Governments website for more information about vehicle testing: www.nidirect.gov.uk
In all other areas mandatory MOT testing is to be reintroduced from 1 August 2020. Drivers with an MOT due date before 1 August will still receive a 6-month exemption from testing. However, all vehicles must continue to be properly maintained and kept in a roadworthy condition.  You are able to voluntarily get the MOT sooner should you wish, even if your vehicle is exempt from the legal requirement.  You can read more information on the Government’s website: www.gov.uk
A number of retailers are now re-opening within Government guidelines which may now allow you to make a convenient appointment to complete your MOT.
You can change your payment date online. Select the ‘change payment date’ button. You will be shown the amount that will be due for changing your payment date. You will need to make the changes at least 5 days before your next monthly payment is due. If you are unable to process a payment date change online, you can call us on 0344 8248888
You can make a payment online. Select the ‘Make a payment’ button.  You can also make a payment by calling us on 0344 8248888 and selecting the ‘Make a payment’ option.
You can change your address online.  Select the ‘Update address’ button and you can input your new address.
You can change your bank details online. Select the ‘Update bank details’ button and you can input your new bank details.
You can obtain a settlement figure online. Select the ‘settlement figure’ button.  You can also obtain a settlement figure by calling us on 0344 8248888 and selecting the settlement figure option.
You can obtain a statement of account online. Select the ‘Request a statement’ button. 
You can update your contact details online. Select the ‘Update contact details’ button.
You can check details of your account online. You can check the balance, term, APR, last payment date and amount and your next payment date and amount.