Following is a sample written letter of vehicle lease termination. Leasing is a facility given to the people to buy new products on fewer amounts and then pay the total amount in easily payable installments. Banks are facilitating their customers for auto vehicles as well, but this facility is followed by some terms and conditions. Failure to fulfill that terms and conditions may lead to termination of that contract; it may lead to return the auto vehicle to bank.
Vehicle Lease Termination Letter
St 45 house no 121
Subject: Vehicle lease termination letter
With sorry and sadness, this letter is a formal notice from the bank “National Bank of Singapore”, to termination of your lease facility of auto car no LEA 345, model 2018, Black Honda civic. We have sent you three warning letters earlier, failure to contact and payments of installments for last three month leading us toward this legal action. The NBS terminate a vehicle lease so delivered the auto vehicle back to bank within 15 days. If you failed to deliver the vehicle within the given time limit a serious action would take place against you. It may be a arrest warrant against you and it is a non bale able offense. You would be charge of fine of $7600 according to our terms and conditions.
As you received this letter, contact us as soon as possible and report us about late installments else you would not be entertained. You don’t want to face the consequences of particular obligation then report us within the given time period. Your action would be appreciated and if you report us I, make sure we would make some soft corner for you.
Senior Branch Manager
National Bank of Singapore