Updated for orders placed on and after 30/01/2024

 

Cancelling your car lease agreement.

Here we provide information regarding our cancellation policy and relating terms and conditions. Please refer to this documentation if you are considering cancelling Carparison’s brokerage services.

Please be aware that the following relates to cancelling Carparison’s brokerage services only and does not, therefore, reflect your cancellation rights with the finance provider of your lease deal.

Cancellation Policy for Regulated Agreements

Consumer Contracts Regulations dictate that regulated credit broking agreements that have been made without any face-to-face contact (i.e via phone or internet) come with the statutory right to cancel without penalty or reason within 14 calendar days.

A regulated agreement applies to all personal customers, sole traders and partnerships with up to four partners. It does not apply to Limited companies, Limited Liability Partnerships (LLP) and Partnerships with more than four partners as these agreements are unregulated.

This 14 day cancellation period begins from the date you sign and submit your funder finance documentation. Regulated agreements can be terminated within this 14 day period without incurring any early termination charges. However, administration charges may apply for services provided by Carparison and these are detailed below.

Some funders prevent delivery taking place within the 14 day cooling off period. However, if the lease car is delivered to you and you choose to cancel your order within 14 days, collection will be arranged at your cost and any noted damage must be rectified at your expense before the rejection is accepted. There may be exceptions, but these will be considered on a case by case basis. 

It is possible to cancel your agreement after this period, but fees will apply. If you submit a formal cancellation request after the 14 day cancellation period, early termination fees will apply and Carparison will retain the full £298.80 including VAT processing fee taken at the time of order. This is to cover all costs incurred in arranging the car order and finance arrangement up until that point. Furthermore, if charges have been incurred from the car supplier, these fees will be owed in full by the cancelling party. 

Cancellation charges

Cancellation charges will apply if your requested delivery date requires processing to take place before or beyond the conclusion of the 14 day cooling off period. This does not affect your right to cancel the finance agreement without early termination fees in this time.

Cancellations requested after funder finance documentation has been signed will be liable for 50% of the processing fee (£149.40 including VAT) in addition to any charges incurred by Carparison in the process of brokering the deal on your behalf.

Cancellations requested after delivery is booked will be liable for the full processing fee (£298.80 including VAT) in addition to any charges incurred by Carparison in the process of brokering the deal on your behalf. 

These charges cover the operational costs incurred in progressing your order to these milestones and the loss of income as a result of removing the vehicle from sale.

Summary of cancellation charges for regulated agreements

Within 14 day cooling off period:

  • Funder: if your vehicle hasn't been delivered you can cancel without any early termination charges
  • Funder: if your vehicle has been delivered you can cancel but collection will be arranged at your cost
  • Carparison: if your requested delivery date has required processing to take place, deductions of your processing fee will apply at the listed milestones
  • Dealer: if delivery has been booked, additional charges will apply

Beyond 14 day cooling off period:

  • Funder: additional early termination charges apply, review your finance documentation for details
  • Carparison: your full processing fee will be retained
  • Dealer: if delivery has been booked, additional charges will apply

Cancellation Policy for Unregulated Agreements

Contract Hire agreements made by Limited Companies, Limited Liability Partnerships (LLP) and Partnerships with more than four partners are unregulated. In these circumstances, where an agreement is cancelled following submission of a completed order form, cancellation fees will apply.

Cancellations of all unregulated agreements will be liable for the full processing fee of £298.80 including VAT plus additional charges listed below.

If your car has gone into build, the charge would be 10% of the full list price.

For in stock cars or those that have not yet gone into build, the cancellation fee will equal 2 monthly rentals.

Furthermore, in the event that delays or price increases occur that are outside of our control, Carparison must be given first refusal to supply an alternative car at competitive rates. If not, the above cancellations rates would apply.

How to cancel the order of your lease car

If you wish to exercise your right to cancel your order, you must notify Carparison by a clear statement in writing by post or email:

Carparison Limited,
Stratford House,
Waterbridge Court,
Matford Park Rd,
Marsh Barton,
Exeter,
EX2 8ED

[email protected]

Within this communication you must include your full name, address and details of the order you wish to cancel.

If we cancel your order

Although extremely rare, there may be circumstances where Carparison are unable to fulfil your order – such as when there are unfavourable changes to manufacturer build schedules or changes to rates between order and delivery that we have no control of and cannot protect against. If Carparison are forced to cancel an order due to circumstances outside of the customer’s control, the processing fee will be refunded in full.

For those entitled to a refund of the processing fee taken when their order was placed, refunds will be issued as soon as possible but within 28 workings days from the day on which Carparison is in receipt of your formal cancellation request.

Amendment charges

Changes you request to the vehicle or finance terms reflected in a signed order after it is received by Carparison will incur an amendment charge of £60 including VAT.

Amendments include all contractual changes affecting the monthly rental of the vehicle including the finance product type, lease term, initial rental or annual mileage. 

Amendments include all material changes to the vehicle including make and model, paint, specification or added extras.

These charges cover the operational costs incurred in processing order amendments and, if applicable, the loss of income as a result of removing the original vehicle from sale.

Please note order changes may also require a new finance application and credit check.