How to refinance a car or van from your own name into your limited company.
Many business owners have cars or vans previously financed in their own names. This could have suited you at the time you bought the car or van but months or years later there could be a need to refinance the vehicle into your limited company name.
There's various reasons why you may need to refinance the car or van into your business name.
1. You may be looking at an imminent mortgage application and need to get any non essential personal debt reduced.
2. The car or van may have been a personal vehicle to start with but is used more in the business now and the financing of it should ideally be in the limited company name.
3. You may not have had access to business finance at the time you bought the vehicle and had to put it in your personal name.
4. You may have been a new start business at the time of purchase with limited options.
Whatever the reason we can look to help arrange the refinance of your car or van into your limited company name.
Limited companies (including those newly established) are eligible to apply for vehicle refinance. We've even been able to refinance vehicles where other lenders haven't been able to help, as we have a panel of specialist lenders.
Payments can be spread over a number of years on a Hire Purchase agreement. At the end (subject to all payments being made and any option to purchase fee if applicable) you will own the vehicle outright. In some instances, and depending on your credit circumstances and the age and mileage of your vehicle, a Lease Purchase agreement with a small balloon can be obtained.
You will need to obtain an up to date settlement figure and letter from your current lender as we'll need the exact settlement amount for your new agreement. We'll then arrange to pay off your existing finance. It's very much a straight forward process and we'll talk you through it step by step.
How do you apply? It's easy. You can access our online application form here, or click either of the blue "Apply" buttons on the page. You can also apply via the online calculator. Once you've submitted your application one of our team will call you back to obtain the vehicle details and any further information that is required.
We are a trusted credit broker with a panel of competitive banks and lenders - click here to see recent Trustpilot and Google reviews from previous customers. There's no fee for our service and we provide:
There's various reasons why you may need to refinance the car or van into your business name.
1. You may be looking at an imminent mortgage application and need to get any non essential personal debt reduced.
2. The car or van may have been a personal vehicle to start with but is used more in the business now and the financing of it should ideally be in the limited company name.
3. You may not have had access to business finance at the time you bought the vehicle and had to put it in your personal name.
4. You may have been a new start business at the time of purchase with limited options.
Whatever the reason we can look to help arrange the refinance of your car or van into your limited company name.
Limited companies (including those newly established) are eligible to apply for vehicle refinance. We've even been able to refinance vehicles where other lenders haven't been able to help, as we have a panel of specialist lenders.
Payments can be spread over a number of years on a Hire Purchase agreement. At the end (subject to all payments being made and any option to purchase fee if applicable) you will own the vehicle outright. In some instances, and depending on your credit circumstances and the age and mileage of your vehicle, a Lease Purchase agreement with a small balloon can be obtained.
You will need to obtain an up to date settlement figure and letter from your current lender as we'll need the exact settlement amount for your new agreement. We'll then arrange to pay off your existing finance. It's very much a straight forward process and we'll talk you through it step by step.
How do you apply? It's easy. You can access our online application form here, or click either of the blue "Apply" buttons on the page. You can also apply via the online calculator. Once you've submitted your application one of our team will call you back to obtain the vehicle details and any further information that is required.
We are a trusted credit broker with a panel of competitive banks and lenders - click here to see recent Trustpilot and Google reviews from previous customers. There's no fee for our service and we provide:
- Access to our online vehicle finance calculators.
- Access to our credit application and eligibility check.
- Access to a range of high street banks and other specialist refinance lenders.
- A dedicated relationship manager service to guide you through the application process.
- Future client support.
What's the catch? There isn't one, this is how it should be. Our aim is to build long and lasting relationships with our business and private customers, it's as simple as that.