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  • FIRST POST
    • danbentonsmith
    • By danbentonsmith 10th Jan 18, 8:48 PM
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    danbentonsmith
    Obtaining credit through limited company with poor personal credit
    • #1
    • 10th Jan 18, 8:48 PM
    Obtaining credit through limited company with poor personal credit 10th Jan 18 at 8:48 PM
    Hi, I have a limited company in which I am the director and only employee.
    I have poor personal credit although I have been gradually building this again over the past couple of years and wanted to know if I would be able to get a lease car through my limited company?
    The company is fairly new and is turning over around 3k a month.
    The company nor myself has any debt.

    Is there a way around this?
    Many thanks
Page 1
    • Tarambor
    • By Tarambor 11th Jan 18, 12:08 PM
    • 3,070 Posts
    • 2,222 Thanks
    Tarambor
    • #2
    • 11th Jan 18, 12:08 PM
    • #2
    • 11th Jan 18, 12:08 PM
    The only way to find out is to try. Thing is though can the company afford to see 10% of its turnover go out the door on a lease car? Personally given how many companies fail in the first 2 years it seems a bit silly and being a director and it being a Ltd Company doesn't automatically let you off the hook for the company debts if the OR deems you acted negligently.

    Do you actually need a new car or is it just a case of want? If you can manage with what you've got you're better doing that until the business is more established.
    • camelot1971
    • By camelot1971 11th Jan 18, 4:45 PM
    • 825 Posts
    • 1,231 Thanks
    camelot1971
    • #3
    • 11th Jan 18, 4:45 PM
    • #3
    • 11th Jan 18, 4:45 PM
    A new company with no accounts is not going to get credit for anything, let alone a lease, unless there is a personal guarantee as well. You are unlikely to qualify with poor personal credit - sorry.

    There are probably van finance companies who could lend you the money but at some stupid APR - don't do it!
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