Your Cancellation Rights For Nationwide Vehicle Contracts Brokerage Service
This document explains your cancellation rights and the period of time within which you have to decide whether or not you wish to use Nationwide Vehicle Contracts’ brokerage service.
Please note, this policy specifically relates to cancelling Nationwide Vehicle Contracts’ brokerage service and does not relate to your cancellation rights with the finance provider.
Cancellation Policy for Regulated Agreements
For regulated credit broking agreements that have been concluded without any face-to-face dealings (ie. over the phone, internet etc.) you have the statutory right to cancel the contract without penalty and without giving any reason within 14 calendar days in accordance with the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations.
This legal right applies equally to all personal customers, sole traders and partnerships with up to four partners. These rights to not apply to Limited Companies, Limited Liability Partnerships (LLP) and Partnerships with more than four partners as these agreements are unregulated.
The 14 calendar day cancellation period for Nationwide Vehicle Contracts' Brokerage Service begins from the day you “accept” our quotation, Terms & Conditions and IDD document. For orders placed online, this period starts from the day you submit your online order. For orders cancelled after 14 calendar days, the following cancellation fees will apply:
- If you cancel your order after the 14 calendar day period but before you sign your Contract Hire or Personal Contract Hire agreement, a cancellation fee of £100 inc VAT will be retained by Nationwide Vehicle Contracts to cover all costs and expenses incurred in arranging the credit hire agreement up to that point. This fee will be deducted from the £270 inc VAT processing fee (otherwise known as the brokerage fee) paid by the customer at point of order.
- If you cancel your credit hire agreement beyond the 14 calendar day period and after you have signed your Contract Hire or Personal Contract Hire agreement, Nationwide Vehicle Contracts will retain the full processing fee of £270 inc VAT (otherwise known as the brokerage fee) to cover all costs and expenses incurred in arranging the credit hire agreement.
Cancellation Policy for Unregulated Agreements
For unregulated Contract Hire agreements (Limited Companies, Limited Liability Partnerships (LLP) and Partnerships with more than four partners) that are cancelled following the “acceptance” of an order, Nationwide Vehicle Contracts will retain the processing fee of £270 inc VAT.
Exercising Your Right To Cancel
If you wish to exercise your right to cancel, you must notify Nationwide Vehicle Contracts of your decision to cancel the contract by a clear statement in writing by post or via email to:
Nationwide Vehicle Contracts
Unit 9 Christie Way
Email: [email protected]
You must include details of your full name, address and details of the order you wish to cancel. Please note, by exercising your right to cancel, you are withdrawing from the brokerage contract and the contract is terminated.
For consumers entitled to a refund of the processing fee, either in part or in full, refunds will be issued within 28 working days from the day on which Nationwide Vehicle Contracts receives the notification of cancellation.
If you have any further questions about our cancellation policy, please call us on 0345 811 9595.