How To Buy A Car With Business Credit

how to buy a car with business credit did you know that you can legally and ethically buy a car in your business's name yes you no matter how big or small your business is you can get cars and other Assets in your business's name in this video I'm going to share with you all the secrets on how you get that done let's go [Music] fix that investment to get back trying to get a big stack she can fix that let's fix that special thanks to Northland for sponsoring this video there are so many amazing things to do with cars and I cannot wait to share with you but getting a North one business checking account will let you do that I'll get to that in just a little bit I'm gonna share with you an easy step-by-step process on how to buy a car in your business's name I'm going to share with you three hidden tricks to getting approved for a business loan and I'm going to share with you the best companies to get a business auto loan with getting a car in your business's name can open up the door to making money with cars so many people don't realize that you literally can make money with cars and putting them in your business's name is an amazing way to do that not only can you get cars in your business's name and then rent them out on places like Toro and Car hire you literally can use them as company cars you can get the cars wrapped as we did in this example I'll show you this one or I have another pickup truck like this you can also use cars to promote and Market your business so as you're driving around doing different things with your business you're literally promoting and showing off your business business that has your phone number it has your website people can learn what you do and it's like a driving billboard also you can create an entire business that uses cars for example you can create an Uber business or a taxi cab business with the cars and just find drivers to drive your car so that you are making money all the time off of your cars or you can create a delivery service with your cars you can do things like ubereats or doordash and even make money having other people do those delivery services for you you can even do medical supplies there are so many things that you can deliver once you have cars and getting cars in your business's name is an easy things to do so that you can create not only the business that you have but other businesses too where you can make money off of those cars and turn those cars into assets let me keep going first you need to decide lease or Finance so many people know about cars and understand that you can lease a vehicle literally you can pay a small down payment and then pay a monthly payment and then give the car back after two three or four years this will have a lower monthly payment and if your business is set up correctly this is a tax deduction literally you conduct the entire lease payment when you do your tax for your deductions now again Noel is not a tax professional or an attorney so I'm not advising you on what to do for your tax returns but just know that I am able to write off all of the lease payments that I have when I put the car in my business's name and when I lease cars for my business I am able to then write those things off so leasing a cart is one of the things that people often do and it is very easy to lease a car in your business's name this is very well established and many real estate agents mortgage brokers and different types of people that drive cars for their business will get a car leased in their businesses name now I have done this and I have not found that the tax deductions have really been as great so let me tell you the next option that you have you can also then finance a car so you can finance a car in your business's name you can get the card registered in your business's name and you can even get the financing in your business's name or or one or the other you can actually register car in your business's name but you are the one on the car loan but for this situation I'm talking about where you're financing the car in your business's name and the car is registered in your business's name this is one of the options that I really like because you can write off the expenses attached to the car so for example where I said you were leasing the vehicle you could write off the entire lease payment well when you finance a car you are not able to write off the loan payments however you can do a tax deduction for the mileage that you drive or you can write off all of the expenses like the oil changes and the maintenance and things like that and create a really good tax deduction so I have found that actually financing cars has been more beneficial for me than leasing in my business's name but trust me from experience I have done both I literally am going to show you a couple of the cars that we have and I'm going to show which ones are least and which ones are financed just so you can see the third option that you have is you can pay cash for heart and I actually really like this idea because you can do this with business loans with business lines of credit and things like that and still put it in your business's name but not have a car note and still get a lot of those deductions for the mileage and things like that now many people will think that they don't want to get a car lease or a car loan because they don't want a monthly payment so buying a car for cash will eliminate that from happening this way once you've paid for the car it's paid for you don't have any car notes or things like that you just have the expenses and again the expenses are tax deductible so it can be a great benefit for you as a business owner and additionally you can use business lines of credit or other business loans to buy the car cash and own the car outright and it'd be an asset for your business and in many cases people will loan you even more money for your business because you have an asset in your business's name so there's so many different things that you can do once you start making money with cars but I always suggest that you make money and turn those cars into assets