Lease Purchase

An agreement designed to provide vehicle funding where the customer wishes to purchase the vehicle. It is a simple financial package, and does not allow inclusion of an maintenance package or any other added-value services.

The customer is responsible for the full value of the vehicle and there is no option to return the vehicle to the contract provider at the end of the agreement. Monthly payments are not subject to VAT.

Vehicle are registered in the name of the customer, and where this is a company, the vehicle will appear on the balance sheet, and Writing Down allowance will be available.

The "Balloon payment" due at the end of the contract can be deferred by extending the finance for a further period.