Reviewed by
Billy Lang, Director
FCA Registration No: 835008
The situation
You have just incorporated. There are no filed accounts yet. Most leasing forms ask for two or three years of trading history before they will even talk to you, then run a hard credit search before they say no.
We do this differently. We start with a soft credit search — no footprint, no impact on your score — and we make decisions based on the wider picture: the director's history, the nature of the business, contracts in place, and affordability.
Who this is for
When a personal lease is genuinely the better option
Putting the lease in the company is not always the right answer. If the vehicle will be used mostly personally, if VAT recovery is not relevant, or if the personal credit picture is stronger than the company's, a personal lease may be a cleaner route. If you trade as a sole trader rather than a limited company, see leasing for sole traders; if you are self-employed in another structure (or partnership), see leasing for the self-employed. We will tell you which side of the line you are on, honestly, before you commit to either.
Two products to choose between
Flexi Lease
Rent and return
6 to 48-month terms with the flexibility to swap or hand back. Best when the business needs are still evolving.
See Flexi Lease
Rent to Buy
Rent and own
Same start, different ending — keep the vehicle at the end of term. Best when ownership is the goal.
See Rent to Buy
Want them side-by-side? See Flexi Lease vs Rent to Buy for the honest cost-and-ownership comparison.
How to choose term, mileage, and deposit
Term
Shorter terms cost more per month but tie you in less. New companies often start short and extend later as the business stabilises.
Mileage
Estimate honestly. Excess-mileage charges hurt at the end. Better to lease an extra 5,000 miles you might not use than the other way round.
Initial rental
1.5 or 3 months up front, depending on circumstances. New companies typically sit on the higher of the two until trading history builds up.
Eligibility module
What may affect approval
- Company structure and Companies House status (active, dissolved, in process of dissolution)
- Director's personal credit picture and history
- Affordability — committed personal and business outgoings
- Nature of trading — contracts, sector, customer base
- Personal guarantee in place where required
- Identity and address verification — regulatory, not a judgment
All applications are subject to status. We do not offer guaranteed approval. Where a personal guarantee is required, we will tell you up front.
What happens next
- 1
Quote & soft check
Five-minute online quote, or call us. Soft search runs in the background — no impact on score.
- 2
Honest indication
We come back with what we can do, terms, and any conditions (typically a director guarantee).
- 3
Vehicle & agreement
You pick the vehicle, we finalise term and mileage, full agreement is drawn up.
- 4
Hard search & sign
Hard search runs at this stage, with your knowledge. You sign.
- 5
Delivery
Collect or have it delivered. Get on with running the business.
The 1.5 vs 3-month initial rental rule
We typically structure initial rentals at either 1.5 months or 3 months. New limited companies usually sit on the 3-month structure for the first year of trading, with the option to move to the 1.5-month structure once accounts are filed and trading history builds up.
The total cost over the lease is the same either way — only the cash up front differs. Choose what works for the business cashflow today, not what looks lower on a brochure.
The questions directors ask first
“I have no accounts yet.”
Not a blocker. Newly incorporated companies typically do not.
“My personal credit isn't perfect.”
The soft check sees the picture, not just the score. More on imperfect credit.
“Will I have to give a personal guarantee?”
For new companies, usually yes. We will tell you up front, not bury it in the paperwork.
“What if I'm declined?”
We tell you, with as much detail as we can give. No mark on the file from the soft check.
A real example
Placeholder — awaiting real case study
Anonymised approval — sub-12-month limited company
Short paragraph describing one real director (no name) of a company under 12 months old who was approved, what made the wider picture work, and the vehicle / term they ended up with. Client to supply.
Frequently asked questions
Can I lease a vehicle if my company is less than 12 months old?
Yes. We regularly approve newly incorporated limited companies that have not yet filed their first set of accounts. We use a soft credit search and look at the wider picture — the director's circumstances, the nature of the trading, contracts in place, and affordability.
Do I need filed accounts?
No. Filed accounts are not a requirement at the eligibility stage. Newly incorporated companies typically do not have them yet, and that on its own does not stop us proceeding.
Will I need to give a personal guarantee as the director?
In most cases for newly incorporated companies, yes. A director's personal guarantee is a normal part of business leasing where the company is too young to stand on its own trading history. We will be explicit about it before the agreement is signed — no surprises.
Does this affect my personal credit score?
The eligibility-stage soft credit search does not affect your personal score. A hard search may run at full agreement stage if a director guarantee is in place. We will tell you before that happens.
Can the lease go through the company for VAT purposes?
[PLACEHOLDER — to be confirmed by the client's tax adviser] Business leases on commercial vehicles can typically allow VAT-registered companies to recover a proportion of the VAT, depending on use. Speak to your accountant for advice that fits your specific circumstances. We can structure the agreement either way.
What is the minimum trading time you accept?
There is no fixed minimum at the company level — newly incorporated companies (sometimes pre-trading) can apply. The wider picture matters more than the date on the certificate of incorporation.
How long does a quote take?
Online quotes are typically returned within one working day, often the same day. If you are time-sensitive, call us on 01392 249250 and we will move faster.
All applications are subject to status.
We do not offer guaranteed approval. A director's personal guarantee may be required for newly incorporated companies and we will disclose this before any agreement is signed. First Flexi Lease is a trading name of Oak First Investments Ltd. FCA Registration No: 835008. Authorised and regulated by the Financial Conduct Authority.
Ready to see what we can do?
Quote in minutes, soft search in the background, honest answer either way.
