How to Buy a Car in Your Business Name (2023)

In this video, I will show you how to buy a car in your business name. I will go through a step-by-step process of how to buy a car for your business that you can easily follow.

First, we will go over the step of building the business credit needed to even start thinking about buying a car in your business. Next, you go over how to build business credit then get the financing you need to get approved.

By the end of the video, you will know exactly how to buy a car under your business's name.

Enjoy!

Repair Your Credit:

Current Recommended Credit Cards:

Credit Builders:

Business Credit Lines:

Credit Monitoring

Investment Apps:

Loans:

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DISCLAIMER:
This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author make no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video. This video and description contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for your support!

[lilpump]

ERRAH BROTHER, KEEP PUTTING OUT GREAT CONTENT.

[sarahlee]

GOD !!! ❤THIS GUY IS SO FREAKIN HANDSOME 😂love his content 💯

[offdatgogo]

4 min in and I'm subbed! Thanks for the info. I've had my active LLC since 2012. It's time to kick into high gear. I just started a NET30 with ULINE earlier this yr. 1 goal is to purchase a vehicle under the LLC. With your advice and actions I've already taken, I'm well on my way. Thanks again.

[heavenly]

Would it be smart to lease for a year or so before purchasing a vehicle if your still building credit?

[caviaravatars]

Do you have to finance a vehicle in your llc ? Can you pay cash and write it off 100% through your business.

[akshitdhadwal]

My old car is almost dead and i need a new car or may be used
Will be setting llc tomorrow
So is it advisable to buy a car?

[dogsalwaysbarkatbetamaleswoof]

Bought a model Y in business name to build business credit and take the $7, 500 incentive. I was getting denied for business credit cards in the past so I gave up on that as it was getting annoying. The process with Tesla was relatively easy. However, they do attach your name as personal guarantor. Just have all your business documents. No financial docs needed. I’m am also a sole proprietor. Might be the way to go for someone in need of a good car and a write off. I might not quality for sec. 179, but I need a write off one way or another.

[ConvictCorporate]

Highly suggested you build your personal first, PG the purchase and in a year toss the PG to the corporation cleaning your obligation of liability.

Have minimum of 5 TradeLines, every 3 months ask those companies for an increase.

If you have a C Corp and set it up right, you can get a valuation rather than just what you got.

[jmeepping]

What about having bad personal credit?

[rometheceoo]

I just got my EIN however is it possible to start building business credit without an LLC?

If your business credit is between 80-100, Is there a recommended income per month or year that your business should be earning for the dealership to qualify you for a car? Or does it depend on the price of the car?

[EABengi]

My experian score with one tradeline is already 72, is this high enough to get a loan ?

[Andredelapaz]

why doesnt any youtuber talk about buying a cash car in business name? only talk about financing smh

[phucmac]

Hey @naam,
Quick question. My wife have a business that she does over the weekend, do you recommend that she get an LLC and EIN? We are planning to purchase a model x for both personal and business. How does tax deductible work on that?

[aortizandrew]

You can't use your personal credit?

[daboiskittz]

Could I get a car loan with my new business if I've had a business checking account for about a year or so? I've been doing rideshare for 4 years but never established an llc until this year.

[biggthirsty]

Do those companies like uline(hard inquiries) on your business credit report. Do lenders have rules when it comes to hard inquiries on your business credit

[Jason.F.]

Ok heres my situation. I had to buy a new work truck in my name because of a purchasing program I was using through Ford. Ford business credit has accepted my application to transfer the equity to my business name. Im a sole proprietor. However my business is only 3 yrs old and they want me to act as a guarantor for the business loan. Based on what I heard in your video, that would open me up to personal liability. Which is what I'm trying to avoid by moving it into my business name. Is this the case? If so Im unable to figure out a reason to spend more each year in property taxes. Business taxes for me are almost double. I carry commercial insurance already so thats not an issue. Please help me understand better as to my situation and what the best course of action is. Thanks.

[namle]

As an Uber driver, this video is very useful. Maybe you should target this video toward Uber Drivers.

I am looking for the link to get an EIN online from the IRS.

[prettyandfun]

How old does the LLC have to be to get a car? What I'm asking is say for instance if I build a LLC was formed in a day can I get a car the next day after that ? Or do they have to look at how long the business was making revenue for a length of time ??