There are a wide range of vehicle finance options available to self-employed workers and it’s important to determine which one best suits your needs as well as business cash flow.
There are many advantages to Self-employed car loan options such as your car costs may be tax deductible, one of the advantages of running your own business is that you may be able to claim part of your car's costs including loan interest, as a tax deduction. This can make your choice of car and vehicle finance, surprisingly affordable.
To obtain a self-employed car loan you need to be able to prove your income, Lenders generally look for income tax returns and accounting records to determine your income therefore, it's worth having these on hand when you’re ready to start taking test drives.
Your broker can help, partnering with a reputable broker with access to a generous panel of lenders doesn't just streamline the process of securing vehicle finance. It means you don't have to do any legwork hunting down the right loan. Your broker does it all for you, so you can concentrate on growing your business.
It always makes sense to compare the cost of different funding alternatives, and your broker can help here too as brokers work closely with lenders, they are well-placed to negotiate on your behalf if your circumstances are out of the ordinary. It's something that can be far harder to achieve on your own.
For more information, contact Tim and the team today.