Car Lease For Newly Self Employed

seabass

Hi All,

I am wanting lease new a car but I have recently left my full time employment to start my own business. Would a lease car company even consider me?

I had a company car in my previous job and had to hand this back when I left and as my business is new its not earning anything yet to show my income to the lease car companies.

It may not be the cheapest option leasing long term but better for my cashflow in my business as I dont want to pay a lot of cash up front for a second hand car. Would also want something reliable which is another reason i am leaning towards a new lease car rather than an old second hand car.

Thanks

System

It is absolute insanity to go into a leasing deal when you've just started a business as you have no idea of what your income is going to be and the majority of new businesses fail in the first two years. How do you intend to pay for it when your business has yet to generate a single penny in income and may not for several months and you also have start up and running costs to cover during that period as well as having to try to find a way of drawing money so you can eat?

forgotmyname

Better for your cashflow? What cashflow?

You said your business is not earning anything.

Mate bought a van to be his own boss.... in 2 years he lost £7k worth of his own savings after selling the van and settling final accounts.

Hire a car by the day/week instead?

Car_54

Wasn't this considered when you drew up your detailed business plan before leaving your secure job?