Leasing Company Issues

Gonul

Does anyone know if a leasing company is obliged to write to you to remind you of the fact that your hire agreement is coming to an end and to ask if you want to end the contract or continue with the secondary rental? We took out a hire agreement for some goods for our business and the finance company we used, Tower Leasing, didn't do this, so consequently, they carried on taking the monthly instalments from out bank resulting in an overpayment of about £5,000. We contacted them when we realised this and their response was basically hard luck telling us that we should have read their terms and conditions! My point is, don't they have a duty of care to notify you in writing and shouldn't they have pointed out this clause in their terms and conditions in the first place? If anyone knows whether we've got a case worth persuing, we would love to know.

00ec25

you are talking about business to business
that means the onus is on you to read what you sign and know what it means. You seem to think you should be treated like a consumer on the receiving end of a deal from a business - that is wrong. Your duty as a business is to be business like yourself and know what you have to pay and when to pay it

Nothing stopping your business suing their business for breach of contract - ask your lawyer to read the contract you signed and advise you on your chance of winning.....

hard luck about sums it up.

BoGoF

To be frank, what sort of business would need reminding about stuff like this.

Savvy_Sue

For the future, whenever you sign an agreement - BEFORE you sign an agreement - make sure you know what the renewal terms are. If it's a one year contract, when does notice need to be given? Put this date in your work diary, with a reminder popping up sufficiently in advance to give you time to consider whether you want to renew this contract, or look for a different one.