Lease Purchase is a versatile option for users wanting for monthly loan repayments that are easy to manage.
Your base monthly payments are computed based on a set contract length, expected miles, and expected car value at the conclusion of the term. Your buyer could either purchase the truck by settling the residual value, or sell the truck and cover the residual amount, or return it at the conclusion of the payment period.
It is a straightforward method of financing the purchase of a new or used car. You (typically) pay a down payment, then monthly payments until the vehicle's worth are paid off, at which point ownership is given to you.
In Finance Lease you have a long-term customizable leasing agreement that enables you to use a commercial truck without the worries of ownership. Finance Lease agreements are divided into two categories: 'balloon' payback and full payout.
A straightforward and flexible financing option that divides the cost into fixed monthly payments and transfers possession of the truck to you at the expiration of the contract.
This can be an option for pick-up trucks, and it's effectively a type of long-term renting. It's a common way of company truck funding and rising as a sort of personal leasing.
A minimal down payment is required, backed by set monthly instalments. You can either return the vehicle or pay a lump sum payment (Balloon Payment) to keep it at the conclusion of the term.
If you wish to own the truck at the end of the agreement, a Conditional Sale is a perfect option. Typically, you pay a cash deposit or trade in your previous vehicle, then pay predetermined monthly instalments over a certain period of time. There really are no restrictions on mileage, maintenance obligations, or additional fees, and possession of the truck is transferred at the end of the contract with no option to return it.