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How does Lease Purchase work?
Once you have chosen your vehicle, you need to work out how much you can afford as an initial payment, how long you want your agreement to be, and how many miles you drive each year.
This is then used to calculate your monthly payments and final balloon payment.
When your agreement comes to an end you need to pay the final balloon payment in order to keep the vehicle, or trade in your vehicle to contribute towards paying off the balloon payment.
Lease Purchase is different to Solutions PCP as your final payment is not optional, meaning you have less options at the end of your agreement.
Lower monthly payments
By deferring a chunk of the amount you finance to the end of the contract, it means your monthly payments will be lower than if you spread the whole cost across the months.
You can own the vehicle
When you have made all the repayments, including the final balloon payment at the end of the agreement, then the vehicle is yours to keep and continue enjoying.
Ability to financially plan
As you can break down the cost of a new vehicle into manageable chunks you can plan with confidence for the next 3-5 years.
The balloon payment that comes as part of a Lease Purchase agreement suits certain lifestyles, It may be the best option for you if:
You want to defer some of the cost of the vehicle to the end of the agreement
You want to own the vehicle
You want lower monthly repayments
You want to spread the cost of a new vehicle
At Volkswagen Financial Services we work with all the brands of the Volkswagen Group, so you can be sure to find the right vehicle from the range of brands below:
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