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Business Auto Loan

Discussion in 'Model S' started by Mhotep, Nov 18, 2013.

  1. Mhotep

    Mhotep Member

    Joined:
    Aug 22, 2013
    Messages:
    57
    Location:
    Martinsville, Virginia, United States
    Need a little help securing financing. I've decided on the car I want to get but want to put it in the business. Penfed who I normally go to for personal auto loans doesn't finance for business. Same for Alliant. The current truck I have financed through a small bank but I can't seem to them on the phone today. Anyone know of a bank with good rates financing business auto loans?
     
  2. Lloyd

    Lloyd Active Member

    Joined:
    Jan 12, 2011
    Messages:
    4,883
    Location:
    San Luis Obispo, CA
    You can have both yourself and your business on the title. Your business can make the payments etc. but you will be primary so your regular financing can still do it for you. That was my solution through Alliant.
     
  3. Mhotep

    Mhotep Member

    Joined:
    Aug 22, 2013
    Messages:
    57
    Location:
    Martinsville, Virginia, United States
    Okay, that really helps. A few more details though. So I apply, then how do I get the business on the title? Is the business a joint/co-applicant on the application, or does it get added later.

    - - - Updated - - -

    Okay, that really helps. A few more details though. So I apply, then how do I get the business on the title? Is the business a joint/co-applicant on the application, or does it get added later.
     
  4. Lloyd

    Lloyd Active Member

    Joined:
    Jan 12, 2011
    Messages:
    4,883
    Location:
    San Luis Obispo, CA
    Have Tesla put both you and your business on the title. But for the financing, YOU have to be first.
     

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