Lease purchasevirtually identical to hire purchase
Lease purchase is virtually identical to hire purchasethe only difference being that instead of paying a deposit of say 10-15% you typically pay a deposit as a multiple of the repayments.
The remaining balance and interest is repaid in instalments.
As an example, a hire purchase agreement would have a 10% deposit followed by 36 monthly repayments. The equivalent Lease Purchase would have a profile of 3 payments in advance followed by 33 (if terminal pause) or 35 (if spread pause) monthly repayments.
Your eligibility for the VAT and writing down allowances is exactly the same as for hire purchase, and you can expect the fee structure to be the same.