Failing to cancel Lex Auto Lease agreement

Grumpy_chap

Oh yes!
But not for Mercedes, only Maybach!

Thrugelmir

ldare2020 said:

Thrugelmir said:

ldare2020 said:

Thrugelmir said:

Read the paperwork you signed. That will explain what you committed to and what the cancellation charges will be. The fact that you haven't received any bookings for your holiday lets is of no consequence to the leasing company. 

Don't they have a responsibility to demonstrate responsible lending? 

You declared your income when applying for the finance. Loss of income is a risk everyone takes. Individuals have to accept responsibility for putting aside reserves, i.e. savings in the good times to tide them over. Likewise your choice to lease such an expensive vehicle. 

Is the law different for expensive vehicles?

Over leveraging is old as the hills.. Some of the stories I heard over the years......

Jonesy1977

ldare2020 said:

Thrugelmir said:

ldare2020 said:

Thrugelmir said:

Read the paperwork you signed. That will explain what you committed to and what the cancellation charges will be. The fact that you haven't received any bookings for your holiday lets is of no consequence to the leasing company. 

Don't they have a responsibility to demonstrate responsible lending? 

You declared your income when applying for the finance. Loss of income is a risk everyone takes. Individuals have to accept responsibility for putting aside reserves, i.e. savings in the good times to tide them over. Likewise your choice to lease such an expensive vehicle. 

Is the law different for expensive vehicles?

I believe you should be able to cancel the order, but you will have to pay a penalty, the penalty will be detailed in the contract, which you have signed (you will have signed to say that you read) you also asked who your contract is with, I pointed you to Martins article on brokers, I believe you have a deal with a broker but I am not sure anyone here can help as you have the paperwork and terms and conditions.