Hi,
Looking to lease an Audi or BMW through my company and I believe certain makes like Volvo cannot be done through company and would need an actual person to sign on it. Is that the case with Audi & BMW?
Bmw will probably make you co sign
This depends. If your company is legitimite and have real assets, then they would lease to the company. If it is a self-employed, one-man shop then they would ask for a personal guarantor.
What is your objective for leasing under SMB?
- for tax deduction purposes?
- to avoid from showing up on credit reporting (CR)?
Even if captive accepts business lease, devil will still be in details…
as a SBO, I did biz lease with Lexus, hoping to avoid from showing up on my CR to keep dti ratio low. LFS required me to co-sign the lease, but it still ended up on CR and revised my main employer to my company CR. Additionally, I was hit with personal property tax bill from Lexus.
If your goal is tax write off, I would suggest talking to tax guy first. In my case it didn’t matter since its single owner LLC and ends up on my personal tax return schedule C.
If your aim is same as was mine, then it must be only on business name with you being personal grantor (not co signer). I still don’t know which captive (besides Ford) offers such lease support.
I’d love to hear from finance manager if they can chime in OP request.
Every lease needs a guarantor, which will be the person driving the car. Both BMW and Audi require this.
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Company offers me a car with job and I would rather it get done straight through them rather then giving me an allowance to lease a car myself
I have had an Infiniti leased through company that I did not sign on.
I agree with wam22. Someone from your company may have signed PG.
@wam22, I have seen few datapoints indicating FMCC (Ford Motor Credit Corp) underwrites wo PG for established business (guessing D&B etc).
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Has this company leased cars before? Do they already have commercial auto insurance? How long have they been in business? Depending on type of business, age, the stips might differ.
If they meet the criteria for commercial leasing, sure. If you find a car at a dealer you want, ask them what their criteria is for commercial leases.
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Yes, It is a large company and many cars have been leased through them. Was just unclear about those two specific makes. Thank you
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Does Audi or Mercedes show up on your personal credit report if you put it on a business name with a pg? I know bmw it doesn’t show even with a Personal Guarantor