Lease Purchase is another one of the many solutions that we offer as a finance option at Leodis Financial Ltd.
This solution can also be referred to as Hire Purchase with a balloon payment and can be a great alternative for you to reduce the monthly payments that the usual Hire Purchase option demands.
Like PCP, this option gives you the deferred final payment (also known as the balloon payment) and is due to be paid at the end of the agreement. This final payment is based on what the future value of the car is expected to achieve.
Deposits are usually between 10% and 50% of the value of the car and like Hire Purchase, you can use your current vehicle towards the deposit (if the car has finance remaining on it, the equity in your existing vehicle once the finance has been settled will go towards the deposit).
There are a number of options to choose from at the end of your Lease Purchase Agreement:-
The most straight forward option is if you pay the balloon payment, the vehicle then becomes yours.
You can use any remaining equity in the vehicle towards your next vehicle once the balloon has been paid, meaning you own the vehicle.
If, for example, you got a company car or no longer needed a vehicle, you could settle the balloon payment and sell the vehicle, meaning you can keep all the equity achieved in the sale.
You could look to refinancing the balloon payment.
HERE’S WHY YOU CAN HAVE CONFIDENCE IN LEODIS FINANCIAL
We are an independent reputable finance broker based in the UK and we are approved by SAF. Our team is hand selected so we can therefore ensure they work to the same exacting standards and will work hard to meet your needs for the purchasing of your vehicle. We always put our customers at the heart of our business.
