Vehicle leasing

[razpropertiesllc]

Anyone have any information on leasing vehicles. What is the process? who leases without PG? any information would be helpful.

[direct]

GMAC,FMC they require you been in business at least two years,with a landline phone number,business address and  a paydex score of 85 plus.

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Paydex of 85 plus??? That's like those ads saying you qualify for a 0% 60 month loan as long as you have an 800 credit score. I've never seen a score higher than 80 on paydex.

Edited March 4, 2005 by direct

[direct]

Our business paydex score is 90.In business sinse 1980,In duns database sinse 1980,A corp sinse 1980,Same address sinse 1980.With over 20 tradelines with credit of 2M plus.We did not do this over night.It took five years of hard work.

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That's impressive! Paydex 90= 20 days sooner than terms

 

I just wonder how many businesses applying for auto leases pay before their bills before they are actually due, let alone the businesses that pay just a few days late.

Edited March 4, 2005 by direct

[razpropertiesllc]

My paydex score is 80 I have been in business for about 3 years. Do you know of someone who will approve me on those terms

[akaimushi]

Our business paydex score is 90.In business sinse 1980,In duns database sinse 1980,A corp sinse 1980,Same address sinse 1980.With over 20 tradelines with credit of 2M plus.We did not do this over night.It took five years of hard work.

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You must get 2% net 10 terms. I love those net 30 accounts. Which accounts give you terms like that. I would love some Discounts on my purchases.

[ceowens]

GMAC,FMC they require you been in business at least two years,with a landline phone number,business address and  a paydex score of 85 plus.

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FMC does not require paydex of 85 plus. I got them with paydex of 79 on a #45,000 vehicle.

[Guest ldeazy]

Cant you just buy a car DBA with your sole proprietorship?

 

Will that still be on your credit score?

[Hope]

Anybody got a link, phone#, or contact for a commercial credit app for GMAC???

[newkid]

suggestion-I tried to buy a vehicle in CA without pg thru ford and dodge and it didn't happen. I called a dealership in arizona (internet dept./fleet) asked them to review my copy of my dnb to see if they could do something for me(not run it). I got a 2005 durango delivered to my front door in january. I was supposed to put down 3k but rebates at the time erased most of it. My start date is 1991 and my highest acct. on dnb 40k PX80. Also when I went to a dealer locally to see a similiar vehicle I was to be buying, the salesman said he had never heard of crysler fin. doing a loan without pg. And they could only ship the hemi because of emission issues. So try and make some calls and pre-qualify yourself . Usually they can tell by looking at a copy of your report if they can do anything, esp. fleet. And ford dealers will know you are shopping as well as gmac etc..So find a dealer you can work with.Hope this helps

Edited March 8, 2005 by newkid

[newkid]

having it by the horns won't do you much good you got to be on top of it to enjoy the ride. To clarify the idea of not running the report , I suggested this because when I applied to two different Ford dealerships, the 2nd knew about the first. 10-4

[newkid]

yes they must use the same data base because she knew the other dealerships name and a lot of other details.

[Hope]

Just came back from the Hummer dealership. Test drove a 2005 H2. Told the guy we would only be interested if we could lease this in corporate name only, with no PG. He said that would be hard, because we'd need to show:

 

1) 2 years audited financials

2) Proof of a history of corporate auto loans or mortgages with no PG

3) yada, yada

 

He said "we" (meaning him and his cohorts, I guess) just found out about 6 months ago about a program where the title would show in the corporate name and the lease or loan would would not be reported on the personal CR's, but a PG would be required.

 

I am skeptical. I asked him, "but when the lease is up in 2 years and we want to lease another in the corporate name, GMAC has effectively taken away our ability to show non PG on a corporate auto loan by requiring PG on this one. It's self-perpetuating."

 

He shrugged. I'm not sure if he didn't know what he was talking about or if he was shining us on. (I hate dealing with car dealerships!!! Sorry MarvBear.)

 

We talked about the a SmartLease...my preference...but he kept trying to push the SmartBuy with a balloon last payment, saying the payments were lower. But by all my calculations, that's bull. Another reason why I don't trust this.

 

And most importantly, I DO NOT want to share audited financials with a car dealership. Even our construction lenders don't ask for that and they loan us millions. Granted real estate appreciates and we do give PG, while auto depreciate, but what's up with this?

 

How we left it: told him we'd have to discuss this with our CPA (True) and also that we're thinking of Ford Motor Credit (King Ranch F150) and had been told that FMC was a much smoother process for corporate purchasing if not leasing as well (true again, thanks to CB).

 

What do you think?? There is only 1 Hummer dealership in town. Should I be thinking of branching out of town or out of the state???

