Business Credit (Lines Of Credit ) Fleet Auto Loans

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  • Опубліковано 8 сер 2021
  • Credit is extremely Important for your Automotive Business ( Dealerships Rental Car Companies , Auto Repair. Auto Body & Car Flipping
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КОМЕНТАРІ • 123

  • @deshawnmoon35
    @deshawnmoon35 10 місяців тому

    All this wonderful advice!
    Thank you!

  • @123sly1
    @123sly1 2 роки тому +6

    Great video, you're absolutely right you have to build your personal Credit First to get business credit

  • @pierremira
    @pierremira 2 роки тому +3

    I like how you honestly explained things!

  • @rohknr
    @rohknr 2 роки тому +6

    This video ! I cant explain.
    So much informations brother! Thank you

  • @Mrhandyhitman
    @Mrhandyhitman 2 роки тому +4

    Hell yea! Looking into this right now for a different business

  • @dealsandcars
    @dealsandcars 2 роки тому +3

    Great info !!.. I’m totally agree.. personal credit is a King 👑 not cash 💵!!

  • @maximilianhartmann2211
    @maximilianhartmann2211 Рік тому

    Thank you for the information on the “Authorized Users” part. Have never hear anyone say this before + very helpful for being an international student from Germany starting out in the real estate/ car rental business. Love the videos and your explanations!

  • @stilliraise9201
    @stilliraise9201 2 роки тому +1

    Finally the video we were waiting 🤣

  • @teritennison6214
    @teritennison6214 2 роки тому

    Good info. Thanks

  • @borisg4024
    @borisg4024 2 роки тому +1

    Thank you!!!!

  • @hernandopizarro755
    @hernandopizarro755 2 роки тому +2

    Great shirt!

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      Thanks. I bought a bunch of new Hawaiian shirts 🤣

  • @jwsammybklyn1
    @jwsammybklyn1 2 роки тому

    Good information 💯💯

  • @koby2995
    @koby2995 2 роки тому +2

    Great information, I really need to get a business line of credit for my dealer ASAP

  • @SuperStarCustoms
    @SuperStarCustoms 2 роки тому +8

    To avoid the hassle of flooring companies, I just use personal and business lines of credit to buy cars/parts.

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +5

      Facts

    • @chava1441
      @chava1441 2 роки тому +3

      What banks did you go thru to get these lines of credit

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +4

      @@chava1441 Some stuff I have to save for the classes and consulting.

    • @chava1441
      @chava1441 2 роки тому +1

      @@LuckyLopez777 no worries man i completely understand

    • @SuperStarCustoms
      @SuperStarCustoms 2 роки тому +3

      @@chava1441 for personal I went through my credit union. you can go to any bank if you have good credit and income. The business credit is a whole different animal though. For that I'd recommend the consulting

  • @Munch1289
    @Munch1289 Рік тому

    Thank you

  • @loganleemanzanares
    @loganleemanzanares 2 роки тому +1

    Great video

  • @bobsides59
    @bobsides59 2 роки тому +1

    WTG Lucky. Now your talking sweet music to my ears. I still think Cash is king, yet Credit is, KING SIZE! The business side is where I operate. I just started another Navy FCU Pledge loan. It was approved and 2 days later I paid down 75% of the loan off before the 1st payment is due. My 1st payment was due 15 Sept, now it is 15 Jan 22. LoL. I already have it set to start “auto repayment” over the next 5 months ending 1 month early. Last time once the loan ended my CS DROPPED like 45 points!

  • @jay2live246
    @jay2live246 2 роки тому +1

    Thx dude 🙏🏼

  • @theodor33e
    @theodor33e 2 роки тому +1

    How do I establish getting that business credit And how long do I have to obtain it in order to use it?

  • @tyrellnichols6968
    @tyrellnichols6968 2 роки тому

    Im in jacksonville,Fl they do not require a rental car license or a bond to run a company so trying to figure out how this would apply to someone in my city

  • @jaron-craighunter4485
    @jaron-craighunter4485 Рік тому

    must have been an awesome bartender!

  • @CarolReidCA
    @CarolReidCA 2 роки тому +2

    Any line of credit you co-sign for does affect your personal credit score and your DTI.
    The More You Know!

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому

      just make sure its business lines. so it dont show up on personal credit

  • @JBVision
    @JBVision 2 роки тому +4

    Hey, first I want to say thank you for sharing this information. It has been very helpful. Can you tell me some banks that will allow me to get a loan to purchase vehicles for my rental business? I have good personal credit so I don’t have a problem with PG. I was also wondering if there would be a problem getting the loan with an LLC that I started let’s say last week even though I wouldn’t have any business credit. Only an ein and duns number?
    Thanks I’m advance

  • @user-hl1gm1rw3q
    @user-hl1gm1rw3q 9 місяців тому

    Do Floor Plan companies finance at-home Wholesale dealers?

  • @kelceyburrissr
    @kelceyburrissr 2 роки тому +3

    How do dealers partner with banks or sub prime lenders In order to help finance people that are buying cars?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      That’s something that takes a long time explain and a business plan to work out if you want to learn more I will definitely set up a consulting call

  • @Wavey.P
    @Wavey.P 2 роки тому +1

    Exactly what is a vendor?

