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tama2112's avatar
tama2112
Explorer
Jul 01, 2017

Financing for Company-owned 5th Wheel?

Hi folks,
Two dealerships I am working with are running into roadblocks with my financing. I need my corporation to own the 5th wheel for tax purposes, but the lenders that the dealerships use only offer loans to individuals.

Any ideas? I do not want to lease the 5th wheel to my company, it needs to own it.

Thanks!
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  • mich800's avatar
    mich800
    Explorer
    Jul 01, 2017
    tama2112 wrote:
    Hi folks,
    Two dealerships I am working with are running into roadblocks with my financing. I need my corporation to own the 5th wheel for tax purposes, but the lenders that the dealerships use only offer loans to individuals.

    Any ideas? I do not want to lease the 5th wheel to my company, it needs to own it.

    Thanks!


    Unless your business has a significant credit history you will most likely also need to be on the loan as the guarantor or primary. It can still be registered/titled in the company's name and loan paid with company funds but the bank is really relying on your credit.

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