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Finance Types

Lease Purchase

With Lease Purchase you purchase the vehicle over an agreed term this can range between 12 to 48 months, deferring an amount of the purchase cost by way of (balloon) lump sum payment, this initially is equal to or less than the expected sales proceeds at end of contract, this then allowing for lower monthly payments than with straight hire purchase, there is no VAT involved with a lease purchase agreement on a car.

Benefits

• Allowing the lessee to own the vehicle at lease end
• Lower deposit

• There are no restrictions on the mileage over the term of contract but you will pay depreciation for miles travelled.