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Lease Purchase (LP)

What is Lease Purchase Car Finance?
Also known as Hire Purchase with a Balloon, Lease Purchase is an ideal way to fund your vehicle purchase if you want the benefit of lower monthly payments compared to a standard Hire Purchase deal.

To reduce your monthly instalments, a deferred final payment, or balloon, is offset to the end of the agreement. This allows you to pay a lump sum to purchase the car in full, if you choose to do so.

The amount of the deposit is flexible, typically between 10% – 50% of the car’s price. The deferred balloon is calculated on the estimated future value of the car.
Benefits of Lease Purchase Car Finance
Low Deposit
allowing you to free up personal or business funds.

Set Monthly Payments
perfect for budgeting.

A Superior Vehicle
lower payments can help you choose a higher specification vehicle.

Flexibility
no mileage restrictions.

Ownership
you own the vehicle at the end of the agreement.

Tax Benefits
tax allowances for business users.
Things to know about a LP product
At the end of the agreement lease purchase offers a number options:
  • Purchase the car, by paying the final payment.
  • Part-exchange the car, using any equity towards your next vehicle.
  • Sell the car privately, retaining any equity once the final payment has been paid
    Refinance the final balloon payment.

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Thomas House
84 Eccleston Square
Pimlico
London
SW1V 1PX 0330 1335108

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