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Thunder_Mountai's avatar
Thunder_Mountai
Explorer II
May 23, 2015

Financing and Insurance for Montana LLC

Getting ready to pull the trigger on Montana LLC and new Winnebago. I've learned that insurance and financing are a bit tricky. In most states you can't write an insurance policy for a vehicle registered outside of that state. Financing is also limited as not every company will finance a vehicle in a LLC. And, does anyone know of finance company that goes further out than 20 years?

Please share you're experience with company names and contact information. Would especially like to hear from those in Colorado.
Class A
  • BobGed's avatar
    BobGed
    Explorer
    May 23, 2015
    I agree with westernrvparkowner. A Montana LLC will legally work in certain situations, and can save a coach owner a lot of money in taxes. However you do need to very careful. Hopefully you have gone over your particular situation in detail with your Montana attorney, but keep in mind, unless he is also licensed in CO, he cannot represent you in CO.

    The following article is quite a few years old, but I can't imagine Colorado is any less vigilant in their tax collection efforts. Colorado cracking down on illegal Montana LLCs
  • bluwtr49's avatar
    bluwtr49
    Explorer II
    May 23, 2015
    For insurance try Hi Sage. They are quite good and broker quite a few companies.

    For financing, you can work with the dealers finance officer who will have done this before. Alternatively Google RV finance and you will find several that broker institutions that are OK with Montana LLC. This is very common so there is a lot of experience out there...let google be your friend.
  • westernrvparkow's avatar
    westernrvparkow
    Explorer
    May 23, 2015
    Grandpere wrote:
    legally you have to license the RV in what ever state it is in, having a montana llc will not get you around that law, unless you already live in montana
    A Montana LLC is setting up a company, based in Montana, to own the RV. It will be registered in Montana and you will have Montana license tags. IF (big if) you don't intend to take the RV back to your home state, it makes sense and can be morally justified. If you plan on living in Colorado, and parking it at your house for the 300 days a year you don't take trips in it, it is clearly a tax dodge and Colorado should and will come after you. The two most obvious instances where a LLC makes the most sense are full timers, with no ties to any particular state and those people who do not bring the RV to their home area.
    It will complicate the financing and insurance. Much higher risks for both.
  • 2lazy4U's avatar
    2lazy4U
    Explorer
    May 23, 2015
    Financing for over 20 years? Be sure to run the numbers for what that rig will really cost after depreciation and interest.
  • bluwtr49's avatar
    bluwtr49
    Explorer II
    May 23, 2015
    Grandpere wrote:
    legally you have to license the RV in what ever state it is in, having a montana llc will not get you around that law, unless you already live in montana


    Not totally correct. Most often you can not registrar it in the state of purchase unless it's your home state (where your DL is issued).

    Depending on the state of purchase, you may just need to have the dealer send all the paperwork to the Montana LLC attorney but it can still get a bit more complicated as to where delivery is taken. Chat with the prospective dealer as they will have a lot of experience in this matter and probably have already worked with your LLC attorney.
  • Grandpere's avatar
    Grandpere
    Explorer
    May 23, 2015
    legally you have to license the RV in what ever state it is in, having a montana llc will not get you around that law, unless you already live in montana

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