What are the pros and cons of LP finance?

What are the pros of LP finance?

What are the cons of LP finance?

Lower monthly payments compared to other finance options

You’ll need to pay a large final lump sum

You will own the vehicle at the end of the contract

There’s no option to hand the vehicle back at the end of the agreement

As such, you won’t be penalised for any damage incurred during the agreement

The vehicle can be repossessed if you don’t keep up with monthly payments

There aren’t any annual mileage restrictions at all

Contracts do not include the option for maintenance or servicing

Ideal if you wish to own a premium brand of car

Not ideal for a car worth under £25,000