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.