LEASE PURCHASE/HIRE PURCHASE
A conventional / traditional funding product which has some strong advantages for customers.
A product for either business or personal customers.
- Ideal for Non-Vat Registered Companies
- Gives ownership at end of term
- Effective budgeting
- Optional residual value (not guaranteed) reduces monthly rental
THINGS TO REMEMBER
- Customer must pay all instalments to own
- Balloon/Residual must be repaid
- Vehicle prices vary over time and vehicle could be worth more/less than predicted
- All Vat payable up front on commercials