Car leasing query

wrightyi28

Hi,

I have ordered a lease car which is due for delivery in October. My circumstances have changed and I can no longer afford the monthly cost.

What are my options here? I am out of my cooling off period and have paid their admin charge (which Im OK to loose if I can get out of taking the car)

Any advice greatly appreciated

Foxy-Stoat_3

When did you sign the agreement and what does the cancellation clause say?

wrightyi28

Ill need to check as I dont have the paperwork to hand. I have been told that the contract is not valid until I take delivery.

Foxy-Stoat_3

wrightyi28 wrote: »

Ill need to check as I dont have the paperwork to hand. I have been told that the contract is not valid until I take delivery.

Can you remember when you signed it, over 2 weeks ago? Thats the normal cooling off period for most credit agreements.

Who told you that the contract isn't valid until you take delivery??

wrightyi28

I signed it 31 Jul 2013.

The contract says "Term: A minimum period of hire of 24 months ("term") from the date when the vehicle is delivered or made available to you ("the commencement date") whether or not prior to the date of this agreement and thereafter ("the extended term") unless or until the hire is brought to an end by either party given written notice to the other or otherwise."


Im looking at a cheaper car with another company (as I know it is already built) and the guy said that its not valid until delivery has taken place. Just want to cover myself before I commit to anything.