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 ...
Forum Discussion
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.
