Your business uses the vehicle while paying a rental rather than a repayment. The monthly rental is determined by the initial cost of the vehicle (excluding VAT), the period of the finance lease and the residual value (the estimated future value of the vehicle at the end of the finance lease period once depreciation is taken into account), plus interest.
Although you never take ownership, at the end of the finance lease contract a payment equivalent to the residual value is payable. Usually this means that the vehicle is sold and a proportion of the proceeds of the sale are returned to the lessee.
Most finance lease companies will offer a number of payment options to suit your cash flow. You can lower the monthly rental with a balloon payment at the end of the contract, or you can pay the entire cost in monthly rentals (normally referred to as a fully amortised Finance Lease), in which case you may be able to extend the finance lease with a secondary rental (sometimes called a peppercorn rental).
Posted on 11th July 2017 at 12:11 PM
Posted on 10th July 2017 at 2:29 PM
Posted on 7th July 2017 at 12:12 PM
Posted on 29th June 2017 at 7:44 PM
Posted on 27th June 2017 at 1:43 PM
A big thank you to the CarLease247 team. Leasing the Tesla proved to be a bit more of a challenge than other cars as the services offered by Tesla to make the ownership experience a good one have to be managed through the whole process. CarLease247 really helped here.
Thank you to the folks at carlease247 for helping me navigate the process of leasing my new car. The process does involve quite a few different businesses (dealer, finance company etc) but Ross made sure I was looked after along the way!!
Thanks Julie for all your efforts. Brilliant service.
I thought the process was a little bit more complicated than I thought, but not overly so. The team at carlease247 guided me through the process and posted to the things to look out for.
Just wanted to say thanks for all the hard work that you have put into getting us exactly the car that we wanted. Keeping us informed over a bank holiday was a special touch!
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 0333 4441 247
3 Wharf House
CarLease247 are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 656331
Registered in England & Wales with company number : 08419719 | Data Protection No : ZA178151 | VAT No : 180488684
Registered Office : Suite 1, Second Floor, Verdene House, Bournemouth BH7 7DU
CarLease247.com - Car and Van Lease Comparision Site for Personal and Business users of Cars and Vans within the UK. We compare the best lease deals for you!!
Copyright © 2017 CarLease247, All rights reserved.