Questions about a Commission Arrangement

If you have a query relating to a commission arrangement associated with your agreement, please click
here for further information

Lease Purchase Explained

What is Lease Purchase?

Lease Purchase is a straightforward form of purchase agreement specially designed for business users. The advanced payment and repayment periods can be structured to help meet your budget and the length of time you anticipate owning the vehicle. You will automatically become the legal owner of the vehicle once all payments have been made.

 

How Lease Purchase Works

PV5 PS OOH 1

1: Pay an advanced payment

Select the initial advanced payment you wish to pay, if any at all.

 

If you choose to pay an advanced payment, you can either pay in cash or trade in your existing vehicle (part exchange).

PV5 CG OOH 2

2: Pay Monthly Payments

Choose how long you would like the agreement for and make regular monthly payments to repay the balance and interest. The interest rate is fixed which means you pay the same amount each month.

PV5 Lineup 2 OOH

3: You own the vehicle

Once all the monthly repayments have been made, you will own the vehicle. As with all our finance products, there are no arrangement or purchase fees.

Other things you should know:

  • This is an unregulated agreement. We secure the agreement against the vehicle. If you don't keep up your repayments, we may take steps to recover the money owed. This may include repossessing the vehicle.
  • Vehicle finance for business can be complex. The right finance plan will depend on several factors including business status, cashflow, other borrowings, and tax planning.

  • We strongly suggest that you seek financial advice before making your decision.

  • You can only get lease purchase if you’re a limited company, a PLC, or a limited partnership on an unregulated basis.
  • The minimum loan amount is £3,000. Repayment periods can vary from 12-60 months, with a minimum deposit requirement of 0% (Criteria may vary dependent on campaign programmes)

Download our Lease Purchase Product Guide

Our product guides are downloadable as a PDF via the link below.

 

Frequently Asked Questions

Unlike BCH, there are no agreed mileage limits for Lease Purchase, and you do not need to return the vehicle at the end of the agreement. You simply pay fixed monthly payments for a set period and the vehicle belongs to your business.

Lease Purchase is a good option if:

  • You want to own the vehicle outright at the end of the agreement

  • You prefer straightforward fixed monthly payments without a lump sum deferred to the end of the agreement

No, Kia Finance will hold title of the vehicle until you have made all monthly payments.

When applying for finance you will be required to supply certain personal information, as well as to confirm your identity.

 

You will need to provide a full UK driving licence. We may also ask you for further proof of your address dated within three months of the submission of your application. An acceptable proof of address includes a bank or credit card statement, utility or council tax bills, or mortgage statements.

Find your dealer

Enter your postcode and find your local Kia PBV Centre by using the online locator.

FAQs
Manage
Chat