Leasing a car and self employed

chokolat2

Hi everyone

I have been doing some research but it is all quite confusing so I was really hoping that someone would be able to just explain in plain English

I am a self employed sole trader, registered with hmrc
I am looking to get a car which is probably be 80% business use as I need it to get me to places.
My income is quite low at the moment and I receive Working Tax Credit

How does the leasing work, and will it work in my situation, my income is low and I do not pay income tax yet as I havent reached the threshold

Thank you

Car_54

Others will no doubt provide more expert advice, but it seems to me unlikely that you'll pass a leasing company's credit checks.

forgotmyname

Buy a cheap vehicle with what cash you have in your pocket.

macman

And you won't be able to reclaim the VAT as you are presumably not VAT-registered.