Guide to Buying a Vehicle for a Small Business

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What is a Commercial Auto Loan?
How Do Business Auto Loans Work?
Business Auto Loan Amounts
Term Length
Repayment Structure
Commercial Truck Loans
6 Steps to Getting a Commercial Auto Loan
1. Figure Out Your Budget
2. Review Your Credit
3. Find the Right Vehicle
4. Compare Offers
5. Apply With a Lender
6. Sign!
Commercial Auto Loans with Bad Credit
Commercial Auto Loans Without a Personal Guarantee
Business Auto Loan Borrower Requirements
Business Auto Loans vs Personal Auto Loans
Business Auto Loans vs Equipment Financing
Buying vs. Leasing
Banks That Offer Small Business Auto Loans
Bank of America
Ally
Capital One
PNC
Wells Fargo
Other Lenders that Offer Business Auto Loans
Crest Capital
National Funding
Balboa Capital
Currency Finance
CIT
Is Refinancing Commercial Auto Loans Possible?
Small Business Auto Loan Alternatives
The Takeaway
Frequently Asked Questions
LCSB0622019
About the Author
Su Guillory is a freelance business writer and expat coach. She’s written several business books and has been published on sites including Forbes, AllBusiness, and SoFi. She writes about business and personal credit, financial strategies, loans, and credit cards.
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