OVL Lease Blog

What documents do I need to provide when applying to lease a vehicle? 

What documents do I need to provide when applying to lease a vehicle?  One of the most common reasons that we can’t proceed with an application to lease a vehicle is our customers not having the correct pape... Read More

Car leasing in the ‘new normal’. Are there good deals to be found? 

Car leasing in the ‘new normal’. Are there good deals to be found?  You may have seen some of the headlines in recent weeks about the effect that the COVID-19 pandemic has had on the motor industry. Whilst it’... Read More

Range Rover Evoque 1.5 P300e S 5dr Contract Hire Whole Life Cost Comparison

Range Rover Evoque 1.5 P300e S 5dr Contract Hire Whole Life Cost Comparison Click the table above to zoom. Traditionally companies have based car selection around rentals alone but with changes in... Read More

OVL - keeping you up to date

OVL - keeping you up to date We hope you are all keeping well and managing to cope with this 'new normal.'  We have been keeping in touch with all of our... Read More

How to care for your car during Lockdown

How to care for your car during Lockdown The changes to the way we live our lives, brought about by the Covid-19 crisis, have been plentiful and our motoring habits have changed enormously... Read More

Funder response to Coronavirus

Funder response to Coronavirus We hope everyone is coping as best they can at this difficult time, it's testing for everyone. We’ve pulled together some key information... Read More

Car and van leasing - offers and deliveries available for key workers

Car and van leasing - offers and deliveries available for key workers Everyone here OVL Group are grateful to all essential workers who are tirelessly working to ensure we can continue to function. Whether y... Read More

OVL Group Ltd see continued growth in electric car leasing 

OVL Group Ltd see continued growth in electric car leasing  The electric car market is growing quickly, with almost 265,000 models on UK roads at the end of December 2019. The most recent set of figures from... Read More

What are the benefits to switching to an electric car?

What are the benefits to switching to an electric car? If you run a fleet of vehicles you will have many considerations when it comes to choosing the right cars for your team.  With electric a... Read More

All New Ford Kuga

All New Ford Kuga The Ford KUGA is a popular addition to the Ford offering - an SUV that looks stylish, drives like a hatchback and offers excellent rear seat and bo... Read More

What documents do I need to provide when applying to lease a vehicle? 

30/06/2020

What documents do I need to provide when applying to lease a vehicle? 

One of the most common reasons that we can’t proceed with an application to lease a vehicle is our customers not having the correct paperwork to hand. 

We will send a proposal form to you for completion and here are our top tips on what documents you need when applying to lease a vehicle.

  • How are you trading? If you are a sole trader you will need your most recent tax return or a record of your profit and loss. If you are a Limited Company you may need to have your accounts available.
  • If you are a Limited Company and have been trading for less than three months and were previously a sole trader, you can provide your latest tax return.
  • If you are a newly established Limited Company or a sole trader, but you have been trading for three months or more, you will be expected to pay a larger initial payment and you will need to provide at least three months of business bank statements.
  • If you haven’t been in business for more than three months you will need to sit tight and wait for this period of time to be able to lease a vehicle through your businesses.
  • It is worth pointing out here that you can lease a van, car or minibus as an individual - you don’t have to have a business -  therefore if you really cannot wait you can apply for your lease on a personal basis.

We hope this information has been useful. As always our expert team are on hand to give you individual advice should you need it -  just contact us via sales@ovl.co.uk and we will call you back at a time convenient to you.