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Lease Purchase is similar to Hire Purchase, and is available for most cars.
You choose how much deposit to put into the agreement, and we arrange to finance the remainder for you over a set period (typically between 24 and 48 months.) At the end of the finance agreement, there is a lump sum payment that you must pay to own the car.
Why choose Lease Purchase?
Fixed monthly payments – the rate of interest you pay remains the same for the whole term of the agreement.
Monthly payments are generally lower than those on a hire purchase agreement.
You can choose the length of the finance agreement to suit your budget.
You will own the vehicle outright once all payments, including the final lump sum. have been made.
There’s no restriction on the mileage you can cover.
Consider the following before choosing Lease Purchase.
While your monthly payments will be lower than an equivalent hire purchase, your equity in the vehicle will be lower at the end of the term when the balloon payment is due.
You are still responsible for paying the final lump sum payment. To do this we can arrange a re-finance of the lump sum at the end of the term, or you can sell or part exchange the car to cover it.
You will be liable for any shortfall, if the car value is less than the final balloon payment.
If you’d like to speak with one of our experienced sales staff then please feel free to call us on 01342 301465