Vehicle leasing eligibility requirements

Vehicle leasing overview

Leasing a vehicle offers an appealing alternative to purchasing one outright. It enables you to drive a brand-new car, van, or pickup truck for a predetermined period, with fixed monthly rentals and the option to return the vehicle at the end of the term. Once the agreement concludes, you can simply hand the vehicle back and, if desired, select a new model. This flexibility and convenience make leasing an increasingly popular choice for organisations across the UK—particularly those seeking practical, cost-effective solutions for commercial vans and company cars.

Business vehicle leasing eligibility criteria

For companies aiming to secure reliable, affordable transportation without the administrative burden typically associated with vehicle ownership, business leasing is a strong solution. Leasing is accessible to a wide range of UK businesses, including start-ups, sole traders, SMEs, established corporations, and multi-site organisations.

Minimum trading requirements

There is no strict minimum trading period required to lease a business vehicle. However, newly formed businesses may find it more challenging to obtain finance due to limited or non-existent credit history.

A common solution is a director’s guarantee, which allows the director to personally guarantee the agreement. If the business cannot meet its monthly rental obligations, the director becomes financially responsible. To approve a director’s guarantee, the finance provider will conduct checks similar to those undertaken for a personal lease to confirm that the director is creditworthy and capable of covering repayments if necessary.

VAT registration requirements

VAT registration is not a prerequisite for business vehicle leasing. Companies that are not VAT-registered still have access to a variety of lease products for cars, vans, and pickup trucks. Our team will assess your business circumstances and recommend the most suitable leasing arrangement.

Information required for a business lease

To process a business vehicle lease, providers typically request the following:

Business information

• Registered business name and trading address

• Company registration number

• Annual revenue or turnover information

Director information

• Full name and date of birth

• Marital status

• Residential address history

Business banking details

• Business bank name

• Sort code and account number

Additional requirements for new businesses

Newer enterprises may be asked for further supporting documentation, such as:

• At least three months of business bank statements and/or audited accounts

• Management accounts

• A director’s guarantee (as outlined above)

Personal leasing eligibility

Not everyone automatically qualifies for a personal lease. Because a lease is a form of credit agreement between the customer (lessee) and the finance provider (lessor), applicants must meet certain criteria to ensure affordability and creditworthiness. All information provided is used solely for assessing eligibility.

Personal lease requirements

To qualify for a personal car lease, you must:

• Be at least 18 years old

• Hold a full, valid UK driving licence

• Have a good to excellent credit score

Information needed for a personal lease

Applicants will be asked to provide:

• Full name

• Date of birth

• Contact details (telephone number and email address)

• Five years of residential address history

• Marital status and number of dependents

• Employment and income details

• Bank account information (bank name, sort code, account number)

• Income and expenditure breakdown

• A copy of your driving licence

How we support your leasing application

As part of our leasing process, we carry out a straightforward eligibility and credit assessment to help secure the best possible finance terms for your chosen vehicle. With extensive industry expertise, we advise on the most suitable leasing products—ensuring you find an option tailored to your specific personal or business requirements.

With an impressive average score of 4.9 stars on Trustpilot, we believe our reviews reflect our commitment to customer service. Our knowledgeable team provides expert advice and guidance to help you choose the perfect van and finance product for your needs. As proud members of the British Vehicle Rental and Leasing Association (BVRLA), we uphold the highest standards of service and professionalism. Plus, with our Price Promise, you can be confident you’re getting the best deal available. Rest assured, we are also authorised and regulated by the Financial Conduct Authority (FCA), ensuring transparency and trust in every transaction.