This is similar to Hire Purchase except that a percentage of the purchase price of the asset, normally up to 40% over 3 years or 30% over 4 years is deferred to the end of the agreement thus reducing the monthly cost to you. Some finance companies differentiate Lease Purchase from Hire Purchase by using it where the customer wishes to defer payment of a substantial part of the asset cost until the end of the agreement.
Lease Purchase
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