I have been told that I would have to guarantee an auto loan if I bought a new vehicle under my LLC. Will the debt go against me personally if I am the guarantor? I am in need of a truck as I now own multiple properties and manage them but I do not want to acquire more debt and negatively impact my DTI. Can anyone share any creative ways to do this? Appreciate your help!
I've been selling cards for just over 30 years. Every situation will be different. It will vary bank to bank and customer to customer. I sell plenty of LLC's that obtain financing with no PG but these are typically well established companies with very strong balance sheets. With my banks that require a PG some report the debt under the guarantors name, some don't. Obviously the banks that are the most lenient also typically have the highest rates.
i actually heard Ford is extremely business friendly with doing car loans and leases. Most of the other car companies I hear ask for many other things to make the transaction happen.