Here's a list of all our business car leasing deals, If you have any questions about the business lease deals we provide, then please get in contact with one of our friendly expert consultants who will be happy to explain everything to you. Please simply email us at firstname.lastname@example.org or call 0191 356 1001
Business Car Leasing is a great way for businesses to purchase their fleet of vehicles. It allows them to use their capital for growth within the business as opposed to tying up so much capital on purchasing a vehicle.
There are many benefits to leasing a car through your business, particularly if you know that you wish to move house soon for example. A personal car lease will show on your credit report, whereas with business car lease offers if your business trades as a Limited Company won’t. However, if your business trades as a partnership or sole trader, then you are taking the finance in your name personally trading as the business name.
With all benefits that you receive through a business, you are liable for benefit in kind taxation and business vehicle leasing is no different. The amount you pay is determined based on the P11d value of the vehicle, co2 emissions and the tax bracket that you currently fall within. We’d always recommend that you speak with your accountant before committing to a lease agreement.
The prices we will quote you will exclude VAT, this is because if your business is VAT registered you are able to reclaim 50% of the VAT on the hire element and 100% of the VAT on any maintenance plan, making the effective rental less than the full cost including VAT.
How your business is assessed for finance depends on how your business trades. If it’s a limited company, many funders require at least 2 years of trading, some funders won’t consider a company that has been trading for less than this period, others may consider a guarantee whilst another may consider the application based on a terminal pause agreement (higher initial rental) so long as the last 3 months business bank statements are strong. It’s important that you advise us how long your business has been trading when requesting quotations, to ensure that we quote through the appropriate funder whereby you’re more likely to be accepted for finance.
An application for partnerships and sole traders, usually require 3 months business bank statements and will include a personal credit check against you as an individual.
From time to time, a funder may offer a unique campaign to business customers, along with existing customers receiving an enhanced rate for their loyalty to the brand. Business car leasing makes so much sense to may businesses.
Prestige vehicles are highly desired within the business sector, whilst the p11d may be higher which means you'll be taxed slightly more, many business customers find that due to their higher resale value, they fall within their monthly budget, this includes Audi business lease, Mercedes business lease, BMW business lease, Jaguar business lease, Skoda business lease, VW business lease, Volvo business lease, Lexus business lease and even Land Rover business lease.
Before you apply for business finance, we’d recommend that you speak to your accountant regarding your personal tax liability. Depending on your personal circumstances will determine, the better option for yourself, which of course your accountant can advise on. With many funders, the rentals are usually the same for personal and business consumers alike, although from time to time there can be differing rates depending on manufacturer and funder promotions.
The personal prices displayed on our site, include VAT at the current pre-vailing rate. Should the chancellor increase the VAT levy during your contract, you would need to pay the increased levy amount each month. The business prices exclude VAT. We display these differently as many businesses can reclaim 50% of the VAT element on the hire of the vehicle and 100% of the VAT on the maintenance element, meaning that the effective rental is less than the price including VAT. If a business is not VAT registered, then they’re unable to reclaim and VAT. Any individual that drives a business vehicle will become liable personally for benefit in kind taxation. The amount you pay varies as it’s based on the Co2 emissions of the vehicle, your level of taxation and the P11d value of the vehicle. If you apply for a personal lease and use the vehicle for business purposes, you’ll be able to reclaim mileage costs through your business and won’t be liable for benefit in kind taxation for the vehicle.
If you receive a car allowance from work and it is paid directly to you via your wage packet, then this means that whilst the vehicle will be used for business purposes; it’s you as an individual that will be applying and committing to the vehicle. If this is the case you will need to look at Personal options Contract hire lease agreements are not flexible so before you commit its important to factor this in, to ensure that should you no longer work for that company and no longer receive the allowance, you’re able to meet the continuous repayments of the lease agreement.
We can provide customers with a business contract hire. Whether or not you’re likely to be accepted for finance is dependant on how the business is currently trading. We use a panel of lenders, and all have different criteria. Some lenders will not consider a company until it’s been trading for at least 2 years. Another will consider a company with a Directors Guarantee providing that the value of the vehicle doesn’t exceed a certain amount, whereas another will consider a new start with 3 months business bank statements on a terminal pause agreement. The best thing to do is to speak to us, explain your current situation and we’ll advise the best way forward.