How does a Finance Lease Work?
- The finance company purchases the vehicle on your behalf.
- You then lease the vehicle back from the finance company paying the agreed monthly rates for the length of the leasing term.
You have two options at the end of your lease:
- You can pay a residual value (final installment) on the lease and take ownership of the car.
- Or trade it in or refinance the residual and continue the lease.