|
|
09-19-2013, 09:24 PM | #1 |
Colonel
266
Rep 2,246
Posts |
Lease Under Business?
Anyone lease their car under their business? Are there two ways to go about it?
Seems you can lease under the business with a personal guarantee or lease only under the business with an increased interest rate and the need to produce two years of financials. If leased only under the business, will insurance premiums be more? Any insight? Thanks! |
09-20-2013, 05:30 PM | #2 |
New Member
0
Rep 6
Posts |
Just did this exact thing a few weeks ago. The finance manager told me that short of being Coke or some other multinational corp. everyone has to personally cosign business leases. My business is small but it may be a different story if you are small biz is earning millions...
|
Appreciate
0
|
09-20-2013, 06:07 PM | #4 |
Captain
44
Rep 646
Posts |
Insurance will usually be higher when the vehicle is registered under a business. I deal with this stuff all the time . Feel free to pm me with any questions.
|
Appreciate
0
|
09-22-2013, 12:07 AM | #5 |
First Lieutenant
156
Rep 386
Posts |
Can't you just lease the car as an individual and then assign the lease to your company?
__________________
2018 750I XDrive. Loaded with Every Package.
Black on Black. |
Appreciate
0
|
09-23-2013, 09:43 AM | #6 |
Captain
44
Rep 646
Posts |
i think you can do this with only one or two cars but you would need to speak to your accountant about this.i know alot of people who lease one or two cars under their personal name and are able to write most of it off as a business expense.
|
Appreciate
0
|
10-03-2013, 05:05 PM | #8 |
Colonel
266
Rep 2,246
Posts |
CRAZY QUESTION: I plan to retire a car registered to my wife and insured under her insurance policy and replace it with a car that will be registered to my business name (I will be a lease co-signer) and will be insured under my insurance policy (we have separate policies and are not listed as operators under each other’s policies). The problem is that I want to transfer the plates from the car we’re retiring and I’ve been told it’s not possible to transfer the plates because if the registration changes, the plates have to be surrendered to the DMV. As a work around I was thinking for my wife to transfer the title of the car we are retiring to the two of us. Any insight on this!? I’m in New York. Thank you!
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|