I have leased a vehicle from a lease company for 2 years, I signed the finance document at 11.00am on the 15th March, I contacted the finance company at 12:00pm on the 29th March to advise I wanted to cancel the contract under the 14 day cooling off period. They advised me the 14 day cooling off period started at 11.00am ON THE 15th therefore I was 1 day and 1 hour out of being allowed to cancel. Is this correct? I was under the impression from reading the Consumer Rights Act 2015 that the commencement of the 14 day cooling off period is from the day after the day of signing and is 14 CALENDAR days with no mention of this expiring at a specific time. Therefore contacting them ON THE 29th at any time was still within the 14 calendar days.
I would also like to check, does the cooling off period start (whatever the specific time/date answer is to above query!) from the signing off the finance document? Or does it start from when the vehicle was delivered which in my case was 12 days after signing the finance document? I received the vehicle before the cooling off period had even finished.
On the finance contract I signed it made no mention of the length of time the cooling off period was, it said “YOUR RIGHT TO CANCEL Once you have signed this agreement you have a short time in which you can cancel it. Details of how to cancel it will be sent to you by the owner. ” I was never given details of how to cancel by the owner.
I am finding it really hard to find any details of what rights I have under a lease agreement with finance, there only seems to be details about finance when purchasing a vehicle.
Many thanks in advance for any advice you can give.
(3) If the contract is a sales contract and none of paragraphs (4) to (6) applies, the cancellation period ends at the end of 14 days after the day on which the goods come into the physical possession of—
(a)the consumer, or
(b)a person, other than the carrier, identified by the consumer to take possession of them.
4-6 do not apply by the way as that is for multiple items . Hope this helps