Lease purchase is a way to fund a van with fixed payments, often structured similarly to leasing, but with a clear route to ownership. Once all contracted payments are made (including any balloon), you take legal title to the vehicle.
Van Lease Purchase in Halifax & West Yorkshire
A smart way to fund a van you want to keep. Fixed payments, an optional balloon to reduce monthly costs, and ownership at the end of the agreement—ideal for sole traders and growing businesses.
Own the van at the end, without the upfront hit.
Van lease purchase is designed for businesses that want the benefits of spreading the cost, while ultimately taking ownership of the vehicle. Instead of paying a large amount upfront, you make fixed payments across the agreement, and you can add a balloon payment to reduce the monthly figure. It's a practical option when you need a reliable van for day-to-day work and prefer a route to ownership.
We'll help you choose the right van and structure an agreement around your budget and how long you expect to keep it. At the end of the term, once all contracted payments are made (including any balloon), the vehicle becomes yours. If you choose a balloon, you can pay it to keep the van, or sell/part-exchange the vehicle and use any surplus towards your next one.
Why choose lease purchase with Queensbury Van Hire?
How van lease purchase works
Tell us what you need the van for (trade work, deliveries, removals), your budget, and preferred spec. We'll help you pick the right size and payload—from small vans to LWB and specialist options—so the vehicle fits your workload from day one.
We structure a lease purchase agreement with fixed payments across the term. If you'd like lower monthly repayments, a balloon payment can be added at the end. You'll also need to keep the vehicle insured and in roadworthy condition throughout the agreement.
At the end of the agreement, once all contracted payments (including any balloon) are made, you take legal title to the van. If a balloon is included, you can pay it to keep the van, or sell/part-exchange the vehicle and use any surplus towards your next upgrade.
Ready to book? Call 01422 361 436 or email sales@queensburyvanhire.co.uk.
Van lease purchase FAQs
Answers to common questions about payments, balloon options, ownership, early settlement and end-of-term choices.
What is van lease purchase?
Do I need a deposit or upfront payment?
Many agreements require an initial payment (sometimes multiple rentals in advance) and may include fees. The exact structure depends on the van, lender requirements and your preferred budget.
What is a balloon payment and is it optional?
A balloon is a larger final payment used to reduce your monthly repayments. If a balloon is included in the agreement, it's your responsibility to pay it (or clear it via sale/part-exchange) at the end of the term.
Are the monthly payments fixed?
Yes—payments are typically fixed for the duration of the agreement, which makes budgeting easier. The interest rate is usually fixed too, subject to the finance provider's terms.
Can I settle a lease purchase agreement early?
Early settlement is generally possible by paying the outstanding finance balance. In some cases, settling early may reduce the amount of interest you pay, depending on the agreement and lender rules.
What happens at the end of the agreement?
Once all contracted payments are made, ownership transfers to you. If a balloon is included, you can pay it and keep the van, or sell/part-exchange the van to clear the balloon and use any surplus towards your next vehicle.
Are there mileage limits with lease purchase?
Lease purchase is a route to ownership rather than a return-and-walk-away rental, so mileage restrictions are often not structured like contract hire. Your van's value at the end still matters if you plan to sell or part-exchange to clear a balloon.
Can I terminate the agreement early by handing the van back?
Some regulated agreements may allow voluntary termination (sometimes called the “half rule”) once you've paid at least half of the total amount payable, subject to the vehicle being in reasonable condition and any arrears being cleared. We'll explain what applies to your agreement.