Car finance glossary | L

Lease Purchase

Lease Purchase is the name for a type of car finance agreement where you can reduce the cost of your monthly payments by deferring part of the car's cost to a balloon payment. Unlike a PCP deal, this balloon payment has to be paid.
Lease Purchase Explained >

Leasing

Leasing is when you pay for the use of a car over a set period without legally owning the vehicle. In essence, you are renting the vehicle from the provider, having exclusive use as long as you keep the agreed payments. At the end of the leasing agreement, the car is returned.
Leasing Explained >

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