Lease car

billymclean

Hi
Can I opt out of a car lease deal before delivery. 
I was meant to take delivery in March and haven't signed any finance agreement. 
I work in the aerospace industry and fully expect my job to be at risk.
Thanks. 
Billy.

[Deleted User]

Do you have any paperwork?

Have you signed anything?

Have you paid a deposit?

It was such a vague question...

Mercdriver

"I was meant to take delivery in March and haven't signed any finance agreement. "

Perhaps not signed a physical document, OP but have you been asked to e-sign anything?

TadleyBaggie

There wouldn't have been any scheduled delivery until the finance agreement was signed and the 14 day cooling off period had expired.

billymclean

Hi. 

Thanks for the replies. 

I paid a sourcing fee for the car back in December and signed an E form at the same time. The car was supposedly getting delivered in March but probably due to Covid19 it hasn’t. I no longer want the car as my circumstances have changed due to Covid19, where do I stand. 

Thanks. 

Billy. 

Jonesya

I think you've got to get that E-form and any other documentation from where you ordered it, read them and see what it says. See if the fact the vehicle has been delayed gives you grounds to cancel - I'd be surprised it the contract doesn't have some option in the event of delays to delivery of terminating it.

Personally though I'd act fast because I'd guess it will be easier and cheaper, if you can cancel, to do it before it is delivered. After delivery I'd imagine it would get a whole lot more costly to back out of.

billymclean

I've managed to retrieve an email that says there is a 14 day cooling off period after the signing of the finance papers which I haven't received. 
Could they still impose a penalty as the car was ordered in December. 
The company in question is Blue Chilli Cars ltd and are currently on furlough.
Cheers
Billy.

MinuteNoodles

Contact the lease company. They're likely to give you a lot better answer than a random bunch of strangers on the internet who haven't even been told the name of the finance company, let alone seen the contract.

subo88

Hi there,
I have the exact same issue, I had ordered and signed a "new order form" with best car finder late February, with delivery due end of March. I'm in a similar position with the projects I'm working on this year being cancelled.

So I have signed these forms and signed an initial direct debit section for the agreed installments. They have recently just got in touch saying the car is now ready for delivery after it being delayed due to covid19. No money has changed hands, I haven't paid my deposit. Can I just cancel and would this sort of bring down my credit rating?

Thanks in advance.

Grumpy_chap

I think an honest discussion with the dealers / finance companies is the way forward.  As much as they are desperate for the sale, they don't want the car in the hands of someone who is unable to pay the finance and then have all the hassle of needing to go down the recovery routes.  

I think there are rules for finance companies about making loans that are unaffordable.  If your income has dropped so the payments are unavoidable, does that not make the finance company obliged to withdraw the offer?

https://debtcamel.co.uk/unaffordable-car-finance/