Lease purchase Overview
This facility is an extension of the hire purchase agreement but with an offset payment due at the end of the term. Once again available to private individuals or a business, deferring an element of the finance (balloon payment) until the end reflects in a reduced monthly payment. This facility works well when a vehicle has a potentially strong residual value. Available from 24 to 48 months.
How Lease Purchase Works
- 1
Choose the car you wish to purchase.
- 2
Agree the required deposit, length of term & balloon payment
- 3
You pay the set monthly payments which have been agreed.
- 4
Pay the final balloon payment at the end of the agreement and then you get full ownership of the vehicle.