4.9% APR for business auto or go personal 1.99% apr?

[Anonymous]

Both are approved.  Id only want the business loan to get more meat on my reports.  Do I sacrifice and pay it or just go personal loan w the lower rate?

Whats a good business auto loan apr? I have zero previous experience to base my info off of.

The personal is from NFCU already approved

Thanks guys

[jaxstraw]

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@Anonymous wrote:

Both are approved.  Id only want the business loan to get more meat on my reports.  Do I sacrifice and pay it or just go personal loan w the lower rate?

Whats a good business auto loan apr? I have zero previous experience to base my info off of.

The personal is from NFCU already approved

Thanks guys

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On a $25k loan that's over $2k in interest on a 5 yr loan.....and that just extrapolatea out if the vehicle price is more.

Not a chance I'd pay that just to build biz credit.

[bizcredit11]

@Anonymous is the 4.9% No PG? Who is it with?

bizcredit11

[Anonymous]

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@bizcredit11 wrote:

@Anonymous is the 4.9% No PG? Who is it with?

bizcredit11

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TD Bank no pg

[Anonymous]

Do have a relationship with TD Bank? That seems kind of low for an unsecured Loan. Or is it an actual Biz Auto Loan? Although it seems high to me, I'm not that familiar with Business Loans. It would  be a tough call for me, but I might do the same simply to build Biz credit and keep it off my reports. But I's be really tempted on that 1.99%!   I recently saw an offer for 0.9% with KIA Auto and that was darn tempting.

Good Luck with whatver you choose!

[SouthJamaica]

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@Anonymous wrote:

Both are approved.  Id only want the business loan to get more meat on my reports.  Do I sacrifice and pay it or just go personal loan w the lower rate?

Whats a good business auto loan apr? I have zero previous experience to base my info off of.

The personal is from NFCU already approved

Thanks guys

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Be careful with TD Bank. Their business credit cards report to your personal credit.

[Anonymous]

Assuming we're talking about an auto loan. The only way you got a 4.99 with no PG on a business auto loan is because the business already has very good credit. I deal with people with 850 scores who PG for their businesses and still get declined because of the risk associated with business's in general. If you don't mind paying a little extra it is best to do business loan in my opinion makes it easier for write offs and business auto insurance issues that might arise. Also keeps it off your report   Make sure they're not using you as PG because some dealers might not tell you that. Bank of America for example currently does not report to a PG's credit bureaus as long as "business use" is checked off on the LAW contract (retail installment contract)

[Rgudino1717]

Got a business loan with Ford almost a year ago. For an f450. 2.9% interest no PG. Overheard that it was tier 1. Nothing too special on our business credit report tbh. Some credit cards, att, uline, etc. Business was 3 years old, I've heard that matters sometimes.