Company Car & SUV Financing. Drive Your Business.

Registering and insuring a company car under your business name provides better liability protection, as commercial policy limits are higher. It also separates personal and business assets, offers tax benefits, helps build the company’s credit history, and simplifies record-keeping and financial management. It makes a lot of sense for a successful company.

Commercial auto insurance policies generally offer higher coverage limits and better liability protection compared to personal auto policies. They are specifically designed to cover business vehicles and typically provide coverage for additional drivers, such as employees. Lower-limit personal auto policies may not adequately protect business assets in the event of an accident.

A business titled/insured vehicle allows for tax deductions on depreciation, vehicle maintenance, and operating expenses. It may also simplify vehicle resale or transfer, and reduce personal property tax liabilities. In addition, some jurisdictions offer incentives or tax credits for eco-friendly or electric business vehicles.

Financing a company car under a business name allows the company to expand credit history separate from its owners (which is important as a company grows). Similar to personal credit, financing in the company name and making timely payments builds the company’s credit. In short, it further brings a successful company into its own.

Registering a vehicle under a business name helps separate personal and business assets and makes it easier to track business-related mileage and expenses for tax purposes. This separation also simplifies record-keeping, as vehicle expenses are not mixed with personal finances.

Yes, you can transfer a vehicle registered under your personal name to your business. However, consult your local DMV to determine if it will be considered a “same owner transfer” or a new “sale,” as tax implications may vary. Some states may allow this transfer with minimal or no fees, while others may require you to pay taxes on the original full purchase price. Consult your DMV to determine if the transfer is worth the potential tax liability.

No, due to the unique risks and challenges associated with these transactions, banks and equipment finance companies avoid refinancing or sale-leasebacks of company cars. These challenges include high processing costs, time-consuming nature, diminished collateral value, credit risk, regulatory restrictions, and other factors that make it challenging for lenders to manage the risks involved.

This is a new one-of-a-kind Program offered by Crest Capital. No other lender we know of will even consider financing a corporate car or SUV in the business name without blanket liens or similar. As such, our regulators insisted we have strict requirements to launch this Program.

No, you are looking for our Trucks and Specialty Vehicles Financing page.