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Personal and Private Lease Purchase

West Midlands Vehicles experts in personal and private lease purchase agreement

Personal and Private Lease Purchase is an agreement designed to offer dedicated vehicle funding where the customer wishes to purchase the vehicle. It is purely a finance package, and does not include maintenance or other added-value services (such as are available through Contract Purchase).

The customer is liable for the full value of the vehicle and has no option to return it at the end of the agreement. Monthly payments are not subject to VAT.

The vehicle is registered in the name of the customer, and where this is a company, the vehicle will appear on the balance sheet, and Writing Down allowance will be available.

Making the best lease purchase choice at the end of your contract

At the end of your Personal and Private Lease Purchase contract term there are various options open to you.

You will need to decide whether you wish to pay your 'Balloon' payment now or to defer the purchase of your vehicle further by extending the finance for a further period.

To help you better understand how Lease purchase works and what to do at the end of your contract please take a look at this diagram.

If you are considering changing your vehicle, you may wish to take a look at the other funding options offered.

Westmid is ready to accept your decision and offer you any advice you may need to ensure that your are making the best personal choice. Please contact us or complete an online enquiry form.

You can view our comparison chart to weigh up the different options available.