What can you already demonstrate?
A young business has no years of results to show. Separate what is confirmed from what you expect. This might include completed work, payments received, agreed assignments and your budget for the coming period.
An expected assignment is not income already received. Explain when work takes place, when you invoice and when payment is due. This helps show which expenses you need to cover in the meantime.
The lender decides what evidence is required. We discuss this before you provide financial or personal documents.
Which vehicle fits the first stage of your business?
Start with what you need to do your work. It may help to compare a suitable used car with a more expensive version. Compare insurance, maintenance and energy costs as well as the finance.
Allow for start-up expenses and months when income arrives later. A down payment can reduce the monthly instalment. The cash must be available without leaving you unable to pay other bills.
Choose a final payment only with a plan to settle it at the end. That obligation has not disappeared because the monthly payment is lower.
How do you start before everything is settled?
Send a vehicle link or describe what you need. Explain how long your business has been running, what you do and whether you already have income or assignments. You do not need a final vehicle choice for this first conversation.
We discuss your starting points and the information an application may need. The lender then assesses the full request. Do not enter into a binding purchase on the assumption that finance has been secured.
If your first financial year has not ended yet, read about applying without full annual accounts.
Another new business owner's experience
Mo had been self-employed for only a few months when he contacted Capital Lease. His vehicle choice changed during the search. He eventually collected an Audi e-tron. Our customer experiences include his story.
His circumstances are an example, not a promise about the outcome of another application.
Questions when you have just started
How long must my business have been trading?
There is no single period for every lender and application. Business activity, available information, the vehicle and finance structure are assessed together.
Can I apply before earning revenue?
You can discuss your situation, but affordability is harder to demonstrate without evidence of income. A budget alone does not guarantee approval. We explain what further information is needed to explore the options.
Will I need a down payment?
Possibly. It depends on the application and the lender's terms. Do not assume the entire purchase price will be financed.
What do you need to get started?
Tell us what your business does and the vehicle you are looking for. We discuss what is already clear and what still needs checking.