Any company could, in theory, be eligible for a vehicle via van leasing
However, there are a number of factors which you have to take into account
Please see below circumstances that you may wish to consider before applying:
If you are a new start business or have been trading less that 2 years, you may find it hard to obtain vehicle finance, for either car or van leasing.
Normally, a funder may request:
3 Months Business Bank Statements
Larger Initial Rental / Deposit
Most funders will consider businesses who have bene trading for 2 years or more and have the relevant audited accounts.
Dependant on the Profit and Loss and Net Worth of the business, they may also request additional information to satisfy there risk analysis.
Please see below the types of businesses who typically apply for van leasing.
This type of set up will be treat as personal van leasing as you will be self employed and you run your business as an individual.
However, if you are VAT registered, then you are able to claim an element of the VAT back, subject to your circumstances.
LLP (limited liability partners)
This type of set up is common, however our funders view them differently dependant on the number of partners.
Typically, if the LLP has 1-5 partners, they are seen as individuals and if they have 6 or more partners, the LLP is seen as a business.
Limited Liability Company (Ltd)
This is the most common business type when looking for van leasing.
To apply for van finance, you will require:
Business details (name, registered and trading address, company registration etc)
Directors Personal details
Business Bank Details
Public Limited Company (PLC)
This type of company tends to be larger and normally has a very high turnover and net worth. The same principals apply for Limited Companies when applying for van finance.
Local or Government Authority, Charity or Embassy
These type of organisations are not that common, however, they are eligible for van leasing. We would need to look at these on an individual basis to match their business set up with our funders.