Looking to purchase a new business vehicle? Find the best cash-flow friendly options for your business, including BCH and BHP.
We appreciate that each business is unique and will have different needs when it comes to car finance for business purchases.
We have skilled and dedicated Business Sales Specialists who are able to help you understand how best to finance your car for business purposes, whether you are a company car driver or fleet manager.
With retailers in some of the country's top locations, including World Heritage sites and the Lake District National Park, we operate across Cumbria, Lancashire, Newcastle upon Tyne, North Yorkshire, and Scotland.
From taxation implications to cost of ownership calculations, our dedicated Business Sales Specialists are here to help identify the right car and finance solution for you.
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It can help you save money on tax, maintenance, and fuel costs. Depending on the type of finance you choose and the type of car you buy, you might be able to claim tax deductions, benefit from lower maintenance costs, or enjoy better fuel economy.
It can help you avoid tying up cash reserves or impacting cash flow. By spreading the cost of the cars over time with monthly payments, you can preserve your working capital and cash flow for other business purposes.
It can help you choose from a wide range of new models and features. With car finance, you can access a variety of brand-new cars that suit your business needs and preferences. You can also customise the cars your business needs with optional extras such as sat-nav, leather seats, or multimedia systems
Business car finance works by letting you borrow money from a lender to buy cars for your company. You then pay back the loan over an agreed term with interest and fees.
The amount you can borrow, the interest rate, and the repayment term depend on various factors such as:
You can choose from different types of business car finance depending on whether you want to own the cars at the end of the term or lease them for a period of time.
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You will need to assess the affordability of the finance type, plus any terms and conditions for your business that come with this type of loan or contract. To help you decide on the best vehicle financing options for your business, you will need to think about:
How much you can afford to borrow.
How long you want the car for.
How you intend to use it.
To make driving a new or used car from Lloyd Motor Group as affordable and simple as possible, we offer a range of business finance options that can be tailored to meet each of our corporate and business customer’s requirements and circumstances.
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We have a variety of business car finance options available. Read below to learn more:
Simply fill in your details below and we’ll get back to you as quickly as possible. Alternatively, you can call your local branch by telephone.
To apply for business car finance, your business would normally be one of the following types of business:
Sole trader
In a partnership
Limited Liability Partnership (LLP)
Public Limited Company (PLC)
A local authority (health services, social services, education etc.)
A limited company
VAT registered business
A charity
An embassy
Yes, if your company is one of the above types of business you should be able to apply for business car finance.
It may be slightly different for a new business, as some finance companies will need proof that there are company funds available for the monthly car payments. Additionally, finance companies will sometimes require up to two years of trading history for the business.
Also, similar to other types of financing, business car finance will be subject to approval, often based upon credit checks.
We have many business car offers available for small businesses, and some of the key business facts worth considering about business leasing are:
Our business development managers will be able to discuss which offers and vehicles will work best for your needs and budget.
Your car finance payments could be a tax-deductible business expense, if you are a business owner or you are self-employed and using the vehicle for business purposes.
This means you could lower your taxable income and get relief on your car loan or finance agreement.
There is more information on capital allowances for business cars at HMRC. Please get in touch to discuss with one of our business development managers today.
