NB: Nationwide Vehicle Contracts are car leasing specialists in Contract Hire and Personal Contract Hire agreements. While Business Lease Purchase agreements are no longer available with Nationwide Vehicle Contracts, it is important that you review the benefits and exclusions of every lease contract to better understand which agreement is best suited to your needs.
How could it work for your business?
As part of a lease purchase agreement, you will pay an initial deposit and then a series of monthly payments until the end of the agreed contract length. The initial deposit and monthly payments are worked out using the retail value of the brand new vehicle, the length of contract (two or four years, for example), and the estimated residual value of the vehicle at the end of the contract.
It is worth noting that other types of business leasing contracts – such as contract hire and finance lease – are often more popular and common than lease purchase. This is because they offer more flexibility at the end of contract term than a lease purchase agreement.
If you’ve got further questions about which type of new car finance deal is best for you and your business, take a look at the information we’ve provided on each of the different contracts. Alternatively, give our team a call on 0345 811 9595.