Leasing - General Discussion
Discussion
mikeyw85 said:
I'm new to leasing and have a cancellation question...
I've signed a leasing agreement on a Cupra Formentor. It won't be delivered until October, which i knew at the time. I'm also beyond the 15 day cooling off period.
I'm having second thoughts about leasing so I phoned up to see how much cancellation would be, presuming it would some basic admin costs.
The leasing companies website says "If you cancel your order, you will be liable for a cancellation fee equivalent to 3% of the P11D value" (£1100). The agreement I signed doesn't say this on it though.
I phoned the lease company and they said they'd have to get in touch with the dealer. Four minutes after the phone call ended, I got an email with an answer (that i'd owe £1100), which strikes me as rather quick.
The leaser says I owe the money because i've been allocated a build slot. With it being another 3-4 months until they start building the car, does this seem reasonable? Is it absed on the dealer losing a sale?
One one hand I know i signed an agreement and i'm not do worried if I have to have the car. On the other, I think they're lying. I think charging me an amount based on a car's value when the car doesn't exist seems wrong.
What does your lease agreement state? Surely that signed document is key? I've signed a leasing agreement on a Cupra Formentor. It won't be delivered until October, which i knew at the time. I'm also beyond the 15 day cooling off period.
I'm having second thoughts about leasing so I phoned up to see how much cancellation would be, presuming it would some basic admin costs.
The leasing companies website says "If you cancel your order, you will be liable for a cancellation fee equivalent to 3% of the P11D value" (£1100). The agreement I signed doesn't say this on it though.
I phoned the lease company and they said they'd have to get in touch with the dealer. Four minutes after the phone call ended, I got an email with an answer (that i'd owe £1100), which strikes me as rather quick.
The leaser says I owe the money because i've been allocated a build slot. With it being another 3-4 months until they start building the car, does this seem reasonable? Is it absed on the dealer losing a sale?
One one hand I know i signed an agreement and i'm not do worried if I have to have the car. On the other, I think they're lying. I think charging me an amount based on a car's value when the car doesn't exist seems wrong.
Ham_and_Jam said:
PenelopaPitstop said:
Long life is 2 years, around 18K miles, or there's fixed annual service. Best to check as soon, as you get your car. It's possible, that Audi will advise you to reset the oil change. I read about it.
But on the other hand, 4K miles and a lot short trips is no good for the car. Not sure what's the Zen Auto policy on servicing, whether it's VAT registered or franchise dealer.
Long life still has oil changes more frequent than the inspections.But on the other hand, 4K miles and a lot short trips is no good for the car. Not sure what's the Zen Auto policy on servicing, whether it's VAT registered or franchise dealer.
I’m set to long life on my recently delivered petrol A6 (500 miles on the clock). The inspection is in 2 years (19k), but the oil change is 15 months (12k).
Edited by Ham_and_Jam on Thursday 3rd June 10:11
Dyslexicwinker said:
Of the 4000 miles about 3500+ would purely have been electric. It’s perfect for short journeys so having to do an oil change when the engine at best has done 500 miles is a joke. I’ll query and find a way around it ;-)
They may well reset it. I’ve heard a few dealers have done this when it’s obviously not required.I would push for them to do that.
mikeyw85 said:
I'm new to leasing and have a cancellation question...
I've signed a leasing agreement on a Cupra Formentor. It won't be delivered until October, which i knew at the time. I'm also beyond the 15 day cooling off period.
I'm having second thoughts about leasing so I phoned up to see how much cancellation would be, presuming it would some basic admin costs.
The leasing companies website says "If you cancel your order, you will be liable for a cancellation fee equivalent to 3% of the P11D value" (£1100). The agreement I signed doesn't say this on it though.
I phoned the lease company and they said they'd have to get in touch with the dealer. Four minutes after the phone call ended, I got an email with an answer (that i'd owe £1100), which strikes me as rather quick.
The leaser says I owe the money because i've been allocated a build slot. With it being another 3-4 months until they start building the car, does this seem reasonable? Is it absed on the dealer losing a sale?
One one hand I know i signed an agreement and i'm not do worried if I have to have the car. On the other, I think they're lying. I think charging me an amount based on a car's value when the car doesn't exist seems wrong.
