How to Lease a Company Car Without a Cosigner

Even though you plan to lease a car in your business's name, you must apply as the lease's guarantor. A leasing bank uses your personal credit information, income and payment history to determine whether to approve your lease application. Upon approval, you may register and title the car to your business. If you fail to make payment, your own personal credit will suffer. Good credit is a requirement of lease approval, so if you can't obtain an approval because of less-than-perfect credit, you might have to finance the vehicle instead.

Instructions

1

Call a dealership and make an appointment to test drive a vehicle and submit a lease application. If you're unsure about lease prices or which cars suit your needs, visit manufacturer websites to review specifications, lease specials and vehicle options.

2

Test-drive the vehicle you want. If the car suits your needs, let your salesperson know that you'll be registering and titling the vehicle to your business. Fill out a credit application.

3

Provide your personal information, such as Social Security number, date of birth and housing cost. When stating your income, report the amount you claimed the previous tax year. Leasing banks require tax returns for proof of income for self-employed borrowers.

4

Wait for your approval. Dealers submit lease applications electronically to lenders, so the approval shouldn't take long. Discuss the lease terms with your salesperson to ensure they're affordable and manageable, such as the mileage allowance and down payment requirement.

5

Provide your proof of income, business license and tax identification to your salesperson. Add the vehicle to your insurance policy, or authorize your salesperson to call your insurance company to obtain state and lessor required documents, such as insurance cards and an insurance binder. Ensure your information and your business information is correct before signing your contract.