Lease Purchase is another type of vehicle finance which is ideal for non VAT registered customers who eventually wish to take ownership
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.
WRK Solutions Ltd trading as Vehicles4work & Car Lease Shop are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 673783
Company Registration Number: SC377900 | Data Protection No : ZA096949 | VAT No : 106370738
Registered Office : Bank Chambers 31 The Square Cumnock KA18 1AT
Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.
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