Mitsubishi Outlander 2.4l Plug-In Ev Intense Business 2 Seat

A van lease purchase agreement is for those who know from the outset that they want eventual vehicle ownership.​

The client pays an initial deposit, followed by a series of monthly payments and then a final balloon payment.​

Advantages

• Eventual ownership of the vehicle.

• Allows the purchase cost to be spread over time.

• No mileage restrictions.​

Disadvantages

• Responsibility for all servicing costs, breakdown costs, motor tax costs, and other associated costs.

• Responsibility for disposal of the vehicle at the end of its useful life cycle.

• Vehicle has already substantially depreciated before ownership accrues.

• Final balloon payment can be larger than the residual value of the vehicle.

Long Term Van Leasing

Long-term van leasing is a more ‘traditional’ type of van leasing contract. The client agrees to lease a vehicle for a fixed monthly sum for a specified term. The client assumes responsibility for all other costs involved, such as servicing and repairs.​

This is the preferred option for clients who may wish to purchase the vehicle when the lease term expires. It can also be the better option for those with access to their own mechanic(s), so that servicing and repair costs are not as high as they might otherwise be. 

Advantages

• Lower monthly payments than with contract hire leasing.

• No large initial outlay.

• Option to purchase the vehicle at the end of the lease.

• No mileage restrictions. 

Disadvantages

• Responsibility for all servicing costs, breakdown costs, motor tax costs, and other associated costs.