This is a difficult one, technically you've agreed to the terms (It'll be in your contract somewhere) but in the eyes of the FCA you'll find that this isn't treating customers fairly (TCF). For example if a customer has ordered a Fiat 500 the P11d will me much less than someone that has ordered something like a Range Rover so why should the customer with the Fiat 500 get a lesser fee or in your case why should a Fiat 500 customer pay less for cancelling than you? It could be worth taking up with the financial ombudsmanI've signed a leasing agreement on a Cupra Formentor. It won't be delivered until October, which i knew at the time. I'm also beyond the 15 day cooling off period.
I'm having second thoughts about leasing so I phoned up to see how much cancellation would be, presuming it would some basic admin costs.
The leasing companies website says "If you cancel your order, you will be liable for a cancellation fee equivalent to 3% of the P11D value" (£1100). The agreement I signed doesn't say this on it though.
I phoned the lease company and they said they'd have to get in touch with the dealer. Four minutes after the phone call ended, I got an email with an answer (that i'd owe £1100), which strikes me as rather quick.
The leaser says I owe the money because i've been allocated a build slot. With it being another 3-4 months until they start building the car, does this seem reasonable? Is it absed on the dealer losing a sale?
One one hand I know i signed an agreement and i'm not do worried if I have to have the car. On the other, I think they're lying. I think charging me an amount based on a car's value when the car doesn't exist seems wrong.
peebie said:
This is a difficult one, technically you've agreed to the terms (It'll be in your contract somewhere) but in the eyes of the FCA you'll find that this isn't treating customers fairly (TCF). For example if a customer has ordered a Fiat 500 the P11d will me much less than someone that has ordered something like a Range Rover so why should the customer with the Fiat 500 get a lesser fee or in your case why should a Fiat 500 customer pay less for cancelling than you? It could be worth taking up with the financial ombudsman
Thanks you. Yes, this is how I see it. The fee’s shouldn’t be related to a car that doesn’t exist. It’s only a build slot. It’s not like they have a car on their hands they’re going to struggle to sell. Like I was alluding to, I don’t think the lease sales manager even spoke to the dealer who’s supplying the car. He just doesn’t want me to cancel and is at this point lying to help prevent it.Has anybody successfully purchased their ALD lease, I asked this question on here before and looked at a few options ie tracking through the auction house or approaching ALD directly.
In terms of the Auction option you need to have a traders account so that is out and I’ve asked ALD via their email chat and the contract doesn’t allow the purchase.
Is this worth me pushing or pleading as in the current world I wonder if they would make exceptions.
I’ve asked the questions again but they usually respond in 10 days so want to see if anybody has been successful?!
The current lease market is so poor and just considering my options.
Thanks
In terms of the Auction option you need to have a traders account so that is out and I’ve asked ALD via their email chat and the contract doesn’t allow the purchase.
Is this worth me pushing or pleading as in the current world I wonder if they would make exceptions.
I’ve asked the questions again but they usually respond in 10 days so want to see if anybody has been successful?!
The current lease market is so poor and just considering my options.
Thanks
Evening chaps
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
DeanoC89 said:
Evening chaps
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Is it the order from the dealer that has no excess mileage? If so when the contract comes from the finance company it should have the correct excess mileage. If that arrives and it's still at 0ppm then you've got a cracking deal.Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
peebie said:
DeanoC89 said:
Evening chaps
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Is it the order from the dealer that has no excess mileage? If so when the contract comes from the finance company it should have the correct excess mileage. If that arrives and it's still at 0ppm then you've got a cracking deal.Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
DeanoC89 said:
peebie said:
DeanoC89 said:
Evening chaps
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Is it the order from the dealer that has no excess mileage? If so when the contract comes from the finance company it should have the correct excess mileage. If that arrives and it's still at 0ppm then you've got a cracking deal.Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Sc0tchland said:
DeanoC89 said:
peebie said:
DeanoC89 said:
Evening chaps
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Is it the order from the dealer that has no excess mileage? If so when the contract comes from the finance company it should have the correct excess mileage. If that arrives and it's still at 0ppm then you've got a cracking deal.Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Edited by DeanoC89 on Thursday 10th June 12:24
DeanoC89 said:
Sc0tchland said:
DeanoC89 said:
peebie said:
DeanoC89 said:
Evening chaps
Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Is it the order from the dealer that has no excess mileage? If so when the contract comes from the finance company it should have the correct excess mileage. If that arrives and it's still at 0ppm then you've got a cracking deal.Quick question for anyone who A) has leased from Arnold Clark and B) may be a contractual boffin.
