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Lease purchase

Lease Purchase is for people who would like to own a vehicle but do not necessarily have the money to buy one immediately

Lease Purchase is another type of vehicle finance which is ideal for non VAT registered customers who eventually wish to take ownership

Advantages:

  • Low initial payment
  • Fixed mileage contract
  • Ideal for non-VAT registered customers who want eventual ownership of the vehicle
  • Effective budgeting with balloon facility, ownership of the vehicle is acquired once the balloon has been paid in full at the end of the contract
  • Monthly payments are not subject to VAT
  • The vehicle will become a company asset
  • Lease Purchase frees up finance for other aspects of your company
  • The vehicle will appear on your balance sheet and you can record the value against taxable profits

Disadvantages:

  • The balloon payment must be paid for at the end of the contract
  • The vehicle is yours once you have paid the balloon payment. In some cases the balloon can be higher than the residual value
  • Dedicated funding product, which does not include maintenance or any other value added services
  • You must have fully comprehensive vehicle insurance

More Information on Lease Purchase:

It is a flexible product and it is possible to put down a larger initial payment, which has the advantage of reducing the monthly payments. The monthly cost is worked out on the difference between the retail value and the depreciation value plus interest. This means that choosing Lease Purchase for a vehicle which holds its value will work out in your favour.

The main difference between Lease Purchase and Contract Purchase is that instead of having the choice at the end of the contract to purchase the vehicle, which you would have with Contract Purchase, you have already entered into a contract to purchase the vehicle at the end of the contract with Lease Purchase.

This contract is only for those who are absolutely sure that they want to take ownership of the vehicle at the end of the contractual period, and pay any balloon payments attached to the contract. Lease Purchase agreements typically last between 2 and 4 years although the agreement can be settled at any time throughout the contract.

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See What Our Customers Think

Testimonials

I dealt with Kieran , who was very helpful , answered all my questions and made the process a smooth one!

Ive Mattheessens

Peter,

Just wanted to say thanks again for giving us a fantastic service and helping us chose a vehicle and colour that's absolutely amazing! We love it!

Kind Regards,

Andy & Lucy Minas

Andy & Lucy Minas

Peter,

Thanks very much for the great friendly and informative service thus far. It's been a joy dealing with you, you've been clear and always willing to assist and clarify my queries. Making the car buying experience more relaxed and enjoyable.

Thanks,

David

David Nyamatore

Kieran,

The service which I have received was excellent. He kept me informed and promptly answered all my questions in a helpful manner.

I would not hesitate to recommend your company to anyone.

Naveed Zafar

Peter,

The Entire transaction was handled sensitively, professionally, enthusiastically and with a determination to get the best deal for me.

Thank You.

Ian Barrett

Amelia,

Thank you so much for organising a car for my fastidious neighbour and dealing with him in such a professional and patient manner- he was really impressed!

I also want to thank you for the professional and friendly way you have dealt with the contract for my own car which is due for delivery shortly.

Gail Siddall

Peter,

Just a THANK YOU!

Truck delivered all as promised, communication excellent.

Kind regards


Chris

Chris

Alex,

Thank you for managing to find a physical car with the exact specifications my wife wanted, something no other company could achieve. Also, for having patience with a very awkward and hard to please customer! Can't recommend this company highly enough! Fantastic from beginning to end.

Paul Sharpe

Dear John,

I’d like to take this opportunity to thank you for your assistance over the last few years and in particular in dealing with the sourcing of my most recent car.

Having dealt with you to source my previous 2 cars, going back to 2010, I was well aware of your high level of customer care and attention to detail which is very important to me.

During the period of my previous lease, you also regularly monitored my situation, and I therefore had no hesitation to use you to provide my replacement car.

Once again, the service and support you provided was first class, and at all times I was kept informed as to the progress of my order, and also advised regarding the return of my existing car, although this wasn’t actually part of your responsibilities.

I have in the past recommended you to both colleagues and clients, and I will continue to do so based upon your ongoing excellent service and the feedback I also get from others.

Yours Sincerely,

Mark East

MOORE THOMPSON

Mark East

What a service, Stuart and Natasha are superb. Can't recommend these guys enough.

Simon Shakeshaft

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