You need to keep a close eye on those leasing contracts. It can be very easy for them to silently slide by their renewal date with the leasing company just continuing to take the money. So it was for Sam Samra who runs a Premier store in Rugby.
“I took over the shop five years ago and took out a leasing contract for a Hanco Link machine with Shire Leasing. The contract finished in June 2006,” he says.
However, Shire continued to take £187 a month for another two-and-a-half years – adding up to something like £4,500 more than it should have. Sam’s accountant eventually picked it up and Sam contacted Shire, which claimed it had written to Sam when the contract had finished but then rolled it over when it received no cancellation confirmation.
Sam has no recollection of such
a letter and is now in negotiation again with Shire Leasing. I hope I am wrong, but I fear he doesn’t stand much of a chance of getting any of this money back.
Hanco has not been keen to get involved because it too had a contract with Shire Leasing – that’s how they work. Hanco puts the machine in place but after that, it is turned over to the third party and all that third party wants is for you to continue to pay the monthly amount.