Company Car & SUV Financing. Drive Your Business.

Welcome to Crest Capital's innovative and exclusive program for financing business-use corporate cars and SUVs, designed to meet the unique needs of small businesses!

For years, we've listened to small business owners express their frustration with the banking and finance industry's lack of a dedicated program to finance company cars and SUVs in the business' name. It's almost impossible, with no lender willing to work with small businesses on this issue.

But that changes now. Crest Capital's new one-of-a-kind Program fills this void in the market by offering a straightforward and practical solution for this very real business need.

  • Who This Program Is For : Exclusively for our existing good-standing customers and select well-qualified new customers who meet the elevated qualification criteria.
  • What This Program Is : Financing of business-use corporate cars and SUVs in your company name (at least 50% business use).
  • Why This Matters : For businesses that meet the elevated credit requirements, financing a corporate car or SUV in the company name can be a game-changer.

Minimum Program Qualifications

To launch this new Program, we had to raise its qualifications significantly. The following are the minimum criteria required to participate in this exclusive Program:

•   Business Eligibility : The company must have been both operating in business and registered with its Secretary of State for a minimum of five years, and all owners with 20% or more ownership must meet specific criteria, including a FICO score of 700+ and own a home.

•   Borrowing History : For vehicles with a price over $75,000, a comparable past borrowing reference of at least 50% of the vehicle cost is required.

•   Insurance and Vehicle Titling : Insurance coverage must be a commercial policy in the business name, and the vehicle must be titled in the business name (Crest Capital can help you with this.)

•   Vehicle Eligibility : The Program can be used for new or used vehicles up to three years old with a maximum of 125,000 miles and a maximum value of $150,000.

•   Loan Term : 36-60 months with unlimited mileage restrictions.

•   Industry Restrictions : Professionals who routinely transport customers (e.g., real estate agents, Uber, Lyft, taxi drivers, and similar service providers) as well as a few other higher-risk industries are not eligible for this program.

If you meet the above minimum criteria, we invite you to see if you qualify for this exclusive new Program for financing business-use corporate cars and SUVs in your company name. Click or tap the button below.

Check Your Eligibility for Corporate Car & SUV Financing

Note: We encourage business owners who do not meet the current stringent criteria to consider applying when the program's minimum qualifications are updated for increased flexibility.

Advantages of Financing Company Cars and SUVs in the Business Name

There are several key benefits to financing a car or SUV in your business name.
Illustration Highlighting Benefit of Separating Business and Personal Assets Through Corporate Car & SUV Financing  Separate business and personal assets for better financial management.
Illustration Emphasizing Protection of Assets from Liability Through Corporate Car & SUV Financing  Protect personal assets from business liability, and vice versa.
Illustration Showing Tax Advantages and Deductions Through Corporate Car & SUV Financing  Benefit from tax advantages, like Section 179 and operating expense deductions.
Illustration Demonstrating Streamlining of Accounting and Financial Processes Through Corporate Car & SUV Financing  Streamline accounting and financial processes.
Illustration Depicting Establishment and Building of Credit Independently Through Corporate Car & SUV Financing  Establish and build credit independently from the company's owners.
Illustration Highlighting Better Insurance Coverage Through Commercial Policies with Corporate Car & SUV Financing  Obtain better insurance coverage with higher limits through commercial policies.
Illustration Showing Simplification of Employee Vehicle Usage and Insurance Coverage Through Corporate Car & SUV Financing  Simplify employee vehicle usage and insurance coverage.

As a company grows and becomes more established, having company-financed and titled vehicles is a natural progression. And now your successful company can take advantage of this very attractive benefit.

Check Your Eligibility for Corporate Car & SUV Financing

Frequently Asked Questions

What are the main advantages of registering and insuring a company car under a business name instead of an individual's name?

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.

What are the differences between commercial auto insurance policies and personal auto policies, and how do they affect coverage for company cars?

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.

What tax benefits are available for company-titled cars?

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.

How does financing a company car under a business name help build the company's credit history?

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.

How does registering a vehicle under a business name simplify record-keeping and financial management?

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.

Can I transfer a vehicle registered under my personal name to my business, and what are the tax implications of doing so?

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.

Do banks and equipment finance companies consider refinancing or sale-leasebacks of company cars?

Do banks and equipment finance companies consider refinancing or sale-leasebacks of company cars? 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.

Why are the credit requirements higher for this new Program?

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.

I want to finance a 100% work-use truck or a specialty work vehicle. Is that what this Program is?

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