Turo Start Guide: How to Purchase Cars in Your Business Name
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I recently purchased TWO cars in my business name... within a week apart to start my car rental business on Turo. Now I am generating additional passive income for myself.
This guides walks you through the exact steps, so you can do the same
- What to consider before starting the process (what makes an ideal loan applicant)
- Application requirements (plus what to/not to put on your application)
- Preferred Lenders & "Hacks" to increase approval
Whether you are looking to purchase just one vehicle or a fleet of cars, this guide will help you through every step of the way.
Pros in purchasing a vehicle through your business, instead of in your personal name:
- Reduces personal legal and financial liability (debt is not generated on personal credit report)
- Various tax benefits/write off options (cost of the vehicle, vehicle expenses, depreciation, maintenance, etc), saving your business more money.
- Better financing options. again, saving you more money!!