Under UK law you’ve got the right to cancel certain kinds of car lease agreements early.
This will be referred to as voluntary termination, and it is to not be mistaken for voluntary surrender – which will be different things and most readily useful prevented.
Understand your legal rights to voluntary termination
Area 99 of this credit rating Act 1974 sets out of the circumstances by which it is possible to voluntarily end A hp that is regulated or contract. It covers both brand brand new and used cars.
What the law states can there be to simply help protect those that have applied for a finance contract, but at some time became not able to manage their month-to-month repayments.
This might happen for several reasons, such as for example in the event that you lose your work, or involve some other improvement in your monetary circumstances this means you can’t spend your vehicle finance contract.
The two types of finance agreement are slightly different in how they work while, as mentioned, the law covers both PCP and HP.