We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Vehicle loan for start-up business
eddietheboyp
Posts: 4 Newbie
in Loans
Hi everyone. Over the last year I have been planning and plotting my new business and have invested about £10,000 worth of equipment to set it up. Over the last month I have given up full time work with my previous job to work full time on setting my business up. I am now registered as self employed and I am planning on turning the business into a ltd business shortly.
I have everything I need to begin trading except a vehicle (capable of towing). However my question is will I be able to get a loan/car on finance for my business now I technically don't have an income - yet? Obviously the business is too new to have any books either. I have a personal vehicle that I can sell and use as a deposit and own my own property (70% equity on £150K house)
I have everything I need to begin trading except a vehicle (capable of towing). However my question is will I be able to get a loan/car on finance for my business now I technically don't have an income - yet? Obviously the business is too new to have any books either. I have a personal vehicle that I can sell and use as a deposit and own my own property (70% equity on £150K house)
0
Comments
-
Could you get away with using your own vehicle for a while, even if it's not the most suitable?0
-
What business are you in?
How much do you need for the vehicle of your dreams?
How much will you need for a run-around until you get established?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards