Episode Details

Part 2 of our car financing Q&A. Hector, finance manager at Payne Edinburg CDJR, and General Manager Adrian Gonzalez answer business owners' questions:

> - Buying a vehicle in your business name vs. your personal name.

> - Section 179 and the 6,000-lb rule.

> - How a personal guarantee works.

> - Whether a business auto loan builds business credit.

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> Plus why good-credit customers still miss out on deals, checking your insurance before you buy, total cost of ownership, and what to know before you walk into the finance office.

>

> Missed Part 1? Listen to "How to Buy a Car With Bad Credit".

> Watch the full episode on YouTube: @adrianthecarguy1

> Follow Adrian The Car Guy: @adrianthecarguy

>

> 00:00 Welcome back to The Smoke Break

> 01:54 Good credit and still missing out?

> 03:43 Section 179: the 6,000-lb rule

> 05:32 Check your insurance before you buy

> 06:22 Total cost of ownership

> 07:18 Business name or personal name?

> 10:32 How business owners buy a vehicle

> 11:45 Does a business loan build credit?

> 14:08 Selling the car vs. getting it funded

> 15:09 What frustrates a finance manager

> 15:46 Before the finance office

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> We're a finance manager and a general manager, not CPAs. This episode is general information, not tax, legal or financial advice. Section 179 and depreciation depend on the vehicle's GVWR, business use and current IRS limits, so check with your CPA. As a personal guarantor, you're still responsible if the business can't pay.