Finance Purchase

Finance Purchase

Finance Purchase is for you, if you want the option to purchase the vehicle at the end of the contract for a guaranteed price or simply hand it back.
The vehicle is registered to you c/o the lease company for the lifetime of the contract –  the title will pass to you if you decide to buy the vehicle at the end of the contract by paying the final instalment.
The vehicle is supplied with 12 months road fund licence, for the first 12 months of your contract. After that, the lease company will continue to provide it but will charge you for it.

What it is: A finance purchase product is where you agree to purchase a vehicle for a fixed payment each month.

Who it’s popular with: People who would like options at the end of their finance agreement.

How long it lasts: Typically 24 to 60 months.

Is it available with maintenance: Yes

Additional points:

  • You make an initial payment when you first take out your contract, followed by fixed monthly payments and a final instalment at the end of the contract (EOC).
  • One EOC option is to use the agency to sell. In this situation, The Lease company will sell the vehicle and retain the proceeds in full settlement of the final instalment.
  • Alternatively, you can trade the vehicle in, but you have to pay the final instalment and take ownership of the vehicle first.

End of Contract Options

  • Pay the final instalment and the vehicle is yours to keep.
  • Arrange to have the vehicle collected.
  • Refinance the final instalment – subject to approval.
  • Excess mileage charge is for each mile you drive over the mileage allowance.