An agreement for an A3 on PCH has been executed by both myself and Arnold Clark, and the various clauses in there that refer to excess mileage charges have seemingly been missed and is 0.00 where indicated. Chances are I won't exceed the 8k per annum I've opted for, but do I have a safety net if I did?
Perhaps a daft question but if anyone else has leased from Arnold Clark, presumably yours had a value in the agreement for excess mileage?
Edited by DeanoC89 on Thursday 10th June 12:24
The Tiguan that I ordered though Select Car Leasing on April 1st just arrived.
The delivery date was bumped back a couple of times by the dealer which was slightly annoying but manageable. I haven't driven it yet but to sit in it feels a lot like my old Golf R estate but in portrait rather than landscape.
The delivery date was bumped back a couple of times by the dealer which was slightly annoying but manageable. I haven't driven it yet but to sit in it feels a lot like my old Golf R estate but in portrait rather than landscape.
paralla said:
The Tiguan that I ordered though Select Car Leasing on April 1st just arrived.
I haven't driven it yet but to sit in it feels a lot like my old Golf R estate but in portrait rather than landscape.
Excellent way of describing it, that made me smile. It looks great actually.I haven't driven it yet but to sit in it feels a lot like my old Golf R estate but in portrait rather than landscape.
Well I’ve just had an absolute jobsworth (in my opinion) inspect and collect my M2.
New car detail/machine polish and ceramic from new, 2yrs old and only 13,000 miles…never got to take it to Le Mans, NC500, trackdays due COVID so I though I’d win an award for cleanest lease car!
Tried to get me for £135 in charges for stone chips!
I miss it already but experiences like this and the inflexibly of leasing puts me off somewhat.
New car detail/machine polish and ceramic from new, 2yrs old and only 13,000 miles…never got to take it to Le Mans, NC500, trackdays due COVID so I though I’d win an award for cleanest lease car!
Tried to get me for £135 in charges for stone chips!
I miss it already but experiences like this and the inflexibly of leasing puts me off somewhat.
I might have asked this before quite a while ago, apologies if I have, I don’t think I got a definitive answer (it’s been an ongoing debacle…)
Has anyone managed to reject a lease car for repeated faults, and have they had any assistance from the finance co in doing so?
I may well have missed the boat for this now and accept that, as the car is slightly over a year old, however Covid meant that it wasn’t used much last year. I’ve had constant faults with my Range Rover Hybrid, and an ongoing one that the dealer hasn’t managed to fix after 3 separate attempts. The spare key has never been able to unlock the car, ever since I had it delivered brand new. The dealer keeps saying there’s nothing wrong with it, however I’ve showed them on the 3 separate times when I’ve gone to collect the car that it clearly doesn’t work! My pano roof has now come loose, something’s fallen off the inside of the door trim, the engine has developed what feels like a misfire and I’ve got to wait until 10th August until they’re able to look at it again, after not fixing any of these things when it went in last week.
So far, in the 14 months I’ve had the car, it’s had-
- glovebox didn’t open upon delivery. Dash out to repair as something wasn’t installed at the factory
- suspension failure requiring call to LR assist and resetting the car via OBD
- Hybrid system failure (multiple times)
- Air Con failure (in Cornwall on the hottest day of last year)
- Both screens going dead - very common, happens often. This means you lose control of climate/AC too
- emergency brake system failure
- spare key won’t do keyless unlock, has never worked and dealer can’t fix it
- more recently a couple of times after pulling off on battery power the engine hasn’t cut in when it was supposed to, leaving the car coasting for a bit until it wakes up. This happened when trying to join a dual carriageway nearly causing me to have an accident as I lost power suddenly at 40mph or so
- engine feels like it has a constant misfire from cold, or when it cuts in after being on battery power
- suspected loose pano roof causing really loud rattles from above
- suspected loose drivers door card causing loud rattles
The car has only done 7k miles, I’ve had it from brand new. It’s leased from Lex, the deal was done via a broker. I just want rid of this car now as I’m totally sick of it and its constant faults (I have pictures of all faults/fault codes on dash) only to be told after waiting weeks for the dealer to see it that there’s nothing wrong with it. I’d even pay money to get out of it now, that’s how frustrated I am. I really don’t know where to turn or what process to follow, my local dealer have been useless in repairing it and having not bought it through them I can’t see they’d go to much trouble to help me get rid of the car. If it was PCP’d I’d have just traded it in by now, settled the finance and cut my losses.
