Business finance for the car a director actually drives, arranged against the company rather than against you as a private individual.
Whole-of-market — 60+ lenders searched, including
Yes, and it is one of the most common business car facilities we place. The agreement is written in the limited company’s name, the director is named as the driver, and funding is usually hire purchase, finance lease or contract hire. Underwriting starts with the company but rarely ends there — most funders will want a personal guarantee from the director, because the director is the business. The thing that surprises people is that a strong personal credit file does not automatically carry a weak company, and vice versa. Both get looked at, and the weaker of the two tends to set the terms.
Used kit: Yes, and a nearly-new car is often the easier case to get approved
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Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
Director cars are assessed as company debt with a personal layer on top. The funder reads the company first: turnover trend, net worth, drawings level and how existing agreements have been conducted. Then they look at the director personally, because the guarantee is what they will actually rely on if the company stops paying. High drawings against thin retained profit gets questioned. The asset matters too — a depreciating car means the funder is exposed as soon as it drives off, so residual value on a mainstream premium model is easier to support than a heavily optioned niche spec that the trade will not want back. Declines cluster around undisclosed director defaults, dissolved previous companies and cases where the car value is wildly out of step with what the business earns.
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| BMW 5 Series Saloon | Executive saloon for director use |
| Audi A6 Saloon | Refined executive saloon for long journeys |
| Mercedes-Benz E-Class Saloon | Executive saloon with strong residuals |
| Range Rover Sport | Large premium SUV for director duties |
| Volvo XC90 | Seven-seat premium SUV for family and work |
| Tesla Model S | Electric flagship with low benefit in kind |
| Porsche Macan | Performance SUV for a director car |
| Lexus ES | Hybrid executive saloon with quiet cabin |
| BMW i5 | Electric executive saloon for company use |
| Porsche 911 Carrera | Sports coupe held through a company |
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Directors of owner-managed businesses — builders, consultants, practice owners, agency founders — who have been running a personal car on mileage claims and want the cost inside the company. The trigger is often the accountant’s year-end conversation, a personal agreement ending, or drawing dividends to buy a car and realising the business could hold it instead. Usually a single vehicle, often a premium marque, and often ordered against a specific plate change.
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We publish the deals we arrange, with no client named and no rate quoted. See what we have funded in business car finance.
Cars are treated differently from commercial vehicles. A van generally qualifies for the annual investment allowance; a car generally does not, and instead attracts writing-down allowances tied to its CO2 emissions, with fully electric cars in the most favourable position. A car made available for private use also creates a benefit in kind for the driver. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Yes. The company is the hirer and you are the named driver. The lender underwrites the business and will usually take your personal guarantee alongside it. You will need to agree the benefit-in-kind treatment with your accountant, because a car provided to a director for private use creates a reportable benefit.
Almost always, because a director guarantee is standard on owner-managed company facilities. It does not need to be spotless, but undisclosed defaults, recent CCJs or a previously dissolved company will come up. Telling us about them up front lets us place the case with a funder who can work with it rather than having a decline on file.
A company agreement backed by a personal guarantee is not the same as personal debt, but a mortgage lender may still ask about it. That is a question for a mortgage adviser rather than us. What we can say is that the agreement itself sits on the company’s books, not as a consumer credit agreement in your own name.
Yes, that is straightforward. The company takes one facility and each car is a separate schedule under it, which keeps paperwork and renewal dates manageable. Funders generally prefer this to two unrelated applications from the same business landing weeks apart, because they can see the total exposure in one view.
It is still fundable. New companies are assessed on the director’s background, the sector, any contracts in place and often a larger contribution up front. A director with a long track record in the same trade counts for a lot. What is harder is a brand new company, a first-time director and a high-value car all in the same application.
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See everything we fund in business car finance →
Not an offer of finance. All finance is subject to status, affordability and lender approval.
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 07581 364281 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.