Lease Purchase allows you to pay lower monthly payments (much like leasing) during an agreed term, and pay the outstanding deferred payment (Balloon payment) at the end to own the car. It’s an ideal lending option if you’re seeking to own the vehicle in the long-term whilst looking to minimise your monthly outgoings in the short-term.
So as the name suggests, you effectively lease the car (monthly payments over an agreed term) and then purchase it at the end of the agreement (pay the Balloon payment).
Whether you're an individual looking at to lease purchase a car, or a business looking to lease purchase a van, simply complete an Online Application Form, and a customer adviser will be in touch.
Step 1:
Complete a quick online application that does not affect your credit profile. Note: at this stage it doesn't matter if you have yet to find a car, or if you don't know exactly how much you need to borrow.
Step 2:
Once your application has been accepted a friendly consultant will make contact with you to discuss your requirements and options. Your consultant will be dedicated to support you throughout the process and to ensure you get the fairest agreement that suits your individual circumstances.
Step 3:
Once you have agreed the loan terms, your dedicated consultant can also help you find the car you want and will work hard to get you the best deal across our trusted national dealer network.
Lease Purchase is the ideal option if you want to lower your monthly payments but still want to own the vehicle at the end of your lending agreement.
Apply online today for a no obligation quote, without affecting your credit score.
Why choose Lease Purchase?
Flexible deposit options to suit you
You choose the length of the finance agreement
Lower monthly payments (part of the cost is deffered)
Fixed monthly payments for easy budgeting
You own the car at the end of the agreement
Rates start from 9.9% APR.
Representative example: borrowing £7,500 over 48 months with a REPRESENTATIVE APR of 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £238.10 per calendar month, with a total cost of credit of £3,928.80 and a total amount payable of £11,428.80.
Rates may differ as they are dependent on individual circumstances. Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.
Apply online today for your free no-obligation quote
Terms and conditions apply. Subject to status, application and credit acceptance.
You’re eligible for lease purchase if you’re aged between 18-75 and hold a driving licence. The easiest way to check your eligibility is through our quick and easy Eligibility Checker. You’ll receive a decision within minutes, and it won’t affect your credit score.
Lease purchase may be suitable if you’re looking to own the vehicle at the end of your contract but want to keep your monthly payments as low as possible. Unlike PCP, you have the flexibility to choose the amount you wish to defer - within the lender's criteria of a Balloon Payment. At the end of the contract, to own the vehicle, you have the option to pay the final balloon payment or refinance it; there’s no option to return it to the lender.
A good or excellent credit score is usually required for a car leasing agreement, but if you have a less-than-perfect credit score - don’t worry. Hire Purchase (HP) can be a great alternative and is usually more accepting to a wider range of credit profiles. With HP, your payments are still fixed and spread evenly over the contract period, with the additional benefit of having no mileage limits.
A deposit is not always required, but it is an effective way of reducing your monthly repayments. And if you don’t have the funds to hand for a deposit, you can always use your current vehicle in Part-exchange. Trading in your car removes the hassle of selling it yourself and when your new car arrives it helps make for a smoother transition switching from one to the other.
Why not find out how much your vehicle is worth using our Car Valuation Tool?
Having a good or excellent credit score will certainly help your application, but you can still get a lease purchase agreement with a less-than-perfect credit score. Creditplus also work with a number of lenders who offer tailored finance packages for individuals with a bad credit history, even if you’ve been refused car finance elsewhere. Check Your Eligibility without affecting your credit score and receive a decision in just a few minutes. Find out more about our bad credit car finance options.
You’re eligible for lease purchase if you’re aged between 18-75 and hold a driving licence. The easiest way to check your eligibility is through our quick and easy Eligibility Checker. You’ll receive a decision within minutes, and it won’t affect your credit score.
Lease purchase may be suitable if you’re looking to own the vehicle at the end of your contract but want to keep your monthly payments as low as possible. Unlike PCP, you have the flexibility to choose the amount you wish to defer - within the lender's criteria of a Balloon Payment. At the end of the contract, to own the vehicle, you have the option to pay the final balloon payment or refinance it; there’s no option to return it to the lender.
A good or excellent credit score is usually required for a car leasing agreement, but if you have a less-than-perfect credit score - don’t worry. Hire Purchase (HP) can be a great alternative and is usually more accepting to a wider range of credit profiles. With HP, your payments are still fixed and spread evenly over the contract period, with the additional benefit of having no mileage limits.
A deposit is not always required, but it is an effective way of reducing your monthly repayments. And if you don’t have the funds to hand for a deposit, you can always use your current vehicle in Part-exchange. Trading in your car removes the hassle of selling it yourself and when your new car arrives it helps make for a smoother transition switching from one to the other.
Why not find out how much your vehicle is worth using our Car Valuation Tool?
Having a good or excellent credit score will certainly help your application, but you can still get a lease purchase agreement with a less-than-perfect credit score. Creditplus also work with a number of lenders who offer tailored finance packages for individuals with a bad credit history, even if you’ve been refused car finance elsewhere. Check Your Eligibility without affecting your credit score and receive a decision in just a few minutes. Find out more about our bad credit car finance options.
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Jonathan Cross
Martin Dear
James Daniel Forrest
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