[ceowens]

Hmmmmmmmm...just ran into a similar situation w / GMAC on a landscape truck. GMAC wouldn't do no PG for us either. We ended up going w/ Chrysler (which may not be an option on the Hummer.) However, GMAC DID give us the same crap about "being a personal guarantor" (as opposed to a co-signer) and that it would NOT show on personal credit reports that way. Apparently, if you sign as co-signor, it WILL report. There is some minute difference between the two. I didn't trust it either..and went with Chrysler instead. It did kinda lemonade me off though to be able to buy a $45,000 SUV with No PG, and then be turned down for a stupid $15,000 landscape truck. I would branch out in my quest for a Hummer. Don't stop at that one dealership. Sounds like they just want you in the car and don't give a crap. And, the King Ranch is a sweet truck too. My DH has his eye on one. Ford WILL be good to you if you get the right saleman.

[newkid]

I wanted to add that there is a company in la (amazon Leasing) also leases to businesses and does need to run credit of person , doesn't have to be good. It may be worth a call. When I called them a while back the man I spoke to also mentioned you can add a vehicle in your name to your business credit. Just a thought . I have never done it but this is the company that said they can.

[newkid]

Would anyone like the # and name of the dealership I used to buy a dodge durango thru our business? The dealership I went thru was great and as I mentioned before delivered the car to my home. It is in Arizona and I called with the intention of buying a truck but changed it to a durango. My suggestion is to do what you have to do to buy your 1st vehicle in the bus. name(even if it's a cheapie vehicle) because once you are established with your 1st car you can go anywhere in6-12months and buy a nicer vehicle.I actually wanted aan excursion since I pull a boat but I am ecstatic with the vehicle I got.

[teksafe]

Would anyone like the # and name of the dealership I used to buy a dodge durango thru our business? The dealership I went thru was great and as I mentioned before delivered the car to my home. It is in Arizona and I called with the intention of buying a truck but changed it to a durango. My suggestion is to do what you have to do to buy your 1st vehicle in the bus. name(even if it's a cheapie vehicle) because once you are established with your 1st car you can go anywhere in6-12months and buy a nicer vehicle.I actually wanted aan excursion since I pull a boat but I am ecstatic with the vehicle I got.

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Good job on the auto purchase. We've been in bize for over two years and have a paydex of 80, all verifiable. Please let us know the dealer name in Arizona.

[newkid]

Daid Hecht(fleet manager) His specialty is trucks but you can ask him about other vehicles. As I suggested earlier , fax him over a copy of your dnb to see if he can help you 1st #480.496-4000 fax 480.598-2382 He is a great guy to work with so please be good to him. Also I mentioned I was part of a corporate forum that shared business information with each other. Just tell em johnny refered him to you.

[SandBag]

Thanks for the info..I tried that AZ fax number and its not working. Let me know if there's just a type error or if I can try another fax number. Thanks!

[newkid]

i think i typed it wrong 4805982882 hopefully that is it

[SandBag]

Just FYI..the land line and FAX both are not working for that contact.

[newkid]

the 800# is 18007836343 let me know what happened to 480 # ok?

[SandBag]

Hi NewKid...thanks. I will try that number tmrw or Monday. About the other leasing company checkin my personal EQ...I dont know why they checked my personal since I did not give them permission...but..I do know they can get the information someway or another. It is an inquiry that I will dispute...thats for sure. I will also be calling the company that did it. Remind them about 'permissable purpose'!

[newkid]

I think that # was one of many #'s Found another 4804964000.And sorry to hear that they were able to get your info like that. I know they didn't check mine. I usually leave out an initial or something to play it safe. I will post something monday tahnx sandbag for the info...

[sanch03]

Sandbag how did this end up? Were you able to get the vehicle?

 

I went and talked with Ford and apparently they can do it. I had my eye on a F-150 King Ranch as it looks sharp (didn't quite care for the smell of the interior though) but I think I like the Dodge 1500's better.

 

Has anyone had good luck with Dodge other than the original poster?

 

Is it possible for me to buy the vehicle from the same dealer and have it shipped to Florida?

[UDC]

I tried to lease a Volvo XC-90 from one of the "Super Flexible Auto Leasing" outfits, and they looked at my personal credit of < 650 and tried to talk me into a < $20,00.00 car. However, I had a Paydex of 80 at the time, and I simply went to another dealership where I was approved on the spot via the company credit, even though they required me as a PG. I got a great rate, and it was a very smooth process. I just faxed over my P&L and a copy of my D&B for their convenience, the paperwork took less than an hour.

 

180-degrees from the personal credit experience.

 

I am going to try the same in a few weeks to see if I can get another auto as well the same way.