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Take it easy:
find the best deals in business vehicle financing
NEGATIVE EQUITY could be adversely affecting your
business. Kelley Blue Book's market research shows buyers
who financed with little or no money down and for a six-
or seven-year term find they owe more than the vehicles
are worth, piling on debt.
Researching financing options is a snap if you know
how to navigate the internet, and shopping around and
arming yourself with information before you visit the
dealership can save you percentage points in the long
run.
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Find out if you qualify for your own bank or union
loan, and know your credit score so you're prepared
for high financing rates if your score is low.
Some business owners use credit cards for down payments
on vehicles. OPEN from American Express provides its
Platinum Business FreedomPass card users with a credit
line up to $50,000 and no annual fee. If your employees
use the cards for purchases such as fuel, repairs and
other business items, you earn points.
Fleet and commercial customers at GM have an edge with
a Business Choice card that offers incentives, promotions
and credit, including 3 percent off GM vehicles. Targeted
at small businesses that buy or lease vehicles, Chase
Business Card offers more benefits, including an expense-management
tool that has spending limits for employees
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