Can I get an auto loan under my new business?
Jennifer B asked:
I have recently started a new business and would like to purchase an SUV for company usage. The business brings in a nice monthly revenue stream but it is new and thus has no credit history. I would like to put about 10-20% down and finance the rest. My personal credit is bad so it’s not likely that a personal guarantee would be worth much. Is it possible to get financing for this? I don’t mind paying a slightly higher interest rate.
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I have recently started a new business and would like to purchase an SUV for company usage. The business brings in a nice monthly revenue stream but it is new and thus has no credit history. I would like to put about 10-20% down and finance the rest. My personal credit is bad so it’s not likely that a personal guarantee would be worth much. Is it possible to get financing for this? I don’t mind paying a slightly higher interest rate.
July 21st, 2009 at 9:02 am
Do not fall for “kingston O” whatever you do! His post is totally unreliable.
Go to a reputable dealership and discuss this topic with their GM or your personal bank. Get good leadership from a reputable business.
You will likely have to have a decent down payment, and a co-signer.
July 22nd, 2009 at 9:51 pm
Jennifer B, Get a free online auto loan quote. The questionaire will let you know if you can be approved. It will only take a few minutes.
July 23rd, 2009 at 1:19 pm
Hi
my name is Mrs Shirley Murphy i am a mother of tree kids i live in united state of America. Two weeks back i was in search of who will lend me $85,000USD. i came across a lady called Mrs Jennifer Jefferson who directed me to a private lender Mr Peter White. first i thought it was a scam then i thought of given it a try after i have been scam twice before. As God is on my side. Mr Peter White, loan me the sum of $85,000USD i was very happy it was like a dream to me. so my dear i would want you to contact him now. tell him Mrs Shirley Murphy whom he help with a loan two weeks a go directed you here is his e-mail:
I would advice you to comply with him because there are some process which you would fellow before you can get the loan…
GOOD LUCK TO YOU
July 24th, 2009 at 3:37 am
You would have to give a personal guarantee. Eighty percent of small businesses fail within the first two years, so they aren’t likely to take those odds. Building a business on credit is a sure-fire way to join that 80% club, too, by the way.
A site I’ve used to compare quotes in the past …
All the best to you.
July 26th, 2009 at 7:07 pm
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