where you're using them to make money like rental cars or ubereats business or Uber business instead of just a company car most people do get cars and their businesses name for a company car that they can drive around or their employees drive around but I think for most people this should be something that you do down the line not when you first get started yes you can absolutely get a car in your business's name and in many cases the business doesn't even have to be two years old let me explain that part to you in order to get approved for a car in your business's name you're going to have to have an actual business and one of the things that will give you more funding options is having a business checking account I'll get to that in just a second so here are the five things that every businesses need in order to get funding especially for a car loan you're going to have to have your business registered with the Secretary of State meaning an LLC limited liability company or a corporation it can be an S corp a C Corp or a non-profit Corporation the next thing you're going to need is an EIN which stands for employer identification number you're going to need a professional website a professional email and a professional phone number you can get all of these things in just one day in Most states and you can do it all online this will mean you have a legitimate business that when you go to buy your car they can literally look to the Secretary of State's website and they can pull you up additionally once you have these five things you can even get business credit established I'll get to that in a second but another thing that you can get that will put you where you can get more funding options is to have a business checking account one of the companies that I absolutely love for your business checking account is North one North one is a banking platform that you can do all online to get a business checking account so many new businesses startups side hustles entrepreneurs need a business checking account so that they can separate their personal expenses from their business expenses but for me it has been changed life-changing because I was able to get a business checking account and with just three months of business checking account statements many people are able to get funding in their businesses name yes you can do this North One account all online use the link below to save money and then with just three months of business checking account statements you can get approved for business credit cards business lines of credit business loans and even business auto loans so get your North one business checking account today now that you have an established business you can easily go to the car dealership and start getting cars but before you go to a car dealership and start trying to buy a car in your business's name I strongly suggest you go to lenders that will approve you so that when you go to the car dealership you already have your financing in place I have an entire list of companies that will put cars in your business's name and you can get that list absolutely free at noelsfreegift.com things like Ally Capital One and even some local banks will put cars in your business's name and you can go to the dealership already with an approval so that you are not applying at the dealership for a car loan doing this will mean mean you can just negotiate the price of the car and you already know that you're approved so this will eliminate a lot of the stress there are lenders that specifically lend cars to businesses and some companies just do not you don't want to waste your time going to a car dealership finding the car that you like and then finding out that they don't have any lenders that will put the car in your business's name there are tons of companies that do this and I want to make sure that you know especially Tesla one of the things that I found out is Tesla makes it really easy to put a car in your business's name because when you buy a Tesla you do the entire thing online if you go to tesla.com you order your car and you even put how you want it registered and they help you with financing and they can help you get the car financed in your business's name again I made an entire video where I teach you all of this right here on YouTube and I'm going to put a link so you can watch that whole video on how I got this Tesla in my business's name but again it is very easy to do you just need to make sure that you have a real business that people can find online and that people can find when they look on the Secretary of State's website for the state that your business is in but use the link below to get your North one checking account use that link below because they have a flat monthly fee when you open up your business checking account with North One banking and if you use that link you can save money and you'll know exactly how much your monthly fee is every single month so some of the large traditional Banks make it really hard for new entrepreneurs to get a business checking account but that is not the case with North one they are designed just for startups entrepreneurs and people like you that do side hustles that want to turn those side hustles into million dollar businesses and get assets in their businesses name use that link below right now and open up your business checking account with North one today I just want to make sure that you have all of the resources all of the tools and all of the knowledge that you need to be successful this is Noelle to your success

Channel: Noelle Randall

Views: 34,121

Keywords: How To Buy A Car With Business Credit, business credit, build business credit, how to build business credit, how to buy a car in your business name, business auto loan, buy a car in business name, business credit cards, business credit cards for new business, credit card, company car tax deductions, how to build business credit fast, how to buy a car with my business, business credit card, how to get a business credit card, building business credit, business credit score

Id: tApH1vGoiws

Length: 10min 31sec (631 seconds)

Published: Mon Jun 26 2023