One of the reasons my last post was about partial business-use vehicles is we (as in Crest Capital) have dipped our toes into this area. In late 2023, we quietly launched a new program to finance business-use vehicles and SUV’s in the company name. This may not seem like a big deal on paper, but in the real… Read More »
Let’s talk about partial business-use vehicles for a moment or three. Because we get asked about this a lot. Most of the questions are tax-related, and we can’t give official tax advice. But there are tax deductions for partial business-use vehicles, and most of them follow the same rules, which I’ll outline here. The big rule is how… Read More »
In my last post I mentioned business vehicles and insurance, and that you really need a commercial business vehicle policy. And to me, there’s no negotiation on that – doing business without it is way too risky. But just “why” do you need a commercial auto policy for a business vehicle? Here are a few reasons: There are… Read More »
I was talking with an old friend the other day who has a successful landscaping company. And the subject of business vehicle insurance came up, and how he almost learned the hard way how important it is. Let’s back up about 15 years – my buddy decided to start a landscaping business, and like many others, basically went… Read More »
I was asked by a friend about equipment financing and collateral and such, and he remarked “well, your loan is secured by the equipment, right?” And I answered “sometimes”. Which then prompted an explanation (I’m a great conversationalist at the party, aren’t I?) It is true that equipment financing can be similar to automobile financing in terms of… Read More »