FLEXED – short term car & van leasing or long term rentals
If you’re a start-up or new business, you might be wondering what options are available to you when it comes to leasing a car or van to represent your company.
We know how tough it can be starting a new business and how important it is to ensure that all aspects of running your new company are made as easy as possible whilst it thrives and grows.
Most new businesses struggle to find the money needed to purchase a car outright, that’s why leasing is the best affordable option – short term leasing is the flexible way to lease a car or van or fleet of cars/vans for your business either through Business or Personal Leasing.
Because your business or start-up is new, this can often create problems when it comes to getting credit for financing a vehicle or fleet of vehicles for your company, however there are options available at Flexed for both start-ups or new businesses wishing to lease a car or van.
When looking to lease a car or van to represent their business, most company owners tend to look at Business Leasing as their preferred option, as there’s many benefits to take advantage of such as the fact that you can claim back 50% of the VAT if your company is VAT registered.
The trouble with new businesses is exactly that – they’re new and as a result they haven’t as yet built up a long business history, however this isn’t a problem so long as you can provide enough evidence and documentation to prove your eligibility for Business Finance Leasing.
As part of the process, your new company will have to undergo a credit check, as well as having to provide details of the business including company reg. number, bank statements and audited accounts. The main director will also have to provide proof of ID and proof of address. Further information and documentation may be required because you’re a new business or start-up to back up your finance application.
If your new business or start-up has been up and running for less than 12 months, it could be that your chances of being accepted for Business Leasing are slim, so you might want to consider looking at Personal Leasing as an alternative.
In the future, you can return to Business Leasing once your start-up or new business has grown and been running for longer.
When taking out a Personal Lease Contract, your individual finance history is looked at to ensure you’re eligible for vehicle finance and also includes a credit check as part of the process.
This option is particularly popular with sole traders, new business owners and start-up’s who want to lease a car/van or fleet for their business whilst waiting for their financial history to build up.
When applying for Personal Finance, you must provide personal information about yourself including your name and address and provide proof of ID. You will also be asked about martial status and number of dependents.
You will have to provide details of all properties you’ve lived in over the past five years and employment details for the past three years.
Your bank details will also need to be provided showing your name, account and sort code, whilst your monthly income and expenditure will be looked at to make sure you’re able to keep up with the monthly payments.
Leasing a car or van for your new business or start-up is easy with Flexed. Short term leasing means you only have to lease a vehicle for a minimum of 28 days which is perfect for growing businesses whose staff turnover could be quite high.
For example, if you lease a car for two months and the staff member using it decides to leave the company, then all you need to do is change the length of the lease term.
Or to incentivize staff and encourage them to stay with your new start-up or business, it might be that you’d look to lease a car for 12 months, which is possible at Flexed as we also offer long term rentals as well as short term leases.
We have a wide range of cars and vans available to lease at Flexed which are suitable for both start-up’s and new businesses – please call for more details on 0800 311 8290 or fill in our ‘Quick Quote’ form for a reply within the hour.
And if you can’t see the exact model you’re interested in leasing for your business, please ask: firstname.lastname@example.org or contact us via our online ‘We are here!’ service.