Lease Purchase can keep your monthly repayments lower by deferring a significant proportion of the amount of credit to the final repayment at the end of the agreement but do not have the option to return the vehicle at the end of the agreement. Agree an initial deposit and how long you want the agreement to run for and the dealer will then calculate your final repayment and confirm your regular monthly repayment. The dealer will submit the finance application to us and subject to your application being approved, you can just drive your car away. The options are:
1. pay the Final Lump Sum Repayment to own the vehicle or
2. part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.
Lease Purchase is often used by customers and limited companies who don’t want to be bound by mileage restrictions. Lease purchase is only available to limited companies on a non regulated basis.