Board Topic: Business auto loan
Click here to view this topic in its original format
LoanUniverse Community > General Chat >

Business auto loan

Posted by: Blake Oct 19 2004, 11:19 AM
What companies offer competitive loans for businesses looking to purchase used automotives for business purposes? Will I not be able to find rates like those found at capital one (4.79% for used dealer to person)?

Posted by: loanuniverse Oct 19 2004, 03:48 PM
Blake:

My only experience with "transportation equipment" financing for business has been when there is an existing relationship with the borrower {ie: We finance the building or we provide working capital financing}. For some of our relationships, I have done these loans at “floating prime”, which means that good financing is available to some.

If you are a small business owner, you might want to consider financing the car personally and deducting the expense from the business taxes. {of course consult the IRS or a tax advisor about the feasibility of that strategy}.

You might also want to take a look at leasing. It is my understanding that there is more deductibility that way. {Once again consult the IRS or a tax advisor about the feasibility of that strategy}.

Good luck
email

Comments are closed.