Finance Lease (FL) is a finance option offered by Complete Vehicle Management.
Finance lease provides the option for VAT-registered users to pay for vans off balance sheet, spreading the cost of the VAT to the monthly payments rather than requiring payment up front as is the case with a purchase product.
You can choose to lease your van with or without balloon payment due at the end of the initial lease period. Monthly payments will be reduced during the rental if you choose the balloon option.
Once the initial lease period has ended, you will have the option to sell the van on behalf of the finance company and pay them a percentage of the sale price (normally 5%) or extend the lease, paying only a peppercorn rental.
Note that if you choose the balloon payment option to reduce your rental, this will need to be settled as part of either of these options.