How Lease Purchase works
Lease purchase is similar to Hire Purchase, but is more flexible to meet your changing needs.
Your initial deposit normally forms ‘monthly payments in advance’ and a final lump sum (or ‘balloon’) payment is usually included. The balloon payment is a flexible payment that reduces the amount of the monthly repayments.
After making the balloon payment, you can either keep the vehicle or part exchange it - putting any surplus equity towards a deposit for your next vehicle.
