She and I are stumped on how to do this so her company gets the tax write off for buying the car for business purposes, rather than having it appear that she's buying the car for personal use. Should she simply write a company check for the payoff amount, made out to the finance company and then once the car is paid for, I simply sign the title over to her company?
2007-01-10 12:59:41 · 3 answers · asked by YAH IS GOD 2 in Cars & Transportation ➔ Buying & Selling
The company should write a check directly to the leinholder while you simultaneously fill out the paperwork and notify them of the pending sale. The title will come to you. It is either that or go to a local branch of that leinholder and do it all at once is there is a local one.
2007-01-10 13:05:27 · answer #1 · answered by kpotter47 3 · 1⤊ 1⤋
send the finance company the check for the total payoff amount, then the finace company will send you the title and you can sign it over to you friend.
2007-01-10 21:36:03 · answer #2 · answered by vw tech 3 · 0⤊ 0⤋
Mail the check with the payment slip and within a month you should get the title in the mail. Then you sign over the title to her company.
2007-01-10 21:29:10 · answer #3 · answered by Anonymous · 0⤊ 1⤋