Car leasing for business owners

We look at everything you need to know about Car leasing for business owners

More and more people are becoming self-employed and with the rise of start-ups and the ‘gig economy’, it’s no surprise.

Of course, if you are a self-employed, then you will most likely need a car. And if you are self-employed, you might be wondering whether you can lease a car via a business lease, rather than a personal lease.

In this article, we look at Car leasing for business owners including looking at what business options are available to you, the criteria and the business benefits of leasing.

How do I qualify for business car leasing?

If you are a business owner keen to qualify for business car leasing then there are several things you will need to be able to present.

In order to be able to qualify for business car leasing, the car leasing company will require you to be able to provide bank statements and audited accounts. You will also need to produce proof of address and proof of ID for the main company director. In addition to this, the business will be subject to credit checks before a decision is made as to whether they can qualify for Car leasing for business owners.

As part of the credit check, the car leasing company will need to be able to determine whether your business is a limited entity, and also gain access to business registration details.

You can lease a car through a business if you are any of the following;

A Sole Trader
Have a Limited Company
A Partnership
A VAT registered business
A Limited Liability Partnership (LLP)
A PLC
A Charity
Local Authority
Central government
An Embassy

In short, if you are self-employed, you can get a Car leasing for business owners because you are a Sole Trader. However, there are other criteria that you must achieve before you can lease a car.