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21st Feb 2019 - By providing honest and independent vehicle and finance solutions; KeyFleet makes our clients lives easier by understanding their needs and developing long term relationships whilst saving them time and money.

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Lease purchase

Lease Purchase is for people who would like to own a vehicle but do not necessarily have the money to buy one immediately

Lease Purchase is another type of vehicle finance which is ideal for non VAT registered customers who eventually wish to take ownership

Advantages:

  • Low initial payment
  • Fixed mileage contract
  • Ideal for non-VAT registered customers who want eventual ownership of the vehicle
  • Effective budgeting with balloon facility, ownership of the vehicle is acquired once the balloon has been paid in full at the end of the contract
  • Monthly payments are not subject to VAT
  • The vehicle will become a company asset
  • Lease Purchase frees up finance for other aspects of your company
  • The vehicle will appear on your balance sheet and you can record the value against taxable profits

Disadvantages:

  • The balloon payment must be paid for at the end of the contract
  • The vehicle is yours once you have paid the balloon payment. In some cases the balloon can be higher than the residual value
  • Dedicated funding product, which does not include maintenance or any other value added services
  • You must have fully comprehensive vehicle insurance

More Information on Lease Purchase:

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 depreciation value plus interest. This means that choosing Lease Purchase for a vehicle which holds its value will work out in your favour.

The main difference between Lease Purchase and Contract Purchase is that instead of having the choice at the end of the contract to purchase the vehicle, which you would have with Contract Purchase, you have already entered into a contract to purchase 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.

Check out our current special offers below...

Business contract hire Audi A3, Saloon
Audi A3 30 Saloon
1.0 TFSI 116 Black Edition 4Dr Manual [Start Stop]
£271.36 + VAT monthly rental
£271.36 + VAT initial rental
Business contract hire
Contract term: 36 months
Rental profile: 1 + 35
Annual mileage: 10000
1 litre Petrol Manual
+ compare
Business contract hire BMW 1 Series, Hatchback
BMW 1 Series 118 Hatch
1.5 i 136 M Sport Shadow Edition 5Dr Manual [Start Stop]
£232.63 + VAT monthly rental
£1395.78 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 8000
1.5 litre Petrol Manual
+ compare
Business contract hire Kia Sportage, SUV / 4x4
Kia Sportage SUV 2wd
1.6 GDI 130 2 5Dr Manual [Start Stop]
£189.99 + VAT monthly rental
£1709.91 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 36 months
Rental profile: 9 + 35
Annual mileage: 8000
1.6 litre Petrol Manual
+ compare
Business contract hire Audi A5, Coupe
Audi A5 40 Coupe
2.0 TFSI 190 S line 2Dr S Tronic [Start Stop]
£256.03 + VAT monthly rental
£1536.18 + VAT initial rental
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 10000
2 litre Petrol Automatic
+ compare
Business contract hire Land Rover Range Rover Evoque, SUV / 4x4
Land Rover Range Rover Evoque SUV FWD
2.0 eD4 150 SE Tech 5Dr Manual [Start Stop]
£289.90 + VAT monthly rental
£2609.10 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 36 months
Rental profile: 9 + 35
Annual mileage: 10000
2 litre Diesel Manual
+ compare
Business contract hire Volvo S90, Saloon
Volvo S90 Saloon
2.0 T4 190 Momentum 4Dr Auto [Start Stop]
£234.27 + VAT monthly rental
£1405.62 + VAT initial rental
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 8000
2 litre Petrol Automatic
+ compare
Business contract hire Renault Clio, Hatchback
Renault Clio Hatch
0.9 TCe 75 Play 5Dr Manual [Start Stop]
£144.00 + VAT monthly rental
£864.00 + VAT initial rental
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 10000
0.9 litre Petrol Manual
+ compare
Business contract hire Vauxhall Corsa, Hatchback
Vauxhall Corsa Hatch
1.4 i 90 SRi Nav 5Dr Manual
£149.38 + VAT monthly rental
£896.28 + VAT initial rental
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 8000
1.4 litre Petrol Manual
+ compare
Business contract hire Ford Focus, Hatchback
Ford Focus Hatch
1.0 T EcoBoost 125 ST-Line 5Dr Manual [Start Stop]
£199.39 + VAT monthly rental
£1196.34 + VAT initial rental
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 10000
1 litre Petrol Manual
+ compare
Business contract hire Skoda Octavia, Estate
Skoda Octavia Estate
2.0 TSi 245 vRS 245 5Dr DSG [Start Stop]
£230.82 + VAT monthly rental
£1384.92 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 10000
2 litre Petrol Automatic
+ compare
Business contract hire Volkswagen Touareg, SUV / 4x4
Volkswagen Touareg SUV
3.0 V6 TDI 286 R-Line 5Dr Tiptronic [Start Stop]
£407.83 + VAT monthly rental
£2446.98 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 10000
3 litre Diesel Automatic
+ compare
Business contract hire Volkswagen Golf, Hatchback
Volkswagen Golf Hatch
1.6 TDI 115 Match 5Dr Manual [Start Stop]
£198.14 + VAT monthly rental
£1188.84 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 24 months
Rental profile: 6 + 23
Annual mileage: 8000
1.6 litre Diesel Manual
+ compare
Business contract hire Volkswagen Arteon, Hatchback
Volkswagen Arteon Fastback
1.5 TSI EVO 150 R-Line 5Dr DSG [Start Stop]
£265.73 + VAT monthly rental
£1594.38 + VAT initial rental
This vehicle is in stock
Business contract hire
Contract term: 36 months
Rental profile: 6 + 35
Annual mileage: 8000
1.5 litre Petrol Automatic
+ compare

Have you seen our latest blog post?

Big savings for fleet leasing with KeyFleet’s “Marketplace service

KeyFleet provides the most competitive contract hire and leasing quotes for UK businesses As... read more

Posted on 22nd February 2018 at 11:38 AM

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