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.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 029 2022 6406
30 Kingsland Road
Bay Vehicles Ltd trade under Hanborough Enterprises Ltd’s brand name of Platinum Funding, part of the Bridle group of companies. We are an Appointed Representative (Firm Reference Number 498883) of Hanborough Enterprises Ltd who is authorised and regulated by the Financial Conduct Authority for consumer credit activities (Firm Reference Number 631448). You can check this on the FCA Register by visiting www.fca.org.uk or by contacting the FCA direct on 0300 500 8082. We are an independent vehicle finance broker and we operate with a panel of carefully selected funders. We may receive commission and/or other benefits from the finance provider if you enter in to an agreement with them. Bay Vehicles Ltd registered office and trading address is 30 Kingsland Road, 5 Exeter Close, Canton, Cardiff, South Glamorgan CF5 1HU, Vat no 527 8788 40, Data Protection Licence ZA151133
We are a Credit Broker and not a Funder or a Lender
Pictures are for illustration only and may not be the exact model. Finance is subject to status. Calls are recorded for training and quality purposes
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