FAQ: What happens if you take ownership of the vehicle at the end of a Car Lease (Finance Lease)?

What happens if you take ownership of the vehicle at the end of a Car Lease (Finance Lease)?

If you choose to take ownership of the vehicle at the end of a Car Lease (Finance Lease), this is technically treated as the finance company selling the vehicle to you for an amount equal to the Residual Value.

GST will be added to this amount, however business registered for GST will be able to claim an Input Tax Credit credit for any GST paid as part of the purchase.