When you lease a car through the The Electric Car Scheme, you agree to a lease period which is usually 2 to 4 years. If you want to opt out before the end of the lease, there are early termination fees set by the lease provider. This is usually 50% of the remainder of the lease.
Luckily, The Electric Car Scheme has the best in market early termination protection, which protects both the employee and employer!
When am I protected?
If you've left the company, you are usually protected under our Enhanced Resignation Protection. However, if you stay with the company and choose to return the car, you will be liable for any early termination fees set by the lease provider.
The table below details when you are protected by The Electric Car Scheme.
If you are already leasing a car through the Electric Car Scheme and you are thinking about returning it early, please check out this detailed guide: What happens if I resign from my role?