How To Get A Business Car Lease

How To Get A Business Car Lease

15th Jan 2021

How To Get A Business Car Lease

Find out if your business would benefit from leasing your business cars and how to apply for a business car lease.

Purchasing vehicles is a big expense that can absorb a large chunk of your business’ valuable working capital.

If you’re reluctant to commit to buying business vehicles outright, then business car leasing could be the ideal solution for you.

Business car leasing is an accessible way for businesses of all shapes and sizes to acquire one or more vehicles at an affordable and fixed monthly cost.

When you lease a car for business use you rent the vehicle from the finance company rather than owning it yourself.

Many businesses choose to go down the leasing route rather than investing large amounts of money to buy vehicles outright as it spreads the cost and allows them to keep more working capital for running and growing their business.

The key benefits of business car leasing include:

  • Tax benefits.
  • Spread the cost of the vehicle.
  • No need to worry about depreciation or future sale value of the vehicle.
  • Opportunity to upgrade vehicles and choose higher value vehicles as your repayments are based on the depreciation of the vehicle not the purchase price.
  • A wide variety of business vehicles to choose from.
  • Multiple leasing options to choose from.
  • No commitment to keep the vehicle at the end of the contract.
  • Convenient extra packages available including maintenance and servicing packages.

Who can qualify for a business car lease?

All different types of business can qualify for business car leasing, including:

  • Sole traders
  • Partnerships                                                                       
  • Limited liability partnerships
  • Limited companies
  • VAT registered companies
  • Charities

How to apply for business car leasing

Leasing business vehicles is simple with Let’s Talk Leasing, here’s how to apply in three simple steps.

  • 1.Select your vehicle and leasing deal
  • 2.Credit check
  • 3.Provide information

You can apply for business car leasing with Let’s Talk Leasing online or over the phone.

Either give our team a call on 0330 056 3335 or select the vehicle and leasing deal you’re interested in.

Once you have applied for a business car lease, a credit check will be performed on your business to ensure that you have a good credit score and meet certain requirements.

It may be more difficult for businesses that are less than two years old to meet the requirements for a business car lease because they won’t have built up a proven credit score yet.

If you’re unsure whether your business qualifies for business car leasing to discuss your options.

As well as a credit check, you will also need to provide us with some important documentation to qualify for a business car lease for legal and safety reasons.

  • Company details:
    1. Type of business
    2. Company address
    3. Company registration number (Limited business)

•    Director details:

  1. Bank details for the account you plan to use
  2. A copy of your latest company accounts may be requested

To find out more about whether business car leasing is suitable for your business and to get the ball rolling, request a call back from our team of experts here at LetsTalkFleet by calling 0330 056 3335.

As well as business contract hire and leasing deals, we also provide finance lease, contract purchase, hire purchase and outright purchase, allowing you to find the solution best suited to your business.