A lease is a contract outlining the terms under which one party agrees to rent property owned by another party.

Contract hire is an agreement between two parties to lease a vehicle (car or van) for a set time period (and mileage) at a fixed monthly cost.

A leaseback is an agreement where an asset’s seller leases back the asset from the purchaser. In a leaseback arrangement, the details of the arrangement, such as the lease payments and lease duration, are made immediately after the sale of the asset. Essentially, seller becomes lessee and purchaser becomes the lessor.

There is not application processing fee. You only pay at the time of loan disbursement.

Finance lease wherein you effectively acquire all financial benefits and risks without actually acquiring legal title. Operating lease – it more like a regular rental. Contract hire – It is a form of operating lease that includes a number of additional services such as maintenance, management or replacement if asset is in repair. Hire purchase – it is an agreement for the hiring of an asset with an option to purchase.

The short answer is yes, but we advise you to consult our experts for free advice before making your mind up.

It is the regular rental payment under the lease agreement to use the asset and is primarily determined by the cost of the asset, duration of the lease and the interest rate.

Almost anything, from equipment valuing few thousand pounds to assets worth millions can be leased. Common examples include vehicles, machinery and office equipment.

Most of the lease agreements require you to carry and pay for comprehensive insurance on the asset, just as you would if you purchased. The insurance charge is normally included in the recurring lease payments.