Van finance for Ltd Company

[vikki1975]

I have been to look at new vans and have found a deal im happy with. Im really confused by what the garage is telling me regarding the finance though. Im Ltd company and so does the finance get taken out in my personal name or the companies (I am sole director)
The dealers have put the finance through in my name and got everything accepted then said they just put the invoice in the company name ...... Im sure this isnt right but they insist it is ??? Im confused
Im VAT registered and am also trading in a van that I brought into the company when I incorporated.
Any help out there ???

Thanks

 

[vikki1975]

Is there anybody who can help me on this one ?

 

[businessfunding]

I have been to look at new vans and have found a deal im happy with. Im really confused by what the garage is telling me regarding the finance though. Im Ltd company and so does the finance get taken out in my personal name or the companies (I am sole director)
The dealers have put the finance through in my name and got everything accepted then said they just put the invoice in the company name ...... Im sure this isnt right but they insist it is ??? Im confused
Im VAT registered and am also trading in a van that I brought into the company when I incorporated.
Any help out there ???

Thanks

My guess would be that the proposal was declined in your business name so they put it through in your personal name.

I'm sure an accountant will find a way to handle the VAT and tax involved. I expect one will be along soon..

Presumably the direct debit will come from your personal account (they tend to insist these days that the DD matches the documents), so it will be important that you have funds availavble.

Also check the details on all paperwork, as they may have been less that 100% on your personal details...

 

[APC RoadLink]

They seem to be be circumventing the limited liability of the company, all my vans have been bought through my ltd company. The log books are also in the limited company name as the registered keeper.

 

[vikki1975]

Thanks for a bit of reasurance !

 

[xstu74]

Hi

I work in motor finance, it is common practise if the limited company has been running 3 years or less we will prop in the directors personal details, if the company has been running for longer there is no reason why the cannot propose in the company name.

Regards
Stuart