What happens if the contract holder of a lease car dies?

The feeling of losing a loved one is incomprehensible. Unfortunately, in the event that it happens, it also requires a variety of things to be attended to. Should the individual in question have a car lease contract in their name, there is a procedure to be followed to prevent any further distress.

What should I do if the lease contract holder dies?

Generally, if the leaseholder dies, it is classed as an early termination of a contract and is treated as such. So that we can help you in the absolute best way possibly during these unfortunate times, we advise getting in contact with us as soon as humanly possible.

This allows us to discuss the entire process in more detail with you. We would be able to provide you with the contact details for the relevant finance provider in order to arrange for an early termination agreement to be raised by ourselves.

What is the handling process prior to the contract holder’s death?

Should the worst happen, we simply ask for you to get in touch and provide us with the name of the contract holder, the registration of the vehicle and what your relationship is to the deceased.

We will confirm how long is still left to run on the lease contract of the deceased, what amount is outstanding to pay and discuss how the procedure works following the death of the contract holder.

Your finance provider must be contacted to inform them of the death of the contract holder. It is then down to their finance provider as to what happens next. There might be an early termination fee that needs paying or due to the sad reason for the request, the finance provider might waive the fee, this all depends on each individual case.

Before a lease agreement can be terminated in the event of the death of the contract holder, a copy of the deceased’s death certificate might be requested in order for the process to be dealt with quickly for everyone involved.

The finance company will decide what happens next depending on how long was left on the lease and the amount owed.

Of course, everyone concerned with the termination of a contract will do all they can to resolve the situation in the best way possible when it involves the death of a loved one, so the earlier you get in touch with us, the quicker the whole sad situation can be dealt with.

At Flexed, our customers are very important to us, therefore in the event of death of one of our contract holders, we’ll do everything we can to try and make things as easy as possible for the friends and/or family of the deceased.

We’re like one big family here at Flexed, and the entire team look upon our customers as part of that family.

If you have any questions or would like to speak to a member of our team, get in touch with us today.

Simply give us a call on 0800 311 8290 and speak to a member of our friendly team.

You can also reach us by sending a quick email to talk@flexed.co.uk, or you can chat with a member of our team NOW using our online ‘We Are Here!’ service – we’ll gladly answer any leasing questions you may have.

Alternatively, if you’d like to find out more about our flexible car leasing services and fantastic offers for both Business and Personal customers, just click here.

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