Did you sign a leasing contract for your dream car, but now have second thoughts? Don’t worry, because in many cases, you can revoke a leasing contract. But be cautious: not every revocation is successful, and there are some pitfalls. In this article, you’ll learn everything important about revoking a leasing contract and how to proceed best.
What Does “Revoking a Leasing Contract” Actually Mean?
Before we go into detail, let’s first clarify the terminology. A revocation means that you can dissolve the leasing contract within a specific period without stating reasons. It’s as if the contract never existed.
“Imagine you buy a spare part for your car online and realize upon delivery that it’s the wrong one,” explains Dr. Ing. Klaus Müller, automotive expert and author of the book “Clever Leasing: Recognizing Pitfalls and Saving Money”. “In this case, you have a right of revocation and can return the part. The situation is similar with leasing.”
Steps for revoking a car leasing contract
When Can I Revoke a Leasing Contract?
Generally, you always have a right of revocation if you concluded the leasing contract outside of business premises, for example, online, on the phone, or at a sales booth. In this case, a revocation period of 14 days applies.
If, on the other hand, you signed the contract directly at the dealership, revocation is only possible in exceptional cases, such as if the dealer did not properly inform you about your right of revocation.
How Do I Correctly Revoke a Leasing Contract?
To revoke a leasing contract, you must provide the lessor with a clear statement within the revocation period. This can be done in writing by letter or email, or even by phone. It is important that you declare the revocation within the deadline and clearly.
Tip: It’s best to use a sample revocation letter to ensure all important points are included.
What Are the Consequences of Revoking a Leasing Contract?
If you have successfully revoked your leasing contract, you must return the vehicle to the lessor within 30 days. The lessor must then reimburse you for all payments already made, such as the down payment.
What Else Should Be Considered When Revoking a Leasing Contract?
- The revocation period only begins when you have received the contract documents and the revocation information.
- Make sure you treat the vehicle carefully and don’t cause any damage.
- Inform yourself in time about the costs of early contract termination, if revocation is not possible.
Choosing between canceling and revoking a car lease
Frequently Asked Questions about “Revoking a Leasing Contract”
- Can I also revoke the leasing contract if I have already used the car? Yes, using the vehicle within the revocation period is generally allowed.
- What happens if I missed the revocation deadline? In this case, you generally cannot revoke the leasing contract anymore.
- To whom should I send the revocation? You should send the revocation directly to the lessor.
Conclusion: Revoking a Leasing Contract – Yes or No?
Whether revoking the leasing contract is worthwhile for you depends on your individual situation. If you are unsure whether revocation is possible or advisable in your case, it is recommended to seek professional help.
Do you have questions about leasing or need support with repairing your vehicle? Feel free to contact us, our expert team at autorepairaid.com is always ready to assist you.
