Lease Purchase Finance

Lease Purchase is more a specialist agreement than a PCP, typically available on cars of higher value, but requires qualification from the lender. This more exclusive access means typically the balloon is as unique as the vehicle you are financing.

Our team would work with the lender to secure a balloon for your vehicle, then build a finance package to suit your personal circumstances, this isn’t your off-the-shelf finance!

This more specialised kind of finance allows you to defer some of the balance with a balloon, reducing payments over a regular Hire Purchase. As a more exclusive option, this product can be much more personalised to suit your situation, and in some cases allows you to finance an older vehicle, that may no longer qualify for PCP, with a balloon payment to reduce the monthly payments.

Lower monthly payments are usually the most attractive aspect of a Lease Purchase agreement — you can use our state-of-the-art finance calculator to get quotes on qualifying vehicles or speak with our experienced team to discuss something more bespoke.

Unlike a regular Hire Purchase, Lease Purchase provides flexibility at the end of your finance deal. You can:

Sell the car to settle the remaining loan balance and finance deal.

Refinance the balloon payment and extend your finance agreement.

Complete the final balloon payment and become the vehicle owner.

This structure offers both flexibility and a minimum future value through fixed balloon payments, so your final payment remains stable. If you choose to make the balloon payment, you gain full ownership. However, failing to settle the finance balance in full may impact your credit rating, affecting future car finance options.

You cannot hand the car back to the lender like in a PCP agreement.

Lease Purchase is only available on cars over a certain value, and to customer who pass qualification requirements from the lender, our team can discuss these with you to find you the best option.

You will not own the vehicle until the final balloon payment is made.

At Magnitude Finance, we take the time to understand your goals and plans for the future. We don’t just source exclusive deals from our top-quality panel of lenders but ensure that the finance you choose is tailored to your needs.

Because of this, we do take multiple factors into account before submitting to our panel of lenders on a lease purchase agreement, such as your individual circumstances and credit record. Our expert team can perform a soft credit check to give you an idea of approval probability before submitting to a lender for a hard search.

When it comes to the vehicle itself, we consider your annual mileage, monthly budget and the car price; we’ll only make recommendations based on your individual circumstances and make efforts to make sure that you’ll never be left with unexpected costs.