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  1. #1
    Join Date
    Dec 2007

    Default Canceling A Vehicle Lease Agreement

    I recently put down a $300.00 deposit for a two year lease on a new automobile. After doing so, I am reconsidering going through with the lease. If am reading the document I signed correctly it says that if I don't go through with the purchase (I have not yet signed the lease for the car and am not yet in possession of it) that I forfeit the $300.00. I have not told the dealership yet that I am considering backing out on this purchase. I just wanted to know if I decide not to go through with this purchase that they can't charge me any more money that my deposit. I am willing to give up the $300.00 to cancel the deal. I am sure that they will try to pursuade me to continue with the lease. I just want to know what my rights are...Thanks!

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Cancelling A Vehicle Lease Agreement

    You can expect them to try to convince you to go through with the lease. I'm assuming your interpretation of the contract is correct and they are legally entitled to keep the $300. Your best bet for getting them to voluntarily refund it is to convince them that although you are not going to go through with this particular purchase, you will be using their services to buy or lease a different car in the future. You may also be able to convince them to let you transfer the deposit to a different vehicle.

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