Finance Lease
The monthly rental in a Finance Lease is determined by the cost of the vehicle, the period and the estimated future value of the vehicle, which is based on the proposed annual mileage. A payment equivalent to the estimated future value is payable at the end of the contract. At the end of the contract period, the vehicle is sold and the proceeds returned to the lessee.
The key features of Finance Lease are:
- No ownership of the vehicle
- Flexible initial deposit
- Up to 100% of monthly payments offset against profits-for businesses
- Low monthly payments
- VAT on payments
- Option to take early settlement
- No restriction on mileage
