Business Contract Purchase

how it works

Our relationship with leading manufacturers and our industry experience enables us to use our buying power to get you a competitive price on brand new vehicles. You’ll pay a fixed monthly amount based on the vehicle’s value and will be given the option to purchase at the end of your contract via a one-off, pre-agreed ‘balloon’ payment.

Benefits

Flexible contract lengths from 24 to 60 months
Fixed monthly finance payments
Optional pre-agreed end-of-contract ‘balloon’ payment
An efficient form of funding for VAT-restricted organisations and any business running commercial vehicles
Optional maintenance package
CO₂-linked capital allowances
Pooled mileage available
Replacement vehicle option because of theft, accident, repair or mechanical failure

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Eligibility

Businesses must have been trading for a minimum of two years
Available only to cars, vans, flatbed trucks up to 3.5 tonnes and 4x4/SUV requirements. We are unable to assist with HGVs, agriculture machinery, motorbikes, camper vans, couriers, driving schools, chauffeurs, or hire and reward
Maximum mileages are based on vehicle model and type of fuel
Subject to status, application and necessary credit acceptance
Maximum quotable contract mileages: Cars - Petrol 120,000 miles, Diesel 150,000 miles. LCVs - Petrol 150,000 miles, Diesel 180,000 miles

Useful information

Contract Purchase provides the option to purchase the vehicle at the end of the contract at a fixed ‘balloon payment’ or hand it back to Lex Autolease
Excess mileage charges and return conditions apply if the vehicle is returned. Vehicle should be returned in good condition to avoid further charges – see our Fair Wear and Tear Policy. Excess mileage charges apply if the contracted mileage is exceeded
Can include management services such as, maintenance, breakdown assistance and replacement vehicles; the charge for these is dependent upon vehicle mileage and contract duration and is priced into the monthly rental
VAT is not charged on the finance repayment or final balloon payment
VAT is charged on the service element (e.g. maintenance)

An economical option for buying your vehicle