Key highlights
- A company can finance a vehicle in its own name
- Asset and loan sit on the business
- Directors are commonly asked for a personal guarantee
- Structure can affect cash flow and flexibility
- One broker compares 80+ lenders and structures
Many businesses prefer to hold vehicles in the company name, and financing a vehicle through a company is well established. Lenders regularly write finance for incorporated businesses of all sizes.
Can a company finance a vehicle?
A company can generally take out vehicle finance in its own name, with the asset and loan sitting on the business. This can suit businesses that want vehicles clearly held within the entity, subject to each lender's criteria.
Do directors need to give a guarantee?
Lenders commonly ask company directors to provide a personal guarantee, particularly for smaller or newer companies. Your company's trading history, credit profile and financials all feed into the assessment for eligible applicants.
How should a company structure finance?
How a company finances a vehicle can affect cash flow and flexibility. A broker can compare lenders and structures across 80+ options. For accounting and tax treatment within a company, check with your accountant or registered tax adviser.
How do you review company finance options?
Simon Kendrick can help structure finance in your company name. Request a soft-check quote for indicative options without affecting your credit score.
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