Lease Purchase

What is Lease Purchase (LP)


Lease Purchase allows you to pay lower monthly payments (much like leasing) during an agreed term, and pay the outstanding deferred payment (Balloon payment) at the end to own the car. It’s an ideal lending option if you’re seeking to own the vehicle in the long-term whilst looking to minimise your monthly outgoings in the short-term.

So as the name suggests, you effectively lease the car (monthly payments over an agreed term) and then purchase it at the end of the agreement (pay the Balloon payment).

Whether you're an individual looking at to lease purchase a car, or a business looking to lease purchase a van, simply complete an Online Application Form, and a customer adviser will be in touch.

3 Steps to get Lease Purchase


Step 1:

Complete a quick online application that does not affect your credit profile. Note: at this stage it doesn't matter if you have yet to find a car, or if you don't know exactly how much you need to borrow.

 

Step 2:

Once your application has been accepted a friendly consultant will make contact with you to discuss your requirements and options. Your consultant will be dedicated to support you throughout the process and to ensure you get the fairest agreement that suits your individual circumstances.

 

Step 3:

Once you have agreed your loan terms you can then choose your car and receive delivery at your chosen address. Your dedicated consultant can also help you find the car you want and work hard to get you the best deal across our trusted national dealer network.

 

Apply for Lease Purchase

Advantages of Lease Purchase


Lease Purchase is the ideal option if you want to lower your monthly payments but still want to own the vehicle at the end of your lending agreement.

Apply online today for a no obligation quote, without affecting your credit score.

Why choose Lease Purchase?

Flexible deposit options to suit you

You choose the length of the finance agreement

Lower monthly payments (part of the cost is deffered)

Fixed monthly payments for easy budgeting

You own the car at the end of the agreement

Lease Purchase finance example


You’re looking to purchase a Mercedes A-Class valued at £9,500, so you opt for a 48-month lease purchase agreement.

You have a £500 deposit, so the amount of credit required is £9,000. Combined with an APR of 9.8%, the total amount payable will be £10,830. You choose to defer 20% of the amount owed, to the end of your contract as a balloon payment.

You pay 48 monthly payments of £195, followed by a balloon payment of £2,076. Once the final payment has been made and any outstanding fees from the lender have been settled, the car is yours.

Apply online today for your free no-obligation quote

Terms and conditions apply. Subject to status, application and credit acceptance.

Representative example: borrowing £7,500 over 48 months with a representative APR of 18.9%, an annual interest rate of 18.9% (Fixed) and a deposit of £0.00, the amount payable would be £223.86 per calendar month, with a total cost of credit of £3,245.06 and a total amount payable of £10,745.06.

Let's get started

Your application only takes a couple of minutes and won't affect your credit score.

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