Entirely possible. Really just a matter of getting a bank to give the business a loan. If you are willing to sign personally the banks usually don’t care about the business financials - they have you and the title to fall back on. If you want to have it in the business without personally signing it they are going to ask for a lot more information.
As others have mentioned - S, C, LLC makes a big difference regarding the advantages / disadvantages. Also of interest - unless the truck is a late model you can usually make money (personally) by turning in your business mileage and reimbursing yourself $0.58/mile for business use. Again your tax status matters as does your state tax rules. Mark > On Sep 27, 2019, at 8:06 PM, Sterling Jacobson <[email protected]> wrote: > > I have a personal F150 truck that I want to refinance into my company. > > Is that possible? > > I carry the loan through a local credit union. > > But I would like to start having some asset tangible on the company account. > > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com
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