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Benefits of purchasing a vehicle in your company’s name:

1. Tax write offs: If you buy a car in a business name, then it is a business expense, so you are able to write a portion of it off in taxes. Other expenses you may be able to write off include mileage, fuel costs, and depreciation. Talk to your CPA for details.

2. Separating personal assets from business: If you’re ever involved in an accident in your business (when structured right), you could possibly relieve your personal assets from being sued.

3. Lowers your DTI (Debt to income ratio): a A business auto loan is for business. So the auto loan does not show up on your personal credit report unlike a consumer auto loan which keeps your DTI low. This is extremely helpful when you want to make personal purchases such as a new house, car, etc.

Remember or keep your personal credit looking pretty at all times while letting your business credit do all the dirty work since it doesn’t show up on your personal credit reports 💯

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