Car Lease agreement being sold to another company

hannaby

Hi,

I have a personal car lease agreement that is due to expire Sept 26.
I received an email from the lease company (Leaseplan). That they will be selling my car to their sister company ALD and they will transfer my finance agreement to ALD.
They then inform me that their plan is to merge ALD and Leaseplan and become another company call Ayvens.

Can anyone answer if this is allowed and if I have any rights to cancel my agreement?

I spoke with Leaseplan and asked if this was a new contract and hence I could refuse and just cancel the agreement and return the vehicle. They stated no as it is only a new contract "in a sense". I asked how it could be a new contract in a sense, surely it either was or was not a new contract, I didn't really get an answer to that and was told I am liable for the contract I signed which is till September 26.

I understand that I signed the contract till 2026 and I have no issue with paying for this if I have to.
My reason for looking for a loophole is simply based around how bad of a company Leasplan have been to deal with. Any telephone call normally involves a 1 hour wait on hold, their live chat option has no disappeared, emails taken at least a week to normally get an answer and now their portal seems to have also disappeared.
So in short if I can avoid giving them anymore money and move my business to a different company I would like to take that win if possible.

Any help/advice much appreciated.

molerat

Yes they can do it and no you can't cancel. Read your lease agreement, it will be covered as a standard clause about reassignment somewhere in the T&Cs you agreed to.