The Vehicle Lease Termination letter is a letter written to a dealer or a motor vehicle finance company. It is to inform the termination of the lease agreement done between an individual and the dealer or the company head. The agreement is done for leasing a vehicle (that may be a motorbike or four wheeler) from the dealer or the company. The termination of the lease may have many reasons. Maybe the agreement period is completed, or the customer was not satisfied with the vehicle’s performance or the customer found a better option in leasing another vehicle.
However, the customer or the person who is writing this letter should give a clear explanation for terminating the lease. If it is the vehicle’s problem, he should be able to explain it properly so that the reader of the letter can understand his/her intention. If the cause for termination of the lease is the completion of agreement period, it is good if the writer expresses his satisfaction in using the vehicle throughout the period. In addition to these details, mention the date when the agreement was made and inform the date of termination of the agreement.
Tips to follow while writing a Vehicle Lease Termination Lette
- The letter should be detailed.
- Mention the agreement made between you and the reader along with dates.
- Explain the reason for termination of the agreement.
- If you are not satisfied with vehicle performance mention that in a polite way.
- If you are satisfied with the vehicle and the reason is the completion of the agreement, express your satisfaction.
- At last mention the termination date of the agreement.
Template
Use our free Vehicle Lease Termination Letter to help you get started. If you need additional help or more examples check out some of the sample letters below.
From,
__________
__________
__________
__________
Date: _____ (Date on Which Letter is Written)
To,
__________
__________
__________
__________
Subject: Termination Letter for Vehicle Lease Agreement.
Dear _____ (Sir or Madam),
I am __________ (mention your name) working as a __________ (mention your designation) in __________ (mention your company name). The reason I am writing this letter is to inform you that I am going to terminate the agreement between your finance company __________ (mention the company name) and me that was made on __________ (mention the date and year) for the vehicle __________ (mention the vehicle name and it’s details).
The reason for the termination of the agreement is ______________________________ (mention the reason). [I am unhappy with the vehicle’s performance. So, I took this decision, as I paid half of the amount while the agreement was written, I would like to have 50 percent of the money returned] (mention the above statements if you are unhappy with the vehicle, and you have recently made the agreement).
[As the period of the agreement is over I would like to terminate it, I was satisfied with the vehicle’s performance throughout the period] (Mention the above statement if the agreement was over and you are happy with vehicle’s performance). I would like to terminate the agreement on __________ (mention the date) of this month. I will submit all the papers given by you at the time of the agreement without fail.
Thanking You,
Name and Signature.
Vehicle Lease Termination Letter Sample
From,
Venkat,
Flat no:205, Mahitha Residency,
Chanda Nagar,
Hyderabad-3.
Date:10/1/2016
To,
Sairam,
Harika Motor Vehicles Finance Company,
Gandhi Nagar,
Hyderabad-6.
Subject: Termination of Vehicle Lease.
Dear Sairam,
I am Venkat working as a sales Ambassador person in Justdail Company which is located at Begumpet Hyderabad. According to my company rules, I should get a bike while joining. Due to my financial status, I cannot afford a bike hence I took a bike for a lease from your finance company on 15/1/2015 for one year.
Now I am writing this letter to remind you about the period of the agreement and to inform you that I am going to terminate the agreement for the vehicle lease. The reason for this is that now I am in a good position to buy a bike on my own and also, as the lease period is over, I want to return your bike.
Unlike all the finance companies your company has very reasonable rent for the vehicles and the performance of the bike, I took for lease was also satisfactory. You were also co-operative at the time of bill payment. There are no other reasons for the termination of the agreement, as I can buy a new one I think it is better if I return your vehicle. I will return the vehicle on 15th of this month along with all the papers you had given me at the time of the agreement. I thought it would be better if I inform you about this two-three days in advance, so I am writing this letter.
Thanking You,
Yours Sincerely,
Venkat.
Email Format
The following is the Email Format that should be followed while writing a Vehicle Lease Termination Letter.
To: name@email.com
From: name@email.com
SUBJECT: Vehicle Lease Termination Letter.
Dear Mr./Ms/Mrs.______(Name of the recipient)
I am __________ (mention your name) working as a __________ (mention your designation ) in __________ (mention your company name). The reason I am writing this letter is to inform you that I am going to terminate the agreement between your finance company __________ (mention the company name) and me that was made on __________ (mention the date and year) for the vehicle __________ (mention the vehicle name and it’s details).
The reason for the termination of the agreement is ______________________________ (mention the reason). Hence, I would like to terminate the lease agreement. There are no other reasons for this action. I thought it would be better if I write a letter one or two weeks in advance.
I would like to return your vehicle on __________ (mention the return date) along with all the documents that were given to me. If you have any doubts or queries regarding this issue you can mail me at __________ (give your mail id) or contact me at __________ (give your mobile number). Thank You for your co-operation throughout the agreement period and thank you for spending your time to read this.
With Regards,
(Name of the Sender).