I don’t suppose another dealer (different marque) could buy me out of my lease could they? People have told me they’ve managed this before but I think they’re getting confused between PCP and lease as I’m sure this isn’t possible. The one thing that’s currently on my side is due to the strength of residuals currently the car can’t be in much negative equity if at all, it’s CAPing and not too far below list price.
Has anyone managed to reject a lease car for repeated faults, and have they had any assistance from the finance co in doing so?
I may well have missed the boat for this now and accept that, as the car is slightly over a year old, however Covid meant that it wasn’t used much last year. I’ve had constant faults with my Range Rover Hybrid, and an ongoing one that the dealer hasn’t managed to fix after 3 separate attempts. The spare key has never been able to unlock the car, ever since I had it delivered brand new. The dealer keeps saying there’s nothing wrong with it, however I’ve showed them on the 3 separate times when I’ve gone to collect the car that it clearly doesn’t work! My pano roof has now come loose, something’s fallen off the inside of the door trim, the engine has developed what feels like a misfire and I’ve got to wait until 10th August until they’re able to look at it again, after not fixing any of these things when it went in last week.
So far, in the 14 months I’ve had the car, it’s had-
- glovebox didn’t open upon delivery. Dash out to repair as something wasn’t installed at the factory
- suspension failure requiring call to LR assist and resetting the car via OBD
- Hybrid system failure (multiple times)
- Air Con failure (in Cornwall on the hottest day of last year)
- Both screens going dead - very common, happens often. This means you lose control of climate/AC too
- emergency brake system failure
- spare key won’t do keyless unlock, has never worked and dealer can’t fix it
- more recently a couple of times after pulling off on battery power the engine hasn’t cut in when it was supposed to, leaving the car coasting for a bit until it wakes up. This happened when trying to join a dual carriageway nearly causing me to have an accident as I lost power suddenly at 40mph or so
- engine feels like it has a constant misfire from cold, or when it cuts in after being on battery power
- suspected loose pano roof causing really loud rattles from above
- suspected loose drivers door card causing loud rattles
The car has only done 7k miles, I’ve had it from brand new. It’s leased from Lex, the deal was done via a broker. I just want rid of this car now as I’m totally sick of it and its constant faults (I have pictures of all faults/fault codes on dash) only to be told after waiting weeks for the dealer to see it that there’s nothing wrong with it. I’d even pay money to get out of it now, that’s how frustrated I am. I really don’t know where to turn or what process to follow, my local dealer have been useless in repairing it and having not bought it through them I can’t see they’d go to much trouble to help me get rid of the car. If it was PCP’d I’d have just traded it in by now, settled the finance and cut my losses.
I don’t suppose another dealer (different marque) could buy me out of my lease could they? People have told me they’ve managed this before but I think they’re getting confused between PCP and lease as I’m sure this isn’t possible. The one thing that’s currently on my side is due to the strength of residuals currently the car can’t be in much negative equity if at all, it’s CAPing and not too far below list price.
Can I cancel a lease if the wait is too long?
Took a lease out for a Formentor with Nationwide in May and still no build week allocated. Like a lot of factory orders, I could be looking at December or even into 2022, which is ridiculous.
I’m guessing if I cancelled I would lose the ~£230 fee I paid. They told me initially a September delivery, but I probably wouldn’t have bothered with the lease if I knew it was going to be end of the year onwards.
Took a lease out for a Formentor with Nationwide in May and still no build week allocated. Like a lot of factory orders, I could be looking at December or even into 2022, which is ridiculous.
I’m guessing if I cancelled I would lose the ~£230 fee I paid. They told me initially a September delivery, but I probably wouldn’t have bothered with the lease if I knew it was going to be end of the year onwards.
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