The Benefits
- Low initial payments
- Low monthly payments
- Full control over resale
- Relieves cash flow
- Full write down allowances
- Sell anytime
Lease Purchase
Lease Purchase is similar to straight Hire Purchase, it can used for private individuals or business users. Lease Purchase is not to be confused with leasing, it is the ideal method for Fleet funding if your company is not V.A.T registered or for any person looking to fund a prestige vehicle.
The rate is fixed at the beginning of the term allowing fixed budgeting regardless of how the rate fluctuates over the period. It can be tailor-made to your requirements and can free your general cash flow.
After an initial deposit, regular monthly payments can be established over anything from a 1 to 4 year period. At the end of the term there is a final lump sum payment (balloon or residual) that is base on the anticipated value of the vehicle at the end of the agreement.
You can either pay the residual leaving the ownership of the car to you, or you can part exchange the vehicle using the balance, after paying the balloon as a deposit on a new car.