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Hello,
I have had a read through the forum and cant seem to find the answer to my issue,
Basically I have a Seat on lease through Arval personal lease, that I got through an online broker last October.
Basically its a 2 year lease, and I paid a deposit upfront of 3 monthly payments.
I am approaching the half way point and ideally want to hand it back so I can get something cheaper.
The contract clearly states from Arval that it is governed by the consumer credit act, and it states that the contracted period if 24 months, with a minimum term of 12, with 15,000 miles a year.
I therefore contacted them and they say that the minimum term means nothing, and that I cant hand it back before the 2 years at all.
They refuse to tell me why their is a minimum term if it doesn't mean anything!, the contract does seem to be quiet clear on handing back, and doesn't mention costs at all, as long as the minimum term is up. The following wording is from the contract:
1. On early termination the hirer may have to pay additional rental for the unexpired minimum term (which doesn’t apply as I wish to return it after my minimum term date)
2. At any time after the minimum term the Hirer may elect to terminate the hire of the vehicle before the end of the contract term. The hirer must give Arval one months’ notice in writing of the date the vehicle will be available for collection and that the contract term will terminate on the date the vehicle is made available for collection (Nowhere in this clause does it say that a cost will be levied)
3. Where this agreement terminates at any time before the expiry of the minimum term, the hirer shall, in addition to any amounts payable under clause 4.2 pay Arval any unpaid rentals for the unexpired minimum term (as said above these clauses are quite clear when they say that if I terminate before the minimum term a payment will be payable, however after that time I won’t be required to pay any charges).
However the consumer credit act wording seems to be around Hire Purchase, not leasing? so I am not covered at all?
I am within my annual mileage allowance and my payments are up to date and never had a problem.
Any advice would be appreciated.
Thanks,
Matthew
I have had a read through the forum and cant seem to find the answer to my issue,
Basically I have a Seat on lease through Arval personal lease, that I got through an online broker last October.
Basically its a 2 year lease, and I paid a deposit upfront of 3 monthly payments.
I am approaching the half way point and ideally want to hand it back so I can get something cheaper.
The contract clearly states from Arval that it is governed by the consumer credit act, and it states that the contracted period if 24 months, with a minimum term of 12, with 15,000 miles a year.
I therefore contacted them and they say that the minimum term means nothing, and that I cant hand it back before the 2 years at all.
They refuse to tell me why their is a minimum term if it doesn't mean anything!, the contract does seem to be quiet clear on handing back, and doesn't mention costs at all, as long as the minimum term is up. The following wording is from the contract:
1. On early termination the hirer may have to pay additional rental for the unexpired minimum term (which doesn’t apply as I wish to return it after my minimum term date)
2. At any time after the minimum term the Hirer may elect to terminate the hire of the vehicle before the end of the contract term. The hirer must give Arval one months’ notice in writing of the date the vehicle will be available for collection and that the contract term will terminate on the date the vehicle is made available for collection (Nowhere in this clause does it say that a cost will be levied)
3. Where this agreement terminates at any time before the expiry of the minimum term, the hirer shall, in addition to any amounts payable under clause 4.2 pay Arval any unpaid rentals for the unexpired minimum term (as said above these clauses are quite clear when they say that if I terminate before the minimum term a payment will be payable, however after that time I won’t be required to pay any charges).
However the consumer credit act wording seems to be around Hire Purchase, not leasing? so I am not covered at all?
I am within my annual mileage allowance and my payments are up to date and never had a problem.
Any advice would be appreciated.
Thanks,
Matthew
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