Drink Driving in December: The Shocking Stats and How it Affects Your Lease
Unfortunately the number of drink driving offences always spike in the month of December; with people making most of the Festive season and enjoying a few drinks, too many people are then taking the incredibly dangerous and illegal decision to hop in their car and drive. A 2019 study using police data obtained from a Freedom of Information request compared December drink drive data from 2017 and 2018. Incredibly, 2018 saw 4,761 drivers stopped by police who were over the limit, up from 4,092 in 2017. That is an average of 154 a day... and those are just the ones who got caught!!
It goes without saying that those who drink drive are putting their lives and other people's lives at risk, and also risking losing their licence. Whilst it is by no means the most important concern around drink drive, losing your licence when you are in a lease car can have expensive consequences.
"My car is on lease but I have lost my licence... where do I stand?"
If you lose your licence during the term of your lease you will NOT be able to simply hand the car back penalty free. Essentially you will be paying for a car that you cannot drive. The terms of your lease state that the car must be insured for the duration of the lease and you are unable to be a lease car on SORN (Statutory Off Road Notice). However, losing your licence will also void your insurance and insurance companies require you to have a licence in order for them to provide cover. Therefore, if you are unable to insure the car then you will be in breach of your lease contract.
What Option is Available?
In short, the only option available to you in terms of your lease will be handing the vehicle back through an Early Termination. This can be done by contacting your lease broker, who in turn will request an Early Termination price on your behalf. This is typically calculated as 50% of the remaining payments. Putting that into perspective, here is an example:
You have a 36 month lease paying £300 per month. You are 12 months in and lose your licence, so request an Early Termination on your lease.
24 Months remaining at £300 pm = £7,200
50% of the remaining payments = £3,600 to return your lease vehicle
Put this on top of the fines you will be paying from the courts!
Additionally, a licence is required to actually take out a lease. So you will not be able to lease another vehicle until you have your licence back.
On a lighter note, from all at Pendle Lease, have a safe and merry Christmas during these difficult times. Hopefully 2021 will be better for us all!