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- 1). Get some money upfront. Just like when buying a personal car, it's always good to have a down payment. It can decrease your payment size, as well as how long it will take you to pay off the vehicle.
- 2). Shop around. Don't buy the first vehicle you find. Look at dealer's websites and get an idea of what local dealers are offering. When you go to the dealership, know what you want and what the competition is offering.
- 3). Complete a commercial credit application. This will allow you to get a loan for the car using your business credit, not your personal credit.
- 4). Decide on a guarantor. The guarantor for your car loan works a lot like a co-signer, agreeing to make the payments if the business fails to. Many small business owners use themselves as the guarantor for their car loans.
- 5). Be prepared for your business credit and the guarantor's credit to be evaluated carefully by the lender. Once the credit of both is approved, you'll be able to buy the car for your small business.
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