Cancelling lease car contract before it starts

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Thu 14 Jan 2016 11:52
Cancelling lease car contract before it starts - jenny786

My current car is very old and in dire need of replacing, I thought it would be better to lease a car instead and re-evaluate in a few years to see if I were better of buying. So I got a good deal through Lings but now I have been made redundant.

I contacted Ling to see if I could get out of it and although I have signed her contract only and not the finance company's she said I would need to pay £500 because it is a factory built car and there was no way out of it.

I wish I could keep the contract but so many things have happened and I don't think I could afford it anymore, does this sound resaonable, is there any way I could get out of paying or get it lower?

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Thu 14 Jan 2016 12:05
Cancelling lease car contract before it starts - TedCrilly

" I have signed her contract only"

What does the small print say with regard to cancellations? If she has incurred significant costs as part of the process is it not unreasonable for her to pass them on to you if you back out?

Maybe a visit to the CAB or a Solicitor for advice?

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Thu 14 Jan 2016 12:27
Cancelling lease car contract before it starts - brignac

You should have a 14 day cooling off period - are you inside that?

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Thu 14 Jan 2016 12:39
Cancelling lease car contract before it starts - Bromptonaut

CAB consumer advice line:

03454 04 05 06

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Thu 14 Jan 2016 12:40
Cancelling lease car contract before it starts - TedCrilly

May also be subject to a cancellation fee. You need to get the paperwork looked at by someone who knows what they are talking about.

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Thu 14 Jan 2016 12:57
Cancelling lease car contract before it starts - slkfanboy

I think the basic point is that you have told the finance company you will not be able to afford the finance due to your change of circomstance. The code of practice states it's lenders responsibility to ensure the loan is affordable, therefore they have no option but to withdraw the finance offer!

I would suggest that you write to the company expaining the situation and inform the dealer too. I can't see in this situation you being charged anything and tecnically you should get your deposit back.

I suspect you will have a fight on your hands in practice trying to get your deposit back, worth asking thu.

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Thu 14 Jan 2016 13:21
Cancelling lease car contract before it starts - oldroverboy.

It is up to the dealer to decide if they want to make the goodwill gesture for you.

Ask to see the Dealer Principal and explain AND show proof that it WAS redundancy and unexpected. Having seen this in other retail areas on special orders, there is the possibility that the dealer may relent expecially if the vehicle falls into the easily re-saleable. If so ask the manufacturer if they could assist.

Life can change very unexpectedly and the vast majority of people and companies would not wish to kick someone when they are down.

Do let us know how it goes,

just a question, what car and what spec difference from a standard order.

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Thu 14 Jan 2016 13:35
Cancelling lease car contract before it starts - oldroverboy.

Apologies to all for previous comments about seeking to see dealer principal, Lings is the (in)famous ex Dragons den website (she turned THEM down) that will successfully defeat adblock and any sort of popup blocker.

Advice do not look.

There, am sure everyone will now...

Not a leasing company in the drive the deal genre.

OP has very little chance of getting anything back after looking at the t&cs of said website, but a couple of minutes of looking at the site has made sure i'll never look again,

AND Ms Ling claims to be very successful!

Caveat Emptor. Cave quid vis, ut iustus adepto eam

Edited by oldroverboy. on 14/01/2016 at 13:43

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