Lease Purchase – Flex Plan
Business vehicle leasing, sometimes known as business contract hire, is a method of finance where you pay a simple fixed monthly payment for the use of vehicle(s) over an agreed period of time, most commonly 2-4 years. This product is a flexible finance plan for business customers.
How does it work?
At the outset of the agreement, we’ll set a lump-sum final repayment. This is referred to as a ‘balloon’ payment.
You pay a deposit and then make reduced monthly repayments based on the outstanding loan balance less the balloon repayment.
At the end of the monthly repayment period you have two options;
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Make the balloon repayment and the car is yours
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Part exchange the car and use any equity as a deposit on your next car