Lease Purchase (HP with Balloon)
Lower monthly payments with a guaranteed final balloon
Lease Purchase lets you spread the cost with fixed monthly repayments and a larger final payment (the balloon). It’s popular on higher-value cars and gives you clear, flexible end-of-term choices.
How Lease Purchase Works
- Choose your car & deposit — set your term (often 24–48 months) and mileage expectations.
- Pay fixed monthly instalments — your payments are reduced because a portion is deferred to the end.
- At the end — either sell the car to settle, refinance the balloon, or pay the balloon to own it outright.
Unlike PCP, Lease Purchase doesn’t include a hand-back option. You’ll need to settle the balance at the end.
Things to Consider
- No return option — unlike PCP, you can’t simply hand the car back.
- Ownership transfers only after the final balloon is paid in full.
- Eligibility — availability can depend on vehicle value and lending criteria.
Compare Your Options
| Feature | Lease Purchase | PCP | HP |
|---|---|---|---|
| Monthly payments | Lower (balloon deferred) | Lower (balloon/GMFV deferred) | Higher (finance full value) |
| End of agreement | Sell, refinance, or pay balloon to own | Keep (pay balloon), part-exchange, or return | Own the car automatically |
| Mileage/condition rules | Not applicable (no hand-back) | Apply if returning | Not applicable |
Subject to status and lender approval. Your rate, term, vehicle, and deposit affect monthly costs.
Get in touch:
Your personal concierge specialist is waiting for your call or email:
Get In Touch
- 0191 250 4575
- [email protected]
Address
- Hub 26, Lawrence House, Riverside Dr, Cleckheaton BD19 4DH
Hours
- 9:00AM - 5:30PM Weekdays
- 10:00 AM - 4:00pm Sat/Sun
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