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New business needing a vehicle? Look at car subscriptions and non-status leasing

Shared by Cocoon Vehicles Limited on

Standard business leases usually want two or three years of filed accounts, so new companies often get turned down. Specialist options such as car subscriptions and non-status leasing look more closely at the directors instead. They can give you access to a vehicle, or a credit line, until you have three years of accounts behind you. Read the terms carefully: mileage limits, damage charges and early termination fees vary a lot between providers. Compare the total cost over the whole term, not just the monthly payment.

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This tip was written by Cocoon Vehicles Limited, not by Business Tips. It's general information, not professional financial, legal or tax advice. Links to the author's website are paid placements. See our disclaimer.