Car Purchase/Lease - New Business
Discussion
Hi Guys
I am looking at potentially getting a Tesla Model 3 or a Y. Its all affordable and there's some good PCP and lease deals, it would be perfect for me. The idea is to buy it through my business, a LTD and VAT registered company.
The only thing is, my business was only formed back in Feb 2023.
At the Tesla showroom today the lady there said that usually you need 2 years of books for it but that other places might not. Reading a little into it it looks like the general consensus is that if you have less than 2 years then it might go on the last 3 months bank statements, business accounts and a director guarantee.
Has anyone any had any experience with this kind of thing?
I am looking at potentially getting a Tesla Model 3 or a Y. Its all affordable and there's some good PCP and lease deals, it would be perfect for me. The idea is to buy it through my business, a LTD and VAT registered company.
The only thing is, my business was only formed back in Feb 2023.
At the Tesla showroom today the lady there said that usually you need 2 years of books for it but that other places might not. Reading a little into it it looks like the general consensus is that if you have less than 2 years then it might go on the last 3 months bank statements, business accounts and a director guarantee.
Has anyone any had any experience with this kind of thing?
Jack-h6pfh said:
Hi Guys
I am looking at potentially getting a Tesla Model 3 or a Y. Its all affordable and there's some good PCP and lease deals, it would be perfect for me. The idea is to buy it through my business, a LTD and VAT registered company.
The only thing is, my business was only formed back in Feb 2023.
At the Tesla showroom today the lady there said that usually you need 2 years of books for it but that other places might not. Reading a little into it it looks like the general consensus is that if you have less than 2 years then it might go on the last 3 months bank statements, business accounts and a director guarantee.
Has anyone any had any experience with this kind of thing?
I'm not having a pop it's just that reading your explanation of only having a short trading history reminded me of something...I am looking at potentially getting a Tesla Model 3 or a Y. Its all affordable and there's some good PCP and lease deals, it would be perfect for me. The idea is to buy it through my business, a LTD and VAT registered company.
The only thing is, my business was only formed back in Feb 2023.
At the Tesla showroom today the lady there said that usually you need 2 years of books for it but that other places might not. Reading a little into it it looks like the general consensus is that if you have less than 2 years then it might go on the last 3 months bank statements, business accounts and a director guarantee.
Has anyone any had any experience with this kind of thing?
My experience is where someone setup a business and made a single sale. Apart from ignoring all costs and considering all the revenue to be profit it was just a single sale. On the basis of that sale they made a number of optimistic monthly and annual projections which they used to take out a number of business and personal loans and leases. They never paid on a single commitment. As they never had anything to start with they lost nothing and got away with it all apart from a load of agro that was mainly dealt with the people around them.
Not saying that applies to you.
Yeah that makes sense. Obviously I know that's not the case but I would presume that's why the director guarantee is a thing.
Contacting a few lease companies they allow you to do it as long as you pay a slightly higher upfront payment which might be an option.
Basically the Personal PCP I have at the moment is at the perfect time to get rid of! If I sell now I can sell it for exactly what the Settlement Figure is! I fear in a year or 2 and 20k miles a year later (contracted for 12k but change in job) its going to be worth a lot less and ill be out of pocket!
Good and bad timing really!
Contacting a few lease companies they allow you to do it as long as you pay a slightly higher upfront payment which might be an option.
Basically the Personal PCP I have at the moment is at the perfect time to get rid of! If I sell now I can sell it for exactly what the Settlement Figure is! I fear in a year or 2 and 20k miles a year later (contracted for 12k but change in job) its going to be worth a lot less and ill be out of pocket!
Good and bad timing really!
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