Lease Purchase

All the benefits of Hire Purchase but with the additional benefit of a balloon payment.
For all enquiries please contact us on
(01228) 59 59 39

What is a lease purchase agreement?

Lease Purchase offers many of the benefits of Hire Purchase with the addition of deferring part of your loan until the end of the agreement. This is a larger final payment which is sometimes referred to as a balloon payment. We offer Lease Purchase on vehicles up to 4 years old over a maximum period of 4 years.

The value of the payment is calculated on the anticipated value of the vehicle at the end of the loan based on the exact model and number of miles you’ll cover during the agreement.

This has the affect of lowering your monthly repayments and may allow you to buy a newer or more expensive vehicle when compared to a Hire Purchase loan over the same period.

At the end of your loan, if you wish to keep your vehicle you simply have to pay the final payment. You can either pay this in a one off lump sum or we offer our customers the ability to refinance the balloon payment over a period which fits your budget. If you want to change your vehicle rather than paying the final payment, you can part exchange it and use the value of the vehicle to repay the final payment and any remaining equity can be used as a deposit towards your next vehicle.

Although you will be the registered keeper of the vehicle, you won’t legally own it until you have made all of your payments to ourselves. Once you have finished making your payments, including the option to purchase fee, the vehicle becomes yours.

If you’ve seen a vehicle and are interested in a Lease Purchase quote, you can give our team a call and we’ll be happy to provide you with some quotes tailored to your circumstances. We also have an online calculator where you can work out your monthly payments before applying for finance through our secure application form. You’ll just need to know the exact registration number before you apply. Once you’ve applied, one of our team will be in touch with you to progress your application.

Every application we receive is underwritten by our experienced team of underwriters who combine their years of experience with modern technology to provide a personal, friendly and professional service.

You don’t just have to take our word for it though, you can see what our customers say about us by reading their reviews on our Feefo page.

If you want to know more about Lease Purchase or if you’ve seen a vehicle and would like a quote, contact your local team on 01228 595939 or request a quotation.