Finance Lease

Advantages

  • Flexible contract periods, normally 24 - 60 months. 
  • Potential to profit from reselling at end of agreement.
  • VAT reclaimable on the rentals. 
  • Low initial outlay with flexible initial payment options. 
  • Option to have large final payment to keep monthly payments low. 
  • Finance Lease is an on balance sheet funding method. 

Disadvantages

  • You will not own the vehicle; you will need to resell to a third party.
  • Fixed contract period, charges will apply if you want to exit the agreement early.
  • There is an element of risk due to being financially resposbile for any loss on the future residual value. 

 

Finance Lease is a flexible leasing option, much like Contract Hire it's based on a fixed contract period, set mileage and initial payment giving you a fixed monthly cost.

The vehicle is not returned to the funder though and needs to be sold to a third party at the end of the contract, this means there is no end of contract charges should the vehicle be damaged or over agreed mileage.

Most agreements have a final balloon payment due, this is set by the funder to be in line with the projected residual value, should the resale value be lower than the final payment due, you will be liable for the difference, should it be higher you will retain any profit.

A very popular way to lease commercial vehicles due to its flexibility and ability to negate end of contract charges associated with contract hire.

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Vanaways Reviews

   
Mark Carter

Mark Carter

01 April 2025

"First class service, I must mention Adrian & Ash on an excellent deal & swift turn around under the short notice I had to buying a new van. Slight delay in the delivery of the van from manufacturers end but Adrian agreed to cover the cost of a hire van until my new van was delivered which allowed me to continue working. its the first time i've purchased a van without physically entering a dealership and i wouldn't hesitate to do it again."

Jackie Lee

Jackie Lee

28 March 2025

"Excellent service from start to finish. Jake Wheelock was professional, efficient and really genuinely helpful. Had my truck in less than 2 weeks. Great communication and reliable. Would highly recommend!"

Paul

Paul

29 April 2025

"Overall dealings were good. Broadly speaking, response to emails could've been more timely. Joe, Snr Cust Service advisor in particular, was very good indeed. Sorted out the paperwork issues promptly. Overall, would recommend."

Steve Cole

Steve Cole

14 May 2025

"Great service, great price, great communication. As it should be done, They made it so easy to buy two vans. 10/10"

Jessica Allard

Jessica Allard

11 March 2025

"From start to finish Morgan and the team have been fantastic in sorting 2 new defenders out for us from the quote 3 weeks ago to them being delivered they have been brilliant the deal they got us was unbeatable thank you Lewis @ steve Allard and son stonemasons"

4.9 out of 5 from 448 reviews

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