Lease Purchase (LP): defer some of the total cost to the end of the agreement, called a balloon payment. Unlike Personal Contract Purchase (PCP), you have to pay the balloon payment at the end as there is no option to hand the vehicle back.
• Fixed monthly payments
• Fixed interest rate means interest doesn’t fluctuate
• Can defer up to 31% until to end of the agreement
• Balloon payment must be paid at the end • No annual mileage limits