New Ltd start up - vehicle lease.

[Denpot29]

Hi All,

I’ve had a quick search, but can’t find any info on vehicle leasing for a brand new start up Ltd co.

More specifically can anyone recommend a lease company that will assist with a brand new start up? I don’t really want to do a director guarantor.

Only need 3 vehicles, personal experience/recommendations would be great.

Thanks.

Steve.

 

[FreddyG]

I don’t really want to do a director guarantor. Only need 3 vehicles,

Ha! Ha! So you want some company to lend over £100k to an entity that is of limited liability and can be dissolved in a heartbeat? And you want that in today's economic climate of recession, depression, and uncertainty?

 

[scstock]

I've been in business 30 years and still had to provide a Personal Guarantee for a car lease.

 

[intheTRADE]

No lease company is going to lease a single vehicle let alone 3 to a company just formed for £20 and no trading history

 

[JEREMY HAWKE]

I dont want to give a PG
If you steal the vans from the gypsys you still have to give a PG and even some of the big companies won't lease to a new LTD company with a PG now they just won't deal with you

What is the reason that you won't give a PG you must already feel that a supplier might be taking a risk with you

 

[Denpot29]

Ha! Ha! So you want some company to lend over £100k to an entity that is of limited liability and can be dissolved in a heartbeat? And you want that in today's economic climate of recession, depression, and uncertainty?

Hi FreddyG

Appreciate the reply to my first post! Maybe I’m in the wrong house!!

I’m hoping someone, who has been in my situation with a Ltd startup, could possibly point me in the direction of a specific vehicle leasing broker, who specialises in leasing vehicles for 24 months at a monthly cost.

Thanks.

 

[Denpot29]

I've been in business 30 years and still had to provide a Personal Guarantee for a car lease.

Thanks, appreciate the reply, if a PG is standard, then I’ll have to look at that.

All new to me, so just trying to learn as I go.

Thanks all.

 

[fisicx]

There are lots of leasing companies will do a monthly deal. But they will all want a PG. which means you (not as a director) foot the bill if the company goes belly up.

Do they have to be leased? Can’t you get 3 secondhand cars from your local dealer.

Or use your own car and pay business insurance

 

[Denpot29]

No lease company is going to lease a single vehicle let alone 3 to a company just formed for £20 and no trading history

Ok my nativity shines through here! No problem. Thanks.

 

[Mark T Jones]

Hi FreddyG

Appreciate the reply to my first post! Maybe I’m in the wrong house!!

I’m hoping someone, who has been in my situation with a Ltd startup, could possibly point me in the direction of a specific vehicle leasing broker, who specialises in leasing vehicles for 24 months at a monthly cost.

Thanks.

I know brokers who specialise in vehicle leasing.

As you've now realised, a PG (with some substance) will critical- its also likely they will need a reasonable deposit

 

[fisicx]

Good point. The leasing company will want to know you can cover the PG. which might mean using your house as equity.

 

[FreddyG]

get 3 secondhand cars from your local dealer.

This!

All new to me, so just trying to learn as I go.

Don't! Learn first - then go!

There are plenty of books and courses on how to start and run a business. But it's a big subject and filled with big pitfalls to catch the unwary!

 

[Denpot29]

Thanks all, much appreciated.

Steve.