E-2 and Business Vehicle Leasing
#1
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Joined: Jan 2013
Posts: 73
E-2 and Business Vehicle Leasing
Dear all, can anyone recommend a company / companies in Florida that would consider a business vehicle lease to an E-2 business / holder? Rather than buy two cars when we move over, i would prefer to lease through the business (and therefore pass off the cost). Many thanks.
#2
Re: E-2 and Business Vehicle Leasing
Dear all, can anyone recommend a company / companies in Florida that would consider a business vehicle lease to an E-2 business / holder? Rather than buy two cars when we move over, i would prefer to lease through the business (and therefore pass off the cost). Many thanks.
It is unlikely that any lender will lend money to a startup company without someone personally signing for the loan. However if it is a legitimate expense, it doesn't matter if the expense is billed directly against the company or against an individual.
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Last edited by Michael; Aug 27th 2014 at 11:03 pm.
#3
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Re: E-2 and Business Vehicle Leasing
Thanks Michael.
We are looking at buying a business which has been established for 7 years, and the current owner has taken the very strange route (to me anyway) of using the business for two car loans, buying them outright and then paying the loans through the business.
I would be looking at a more traditional business lease arrangement, and wouldn't be worried about the tax implications.
Cheers,
We are looking at buying a business which has been established for 7 years, and the current owner has taken the very strange route (to me anyway) of using the business for two car loans, buying them outright and then paying the loans through the business.
I would be looking at a more traditional business lease arrangement, and wouldn't be worried about the tax implications.
Cheers,
#4
Re: E-2 and Business Vehicle Leasing
Thanks Michael.
We are looking at buying a business which has been established for 7 years, and the current owner has taken the very strange route (to me anyway) of using the business for two car loans, buying them outright and then paying the loans through the business.
I would be looking at a more traditional business lease arrangement, and wouldn't be worried about the tax implications. ....
We are looking at buying a business which has been established for 7 years, and the current owner has taken the very strange route (to me anyway) of using the business for two car loans, buying them outright and then paying the loans through the business.
I would be looking at a more traditional business lease arrangement, and wouldn't be worried about the tax implications. ....
That said I am not sure why you'd want to structure the leases through the business if it isn't for a tax benefit (which, as advised by Michael, doesn't actually exist anyway ).
#5
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Re: E-2 and Business Vehicle Leasing
Thanks Pulaski, always value your help and opinion.
It's really due to capital outlay. My thought is that if i can save $30k in the bank (at the start), rather than spend it on two cars, and have it there for a rainy day, whilst suffering slightly on the taxation (but have the business pickup the monthly 'cost'), then that's my preference.
But i guess the other option is to put 50% down on each car, and try to get personal financing?
Would help with credit rating too i guess.
Thanks again.
It's really due to capital outlay. My thought is that if i can save $30k in the bank (at the start), rather than spend it on two cars, and have it there for a rainy day, whilst suffering slightly on the taxation (but have the business pickup the monthly 'cost'), then that's my preference.
But i guess the other option is to put 50% down on each car, and try to get personal financing?
Would help with credit rating too i guess.
Thanks again.
#6
Re: E-2 and Business Vehicle Leasing
Even though the business is 7 years old, I suspect he is signing personally for the lease since it is very easy to bankrupt a business in the US. When my son had his business, the only contracts signed against the business were for phones, internet connection, and rent for the office space but the office space was in an undesirable area with plenty of office space available.
Last edited by Michael; Aug 27th 2014 at 11:33 pm.
#7
Re: E-2 and Business Vehicle Leasing
You do realise that you can lease vehicles as an individual, don't you?