A more flexible option for individuals
This is the most popular type of lease for you as an individual if you would like the option of owning your leased car or van at the end of the lease. You lease it for a set period of time, and have the option to buy it outright or hand it back at the end.
This type of agreement operates in a similar way to Personal Contract Hire, with the major difference that individuals have the option to buy the vehicle at the end of the term for an amount which is guaranteed at the start of the agreement. This final payment would make you the legal owner of the vehicle, or alternatively the vehicle can be returned to the leasing company with nothing more to pay except any charges for excess mileage or wear and tear.
Monthly payments are fixed at the start of the lease term, and stay the same regardless of changes in interest rates or the used car market. The leasing company owns the vehicle (and therefore carries the associated risks) until it is returned or a final payment to buy it outright is made. Payments are determined from the purchase price of the vehicle, duration of lease, anticipated contract mileage and final “buy” payment.
Road Tax is included for the duration if full maintenance is taken, or the first year if not. Discounted servicing is now bookable online via our partners at Halfords, or fixed cost maintenance is available via the 'with maintenance' option. Breakdown recovery and a host of other services are also included.
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