Lease purchase allows you to finance your new horsebox, giving you a choice of re-financing the balloon payment and keeping it, or re-newing your box after 3 years.
The lease purchase only differs from the Hire purchase in one way, at the end of agreement there is a balloon payment due. This balloon payment is agreed upon before hand, and is a set amount offset from the finance and instead attached at the end as a final payment.
This results in a lower monthly payment or a shorter term than a similar Hire purchase.
The term lengths available on this option are 1 to 4 years.
A minimum deposit of the value of the VAT on new builds is required, but again part exchanges and bigger deposits are an option, and it is also possible to settle prior to the end of term to allow you to upgrade or sell your box.
The Lease purchase is a very flexible option, providing you with the equity (after the final balloon payment) to put down as a deposit for a new build.