Lease Purchase is another type of vehicle finance which is ideal for non VAT registered customers who eventually wish to take ownership
It is a flexible product and it is possible to put down a larger initial payment, which has the advantage of reducing the monthly payments. The monthly cost is worked out on the difference between the retail value and the depreciation value plus interest. This means that choosing Lease Purchase for a vehicle which holds its value will work out in your favour.
The main difference between Lease Purchase and Contract Purchase is that instead of having the choice at the end of the contract to purchase the vehicle, which you would have with Contract Purchase, you have already entered into a contract to purchase the vehicle at the end of the contract with Lease Purchase.
This contract is only for those who are absolutely sure that they want to take ownership of the vehicle at the end of the contractual period, and pay any balloon payments attached to the contract. Lease Purchase agreements typically last between 2 and 4 years although the agreement can be settled at any time throughout the contract.
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Silverstone Fleet Management
The Old Hay Barn
Preston Lodge Court
Registered Office : Office 5, The Old Hay Barn, Preston Lodge Court, Preston Deanery, Northampton, NN7 2DS
| Registered in England and Wales Company Reg No : 8079695 | Data Protection No : Z3311594 | VAT No : 138056808 |
Silverstone Fleet Management is a trading name of Silverstone Corporation Limited. Silverstone Corporation is a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 674485
Silverstone Fleet Management are a member of the British Vehicle Rental and Leasing Association (BVRLA). Registered No : 1918
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