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Lease Purchase

Lease Purchase or LP, also known as Balloon HP is a fantastic alternative to buying outright, as it provides customers an affordable way to pay for a car over a longer period of time. While Lease Purchase has many similarities with Hire Purchase, this form of finance has a significant difference. Monthly payments are, on average much lower than HP, with a final "balloon payment". Unlike PCP, there is no return option at the end of the Lease Purchase agreement, so the balloon payment must be paid for, either in cash or via a second finance agreement.

At Saxton 4x4, we understand that buying a premium 4x4 or prestige vehicle is a significant investment. That's why we offer Lease Purchase (LP), also known as Balloon HP, as a flexible and affordable finance option to help you own your dream car.

What is Lease Purchase?

Lease Purchase is a type of car finance that allows you to spread the cost of the car over a longer period, with lower monthly payments and a larger final payment, known as a "balloon payment".

Benefits of Lease Purchase

Lower Monthly Payments: With LP, you'll have lower monthly payments compared to other finance options, making it more affordable on a month-to-month basis.
Flexible Terms: You can choose the length of your agreement to suit your budget. The term typically ranges from 1 to 5 years.
Ownership: At the end of the agreement, after the balloon payment is made, you'll own the car outright.

How Does Lease Purchase Work?

Deposit: The process starts with a deposit. The amount can vary, but it's usually around 10% of the car's value.
Monthly Payments: The remaining balance, minus the balloon payment, is divided into equal monthly payments over the agreed period.
Balloon Payment: A final balloon payment is made at the end of the agreement. This is a larger sum that clears the remaining balance.
Ownership: Once the balloon payment is made, the car is yours.

At Saxton 4x4, our team of finance experts will guide you through the process, ensuring you understand all the details of your Lease Purchase agreement. We're committed to providing a smooth and hassle-free car buying experience.

Visit our dealership today or browse our online inventory to find your perfect car. At Saxton 4x4, we're not just selling cars; we're delivering dreams.

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