Car Finance lease UK and Car Lease Purchase
Car Lease purchase is sometimes called Car Hire Purchase with a ‘balloon’. The ‘balloon’ is set as a prediction of the future value of the vehicle in accordance with the current mileage and the predicted annual mileage and means that you benefit from a lower monthly payment by offsetting an amount of the capital you are borrowing.
At the end of the agreement you choose from the following options:
- Pay the final payment and own the vehicle outright
- Part exchange the vehicle and choose a new car
You can part exchange your vehicle at any time during the agreement and when taking out a new loan with IFA Car Finance you will benefit from a reduced settlement figure.
To enquire more about Car Lease Purchase call us now on 0845 652 1746