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Leasing pyramid

Ltd. Auto Simply
Leasing pyramid

«Financing of new cars. A new car from 1991 hryvnia per month». Such tempting formulations attract many financial companies that specialize in buying cars for leasing. You will be gladly met in a car dealership, will be offered "quickly, qualitatively and a minimum of documents". By signing a contract, you get into financial bondage with a monthly payment of significant amounts and double overpayment for the car.

Is such a contract legal? It invites the consumer to join the "group car purchase system". In fact, it is an ordinary financial pyramid.

Such agreements may be declared invalid or terminated in court. And there are two reasons for this:

  1. A clear imbalance between the rights and responsibilities of the consumer and the financial company. The terms of such agreements are considered unfair and contrary to the principle of good faith. In a similar situation, the Supreme Court of Ukraine has already expressed a legal position on the violation of consumer rights.
  2. Change in material circumstances. After all, at the time of the transaction, the consumer clearly did not expect a sharp monthly increase in the amount of payments.
Another argument in the dispute with financial companies is this they do not have a license to provide financial services. It's easy to check. We go to the website of the National Commission for State Regulation of Financial Services Markets ( For example, let's enter the EDRPOU code of one of the financial companies - LLC "AvtoProsto". The code can be found on the seal in the contract. Select the type of financial institution - "Financial Company" and click "Search". In the generated table we pass to the section "Licenses". As you can see, AvtoProsto LLC was registered as a financial company on November 14, 2007, but received a license to administer financial assets to purchase goods in groups only on January 15, 2013. Thus, all transactions made before 15.01.2013 can be declared invalid only on the basis of lack of the necessary license.
Also be sure to check whether the contract for purchase of the car is certified by the notary. In order not to look like absolute fraudsters, some time after paying the set amount, financial companies buy a car on lease and give it to their customers. Please note that such a contract must be notarized, otherwise it has no legal force.

And what about the deposit?  Of course, your financial company is insured by the collateral of the provided car. In such cases, the court must also not forget to file a claim for invalidation of the pledge. The pledge agreement is derived from the main agreement (leasing agreement). Therefore, if the main contract is declared invalid or terminated, the pledge is terminated. After that you will have a full opportunity to dispose of the car.

What to do if you are still involved in such a scam?  Seek protection of your rights immediately. Due to the obvious violation of the current legislation, the grounds for invalidating the contract are more than enough. If the car has not yet been received, you will be able to return the payments you made to the account of the financial company. If the company has already given you a car, the financial company will lose the right to demand from you overcharged several times, and you can keep your car.

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