Lease Purchase is a similar form of funding to Hire Purchase with the key difference being the inclusion in the repayments of a final balloon payment.
The balloon payment is based around an anticipated future value of the vehicle and helps to reduce the regular monthly repayments you have during the repayment term. At the end of the fixed term you can:
- Pay the balloon figure and own the vehicle.
- Refinance the balloon figure over a further agreed period.
- Sell the vehicle paying back the balloon figure to the finance company from the sales proceeds.
- Please Note: Under a Lease Purchase agreement responsibility for the balloon figure and repayment thereof lies entirely with the customer
- New cars
- Used cars (vehicles less than 5 years old and less than 60,000 miles)
- Terms available: 24-48 months
| Who Qualifies: