Business Car Finance

Flexible Business Car Finance for New & Used Vehicles

A business vehicle can be an essential part of your day-to-day operations.

At My Finance Consultants, we compare business car finance across a broad range of bank and non-bank lenders.

We help sole traders, companies and business owners finance new and used cars with repayment structures suited to their cash flow.

What Business Cars Can Be Financed?

Finance is available for a broad range of eligible vehicles used for business purposes.

This can include passenger cars, SUVs, utilities and selected specialist vehicles.

Dealer purchases generally provide the widest lender choice.

Private-sale and selected auction purchases may also be considered, subject to lender requirements and vehicle verification.

The vehicle's age, condition, purchase price and intended business use can affect the available finance terms.

Business Car Finance Options

Chattel Mortgage

A chattel mortgage is commonly used where your business wants to own the vehicle.

The lender provides funds towards the purchase while registering security over the financed car.

Repayments are then made over an agreed term.

Balloon Payments

Selected lenders allow a balloon payment to remain at the end of the finance term.

This can reduce your regular repayments and help preserve business cash flow.

A larger balloon also means a larger final repayment, so we compare different structures before you proceed.

Leasing Options

Selected businesses may also consider leasing rather than purchasing the vehicle outright.

The available structure and end-of-term options depend on the lender and product.

Your accountant should confirm the tax treatment of the proposed finance arrangement.

New, Used & Private-Sale Car Finance

Both new and used business cars can be financed.

Used vehicles may be subject to maximum age requirements or shorter loan terms.

Private-sale vehicles can also be financed with selected lenders.

Additional checks may be required to confirm ownership, vehicle details and the purchase transaction.

Auction purchases can also be considered where the lender's requirements and settlement timeframe can be satisfied.

What Lenders Consider

The lender will assess both your business and the vehicle being financed.

This can include your trading history, credit profile, existing debts and ability to meet the proposed repayments.

The lender may also consider the vehicle's age, value and resale market.

Established businesses may qualify for streamlined documentation with selected lenders.

Newer businesses can still have options where relevant industry experience, income and other lender requirements are satisfied.

Related Business Vehicle Finance

For a secured vehicle-loan structure, visit Business Car Loans.

For broader commercial vehicle options, explore Business Vehicle Finance and Business Vehicle Loans.

If you are purchasing an electric vehicle, visit Electric Vehicle Finance.

Businesses needing a commercial van can also explore Van Finance.

For our complete range of asset-finance solutions, visit Business Equipment Financing.

Our Business Car Finance Process

Review Your Vehicle Purchase

We discuss the vehicle, supplier, purchase price and intended business use.

We also review your preferred finance term, contribution and repayment structure.

Compare Suitable Lenders

We compare appropriate vehicle lenders based on your business and the car being purchased.

We assess rates, fees, documentation requirements, balloon options and vehicle policy.

Application & Approval

We prepare your finance application and coordinate the documents required by the selected lender.

We then manage lender questions and approval requirements.

Settlement

Once approved, we coordinate settlement with the dealer or approved seller.

This helps keep payment and vehicle handover progressing smoothly.

Frequently Asked Questions

Can I Finance a Used Business Car?

Yes. Many lenders finance used business vehicles, although age and condition can affect the available loan term.

Can I Finance a Car From a Private Seller?

Yes. Selected lenders finance private-sale vehicles.

Additional ownership and vehicle verification may be required before settlement.

Do I Need a Deposit?

Not always.

Some established businesses may qualify for finance covering the full eligible purchase price, while other applications may require a contribution.

Can I Include a Balloon Payment?

Yes. Balloon payments are available with selected lenders.

A balloon can reduce regular repayments but leaves a larger balance payable at the end of the finance term.

Can a New Business Obtain Car Finance?

Yes, with selected lenders.

Your business history, industry experience, credit profile and available contribution can affect the options available.

Can I Finance an Electric Business Car?

Yes. Electric vehicles can be financed for eligible business purposes.

You can also view our dedicated Electric Vehicle Finance page for more information.