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Can a lease purchase be utilized to establish business credit?
Discussion in 'Lease Purchase Trucking Forum' started by MOEcAAsh trucker, Feb 1, 2021.
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I don't know of any lease purchase that reports to any credit agencies.
Farmtractor9900 Thanks this. -
Jarhed1964 Thanks this.
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Yep. I got a NAPA auto parts account in my business name to buy my filters. Helps the business credit.
Jarhed1964, Robert gilley and visionarygvp Thank this. -
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There are several things you need for true business credit.Nobody here is given you true information.Buying filters at a store or fuel what there doing is using a credit card which probably has there business name on it but there personal information is tied to it.To get true business credit (1) Your business has to have an address that can receive delivery’s that’s not your home.(2) A place your business can be researched like a web address.(3)A business phone that 411 has information on.These are just the first 3 you also need a structured business president or co safety manager more then just one person making al decisions they look at.A lease purchase driver will never get true business credit your name will always be linked to any loans you get.
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The smart thing is just to Google "how to establish business credit."
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Why do you want business credit ???
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I decided to continue working as a company driver to keep saving my money to purchase a truck vs. leasing one. Although it could have possibly assisted in building my business credit, it just wasn’t financially conducive to what I’m attempting to do.
Eventually I want to purchase my own truck but lease it to a carrier and run for them as a O/O.
With that said, my question is this. Can I establish business credit by getting things in my LLC name and then use my LLC name to purchase my truck when the time comes?Jarhed1964 Thanks this. -
Last edited: Feb 18, 2021
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