Lease Purchase

Service options included in Lease Purchase:

• Free sourcing and delivery of your vehicles.

Additional services which can be included:

• All routine servicing, mechanical repairs, batteries, exhausts and tyre replacement
• Replacement vehicle provided in the event of an accident or mechanical breakdown.
• Full membership of a motoring programme including Home Start, Road Side Assistance, Relay, Relay Plus and European Cover.
• Motor insurance, individual or fleet cover available.
• GAP insurance up to a maximum of £5,000.

Your only responsibilities:

• Choosing the vehicle.
• Choosing the Compass Vehicle Maintenance package.
• Paying for fuel, oil and insurance.
• Paying for the Road Fund Licence.
• Should the sale proceeds be less than the residual value, then you will be liable for any shortfall.

The Benefits:

• Minimum initial expenditure, typically three months in advance.
• Fixed monthly payments for accurate budgeting.
• VAT on monthly payments is not applicable.
• You can purchase the vehicle at the end of the contract.
• Flexibility to structure the option to purchase price or residual value.
• Routine servicing and maintenance costs can be covered.
• Capital allowances claimable against tax.

Disadvantages:

• Depreciation is your responsibility.
• There are limited tax advantages.