Lease Purchase is another type of vehicle finance which is ideal for non VAT registered customers who eventually wish to take ownership
It is a flexible product and it is possible to put down a larger initial payment, which has the advantage of reducing the monthly payments. The monthly cost is worked out on the difference between the retail value and the estimated depreciation plus interest. This means that choosing Lease Purchase for a vehicle which holds its value will keep your monthly costs down.
The main difference between Lease Purchase and Personal Contract Purchase (PCP) is that instead of having the choice at the end of the contract to purchase the vehicle, which you would have with PCP, you are committed to buying the vehicle at the end of the contract with Lease Purchase.
This contract is only for those who are absolutely sure that they want to take ownership of the vehicle at the end of the contractual period, and pay any balloon payments attached to the contract. Lease Purchase agreements typically last between 2 and 4 years although the agreement can be settled at any time throughout the contract.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 0333 344 7363
F: 0370 240 3700
Mann Island Finance
Corporate Vehicle Services
5 St Paul's Square
Mann Island Finance Limited is part of the Investec group of companies. Authorised and regulated by the Financial Conduct Authority for credit-related regulated activities. Mann Island Limited is a credit-broker, not a lender. Registered office: Reading International Business Park, Reading, RG2 6AA. Registered in England. Company registration no. 02750308. Business customers may not be protected under the Consumer Credit Act 1974 or the rules of the Financial Conduct Authority.
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