GMAC U.K., General Motors’ U.K. affiliate, has added a new type of auto lease to its latest E-CARAT transaction.

Personal contract purchase leases comprise 20% of the pool of collateral for E-CARAT 5. These leases require an initial deposit and a series of monthly payments that cover the vehicle’s depreciation. At the end of the lease, borrowers can either purchase the vehicle with a final balloon payment or return it to the finance company.  The finance company then undertakes to sell the vehicle.

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