When A Leasing Company With A Heart Gets It Right
Friday, 19. July 2019
Having been in this industry for over 35 years I’ve managed to get a reputation for being hugely critical of leasing companies. I fight with them regularly in an effort to get customers treated fairly, you only have to google Graham Hill PCP and see how outspoken I am about the way that PCP agreements are sold. But today I heard from one of my customers with proof that not all leasing companies are simply heartless businesses.
I had a call from one of my long-serving customers a few weeks ago explaining that his wife was terminally ill. Very sad news indeed and quite sudden. We got onto the practical subject of his wife’s car that was leased through me and what would happen? The agreement was with VW Finance and was just over halfway through.
The legal position was quite simple, if you early terminate a car you must pay an early settlement fee which is usually about 50% of outstanding rentals. In this case it was £4,300. Whilst expectations were not high it was decided to contact the funder to see if they would take a sympathetic view.
After asking for some proof of his wife’s condition the leasing company contacted my client and said that given the very sad circumstances they were prepared to waive the termination cost in total and when the car was collected the collection agent, with no knowledge of my client’s condition, kept the refurbishment charge to an absolute minimum.
Whilst the circumstances were incredibly sad the actions of the leasing company, VW Finance, proved that they aren’t just money-grabbing businesses but a business with a heart. Well done VW Finance, you are my leasing company of the year. Commiserations and best wishes to my clients, both the husband and his wife, our prayers are with you. By Graham Hill
