Who can lease a van?

Who can lease a van?

Are you over 18 with a full UK Driving Licence and good credit? If the answer is yes, then you can lease a van!

Van Leasing is a great business tool, and our leases are set up for business use only. Businesses can be sole traders, partnerships or limited companies.

By taking out a van lease, businesses can take on more work, make a great first impression with their customers and know they have a vehicle they can rely on. All without forking out a massive chunk of capital upfront.

Why do I need good credit to lease a van?

To lease a van, the business, or its owners and directors, will be credit searched by the finance company. Businesses and people with good credit are generally accepted automatically. It is important to note that the Financial Conduct Authority require finance to go through an affordability check.

Businesses with a small amount of adverse may be accepted to lease if explanations can be offered.

Where the credit decision is marginal, the finance company may ask us to provide further information such as bank statements and accounts. Sometimes additional measures may be requested by the finance company to make sure you will be able to pay the finance on your new van. Usually this means signing a director’s guarantee.

New start businesses can still be eligible for finance. In most instances the finance company requires a larger deposit (generally 9 months upfront) and a director’s guarantee. This is because the business doesn’t have historical credit with which to assess whether they will be able to pay the finance on their new vehicle. By providing a director’s guarantee and larger deposit, the risk to the finance company is reduced.

We offer van leases on single vehicles, and on multiple vans. Customers will often take on more than one lease as their business expands. taking advantage of the low upfront cost, and agreed monthly payment schedule.

Do I have good credit?

Not sure if you’ll be accepted for a van lease? You can check your credit score online using Experion. Want to learn more about how credit works and if you’re likely to be accepted? Read more here.

What about tax on my van lease?

The two most popular types of van leasing (contract hire and finance lease) have similar tax status.

• All rentals can be offset against revenue, making them 100% tax efficient
• If you’re VAT registered, all of the rental’s VAT can be claimed back

Why choose Global Vans?

When leasing a van at Global Vans, we will provide you with as many options as possible, so that you have flexibility when comes to paying for the finance. It’s important that your monthly payments fit your finances, and that you, the customer, find the right deal for you. We have plenty of in stock vehicles and relationships with manufacturers and suppliers across the country. This means you should have plenty of options when it comes to finding a van to fit your budget. 

Contact us

Speak to one of our leasing experts for a quote on 01179625314 or go to globalvans.co.uk find your vehicle and complete our quick online form for a call back.