I ordered a vehicle and received delivery and signed a finance lease just to find after 2 weeks that an item was missed when the specification list was ordered by me. I have the financing agreement that confirms the specifications, but the invoice does not have it. I can still refuse the car, it has been closed for more than two months because of Covid. Can you advise us? Thank you In general, this option is only available between two limited companies. The majority of leasing companies do not transfer a regulated personal contract to another user. A PCH agreement is a form of financing, so it`s important to know that you`ll receive a credit check before an agreement is allowed. Another important thing to know is that PCH agreements do not involve car insurance. Each driver is assessed individually by insurance companies, so insurance pricing tends to be too difficult. The right to voluntarily terminate your Regulated Lease (HP) or Personal Contract Purchase (PCP) is provided for in the Consumer Credit Act (1974, Section 99) and should be included in all contractual documents you have signed for your vehicle. This right is to offer you protection as a consumer when you can no longer afford your monthly payments. Similarly, the law protects financial institutions and ensures that borrowers cannot simply walk away from their obligations at all times.
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