Business Car Finance

Generally proof of Director/Partner Status and last years accounts depending on the lender plus drivers licence and ability to sign personal guarantee on the loan.

Not necessarily any longer than personal car finance. The documentational requirements are different but generally no more complicated than personal car finance.

Of course. Simply call 01277 80 80 80 or drop us an email at hello@wefinanceanycar mentioning that you are after business car finance and one of our specialist account managers will contact you.

Put Simply, Benefit in Kind is designed to prevent employees from benefiting from driving a company car for free or enjoying a company car allowance without paying Tax.

In more recent years the Government has also used Benefit in Kind to influence what types of vehicles people opt for on a company car scheme by making more expensive and less environmentally friendly cars attract more tax. You can find more about how it works here but we always advise company car users to consult their tax advisor or accountant if in doubt.

In terms of benefiting, it’s more about legitimately avoiding paying too much tax by understanding the thresholds on the value of the car where you pay more tax and in looking to try and get a car that attracts less tax such as a hybrid or an electric vehicle so that you pay less BIK.