Guide to Business Car Leasing - Money Expert

Leasing vehicles for your business is a great way to reduce upfront costs for your company. It is suitable for a variety of company setups, whether you are a sole trader or a limited company. Leasing is an alternative method of financing your vehicles and is often cheaper and more beneficial than aloan. Our comprehensive guide has everything you need to know in one place, helping you to make an informed choice for your business.

The benefits of business vehicle leasing

There are many benefits of leasing vehicles for your business, from VAT benefits to minimal repair bills. Here is what you can benefit from business vehicle leasing:

Disadvantages of business vehicle leasing

As with every financial option there are always disadvantages. It is important to make sure you are aware of them and how they may affect your business in the future.

How to lease a vehicle for your business

First of all, you need to check if your company is eligible for business vehicle leasing. To do this you will need to find a finance company to complete a credit check. As always, make sure youcompare car finance deals to find the best offer for you.

Collect all the information ready for your credit check to ensure a quick transition. The main information you will need to collect is:

In some cases you may also need:

Finance companies may need this additional information if your business is less than a year old or you have bad credit or previous issues getting vehicle finance.

After you have supplied all the information they need thecredit check will commence. It usually takes between 2-5 working days. If you are accepted for finance, you will be provided with the documents you need to start your new business venture.