topic Re: Business auto loan recommendations? in Business Credit

Business auto loan recommendations?

Debt-is-a-Scam — Thu, 18 Dec 2025 19:44:24 GMT

Hello, everyone. So I am considering purchasing a used work van and would like some advice on how to finance it using business credit.

The van I want is a 2017, costs about $15,000, and has 216k miles. My trade in would be an old A to B van with 376k miles on it that I hardly ever use. It's probably worth a good 5k.

I currently have business accounts with Amex, Chase, U.S. Bank, and my local credit union. I am pre approved with an Amex Business Line of Credit of $15,600, but I'm confused on how the interest rate works. U.S. Bank offers such loans at a 7.99% interest rate. Chase interest rate seems confusing as hell, and my credit union requires an application before providing any information. But my credit union does offer personal auto loans at a mere 4.99% interest rate. Also looked into BofA and the van I want is not within their required specs. Thinking I'd be able to pay off the loan in a good year or 2.

Any ideas and/or advice would be helpful.

Thanks!

Re: Business auto loan recommendations?

cashorcharge — Fri, 19 Dec 2025 22:45:47 GMT

I have to admit, buying a used van with that many miles on it has me paused and most auto loans, busness or not would not finance a vehicle with that many miles on it...so your approach of a loan in general to pay for the van, may be your best bet.

Doing it personally WOULD warrant a much lower APR but then again....getting an auto loan approval on somethis with that many miles will be difficult.

I would focus on just an ordinary business loan with the best rate....if US Bank is it....go for it. Heck, you may even be able to get a US Bank credit card and with a Balance Transfer check, get the van with 0% APR for 12 months...US Bank does a lot of Balance Transfer Offers.

Sticking to just the auto loan route will be difficult in my opinion

Re: Business auto loan recommendations?

Dcowboy08 — Fri, 19 Dec 2025 22:57:42 GMT

@cashorcharge wrote:
I have to admit, buying a used van with that many miles on it has me paused and most auto loans, busness or not would not finance a vehicle with that many miles on it...so your approach of a loan in general to pay for the van, may be your best bet.

Doing it personally WOULD warrant a much lower APR but then again....getting an auto loan approval on somethis with that many miles will be difficult.

I would focus on just an ordinary business loan with the best rate....if US Bank is it....go for it. Heck, you may even be able to get a US Bank credit card and with a Balance Transfer check, get the van with 0% APR for 12 months...US Bank does a lot of Balance Transfer Offers.

Sticking to just the auto loan route will be difficult in my opinion

I agree. I have bought several brand new trucks this year and that was hard enough. I can't imagine using business credit for what you are trying to accomplish. While it won't build your business credit, go personal and just track mileage, etc, for business tax reporting.

Re: Business auto loan recommendations?

Debt-is-a-Scam — Sat, 20 Dec 2025 08:16:46 GMT

@cashorcharge wrote:
I have to admit, buying a used van with that many miles on it has me paused and most auto loans, busness or not would not finance a vehicle with that many miles on it...so your approach of a loan in general to pay for the van, may be your best bet.

Doing it personally WOULD warrant a much lower APR but then again....getting an auto loan approval on somethis with that many miles will be difficult.

I would focus on just an ordinary business loan with the best rate....if US Bank is it....go for it. Heck, you may even be able to get a US Bank credit card and with a Balance Transfer check, get the van with 0% APR for 12 months...US Bank does a lot of Balance Transfer Offers.

Sticking to just the auto loan route will be difficult in my opinion

On 2nd thought, I actually agree that this particular vehicle probably does have too many miles so now I'm shopping around for something newer.

Getting a 0% interest BT card for this does seem intriguing too. Haha

Re: Business auto loan recommendations?

cashorcharge — Tue, 23 Dec 2025 20:00:38 GMT

@Debt-is-a-Scam wrote:
@cashorcharge wrote:
I have to admit, buying a used van with that many miles on it has me paused and most auto loans, busness or not would not finance a vehicle with that many miles on it...so your approach of a loan in general to pay for the van, may be your best bet.

Doing it personally WOULD warrant a much lower APR but then again....getting an auto loan approval on somethis with that many miles will be difficult.

I would focus on just an ordinary business loan with the best rate....if US Bank is it....go for it. Heck, you may even be able to get a US Bank credit card and with a Balance Transfer check, get the van with 0% APR for 12 months...US Bank does a lot of Balance Transfer Offers.

Sticking to just the auto loan route will be difficult in my opinion
On 2nd thought, I actually agree that this particular vehicle probably does have too many miles so now I'm shopping around for something newer.

Getting a 0% interest BT card for this does seem intriguing too. Haha

Good choice...