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Vehicle financing

Discussion in 'Business Operations' started by Duramax8832, Oct 6, 2006.

  1. Duramax8832

    Duramax8832 LawnSite Member
    Messages: 147

    Right now one of my trucks is registered to me personally and is not registered commercial. I would like to start using it for the business, the catch is Capital One Financing will not finance a comercial vehcle..What i need to know is, who will refinance a commercial vehicle?
     
  2. lawnMaster5000

    lawnMaster5000 LawnSite Senior Member
    Messages: 591

    See chapter 4 of this document.

    From what I understand your vehicle does not need to be licensed "Commercial" in order to use it for business.

    I know mine is not.

    http://www.irs.gov/pub/irs-pdf/p463.pdf



    Edit:
    If you are not licensed commercial then you dont have to have commercial financing. Dont tell Cap One what you use the truck for.
     

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