Lease Purchase

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Our Lease Purchase Plan is similar to Hire Purchase but offers businesses greater flexibility.

Very simply, it provides all the advantages associated with Hire Purchase, including being able to claim writing down allowances and offset interest charges against tax, without having to fund the full cost of the vehicle straight away. In addition, by offering an array of rental patterns, our Lease Purchase Plan provides a far more flexible option than a more conventional hire purchase agreement. Yet, it still combines a low initial outlay with the option of ownership at the end of the contract, providing you with a chance to minimise the drain on your business's capital.

Monthly payments may be further reduced by the inclusion of a deferred final payment. Known as a 'balloon payment', this lump sum is based upon the estimated residual value of the motor vehicle at the end of the facility. The balloon payment, will be set at a level to reflect the use and anticipated mileage undertaken during the agreement. At Motoring Solutions we believe this is important in allowing you to have sufficient equity to put towards a deposit for your next vehicle.

At the end of the agreement you have a choice of either paying the lump sum and keeping the vehicle, or part exchanging it, using any remaining amount towards a deposit on a replacement vehicle.

 

 

For more information Telephone Pat or Jonathan Lawless 9.am to 5.30pm 01335 360763 / 360022 Mon-Fri. Out of hours 07918 756002 Fax: 01335 360088