According to a report in The Guardian in 2014, "self-employment in the UK is at its highest level since records began almost 40 years ago, according to the Office for National Statistics. There are 4.6 million people working for themselves, with the proportion of the total workforce self-employed at 15% compared with 13% in 2008, and 8.7% in 1975."
If you are self-employed, it is your financial situation that determines whether you fall into the Business or Personal Leasing category as well as what you are looking for from your new vehicle. If you’re unsure which option to go for, ask your sales advisor – they will be happy to help.
For example; If yours is a new business and you are unable to provide 3 months worth of bank statements for your business, you may be able to lease a vehicle on a personal basis instead.
It all boils down to the fact that, in order to lease a vehicle through Nationwide Vehicle Contracts, your business will need to undergo a credit check as part of the finance application process.
What we need to know about your business
We ask you to fill out an online Business Finance Application Form, where we ask about your company and the business that it does.
In certain circumstances, especially if your business is less than a year old, or you’ve previously been denied vehicle finance, you will be asked to provide additional information that will include 3 months’ business bank statements, and may include a copy of your Management accounts and/or a director’s guarantee
If you want to find out if your business is likely to be accepted for finance, take our brief interactive questionnaire.
If you’ve taken our quiz and are find that you are likely to be eligible for finance, why not take a look at some of the latest offers that we have available before contacting our representatives.
Once again, as with Business Leasing, in order to lease a vehicle through Nationwide Vehicle Contracts, you will need to undergo a credit check as part of the finance application process.
You will be asked to fill out an application form online (Personal Finance Application Form) where you will be asked to provide the following information:
When it comes to self-employment, information about employment history, monthly income and expenditure and future prospects are very important to determine whether or not you are able to afford the lease you have applied for.
Take our brief interactive questionnaire to find out if you are likely to be accepted for personal leasing finance, and once that has been completed (and you find that you are eligible), contact one of our representatives to discuss further.
In the meantime, why not take a look at some of the latest offers that we have available to whet your appetite.