LP – Lease Purchase
With low monthly repayments and no annual mileage limits, Lease Purchase finance is a popular choice for businesses serving a multitude of sectors.
How does it work?
Again, borrowing any amount from £1,000, you work with our team to set repayments that suit your budget for a period of 2 to 4 years. Monthly repayments tend to be much lower than other finance products, as a significant amount of the credit is deferred to a final repayment at the end of the agreed term. This final repayment amount is calculated after an initial deposit, term and monthly repayment amount are agreed. This finance product is available on new vans or used commercial vehicles up to 7 years old at the end of the agreement term. Flexible deposit options, including 0% deposits, may also be available subject to status.
What happens at the end of your agreement?
You have two options once you come to the end of the agreement term. You can choose to pay the Final Lump Sum Repayment to own the vehicle outright or part exchange the vehicle subject to the settlement of your existing finance agreement. With Lease Purchase, you can drive the latest models, keep monthly repayments equal and low with fixed interest, and avoid the mileage restrictions associated with many finance products.