  • @xsenseimyagi
    @xsenseimyagi 2 роки тому +3

    Good info! Are you still active in your credit repair biz?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      Hell No. people never paid thats why i got out. lol

  • @AB_THE_CEO
    @AB_THE_CEO 2 роки тому +1

    🔥🔥🔥🔥🔥

  • @LoadScreenYT
    @LoadScreenYT 2 роки тому

    very overwhelming , i think i'll pass on the automotive industry

  • @DollarsignDzTv
    @DollarsignDzTv 2 роки тому +1

    I’ve been hearing all about “fleet auto Loans” but nobody wants to drop the name of the lenders that actually do “fleet loans” based off bank statements and good credit..
    Would you happen to know the name of some lenders that give out loans specifically for rental fleets ? Cuz that I clicked on the video. Taught I were going to talk about that..

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +1

      There are 100s. if you go to a local franchise store the can tell you

  • @stilliraise9201
    @stilliraise9201 2 роки тому +1

    I have an autopay on my cd loan. I gave 2k to my credit union I don't have to pay because they deduct it automatically. I open a secure credit card with them for a 1k and since the rule of thumb is to used the 30% I can only use 300 dollars but the trick is to pay twice before the due date. This was around 8 months ago.i think my credit is still the same I haven't checked yet .That's a great idea to open more than one secure credit card. What about to open more CD's?? Are these been called tradeline s.?

  • @NoDripp2
    @NoDripp2 2 роки тому +2

    So what do u do if u just made a LLC and wanna buy a car if I do sign will it effect my DTI on my personal?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +1

      No. it will go on business credit and it does affect personal credit

    • @NoDripp2
      @NoDripp2 2 роки тому

      @@LuckyLopez777 like how? Just a hard inquiry or?

  • @scottvrosenfeld
    @scottvrosenfeld 2 роки тому +1

    Bro! I was just gonna go out and buy as many cars as could and sell machine guns and be a hitman on the dark web but now I see what I can do now legit; thanks man!!!

  • @MotomotoChannel
    @MotomotoChannel Рік тому

    your website link doesnt work

  • @tgenesis8784
    @tgenesis8784 2 роки тому +1

    The info your talking about in your video, does it come with rental car program?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      I talk about them in the classes

    • @tgenesis8784
      @tgenesis8784 2 роки тому +1

      @@LuckyLopez777 sounds good, I wanna know when will u be in Dallas? I'm thinking about making that 5 n half trip.

  • @slicc9048
    @slicc9048 2 роки тому +1

    What does it mean when it says title absent. And what or how do you remedy this

  • @drianhamp2964
    @drianhamp2964 2 роки тому +1

    Do you think 3k in start up cost and personal credit score 650 is good enough to have success with starting a rental car company through your program?

  • @floridaplumber7512
    @floridaplumber7512 2 роки тому +1

    Any insurance companies insure a fire truck for everyday use?

  • @joel_seth_media
    @joel_seth_media 2 роки тому +1

    What if my DTI is high but my score is 750+? Will cosigning for the business still be possible? What about getting a bond or commercial insurance?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      yes. but if you go for a line of credit is where the will approve you for a smaller amount. Score is for Rate %. DTI and history is for Amount $

    • @joel_seth_media
      @joel_seth_media 2 роки тому +1

      @@LuckyLopez777 Makes sense. Thanks!

  • @jaga4287
    @jaga4287 2 роки тому +1

    How can I find someone that flips cars like you do but I provide them the money to purchase more used cars to flip while we share in the profit?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      Most of us that are good at flipping/wholesale cars won't take money from people because everyone wants to split the money 50-50. with no work, so we always pass. I would check around your area and I would get $20-50K together and ask for a 10-15% return. you might find someone

    • @jaga4287
      @jaga4287 2 роки тому

      @@LuckyLopez777 Thank you for the reply. That is what I thought that the good ones wouldn't take outside investment. However, wouldn't this help you scale your bushiness more by using outside capital?

  • @mike-ej9hz
    @mike-ej9hz 2 роки тому +1

    Can I buy cars to rent on turo through my business line of credit?

  • @mklockley
    @mklockley 2 роки тому +1

    Hey brother I been in business since January 21 I have a wholesale license really need help with fleet auto lines of credit

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      Go to our site and set up a consulting call 🙌

  • @ericramirez5902
    @ericramirez5902 2 роки тому +1

    Can u have multiple AU's with multiple people?

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      you can but some cards dont like to ad alot of people

  • @juvibro9913
    @juvibro9913 2 роки тому +2

    I was able to get my dealership $50,000 bond for $670 in California. I think I stole it.

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +4

      I pay $1000 for 100k in NV. just make sure your bond covers legal costs. they never tell you. you have to ask

    • @juvibro9913
      @juvibro9913 2 роки тому +2

      @@LuckyLopez777 okay I will look into it.

  • @yarvingreen5428
    @yarvingreen5428 2 роки тому +1

    Got a 750credit score 80paydex 85 Experian business but i have child support reporting negative..paid 2 different company's to remove it but both could not remove child support..any help?new in business just dropped my sole prop so llc is new.

    • @yarvingreen5428
      @yarvingreen5428 2 роки тому

      Any suggestions on removing child support?

  • @samtavoosian3059
    @samtavoosian3059 2 роки тому +1

    13:11 when you have no real plan

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +1

      Facts!!!!

    • @samtavoosian3059
      @samtavoosian3059 2 роки тому +1

      I have total of 9 cars in Los Angeles. 7 on Getaround and 2 on avail. Cars making $700-1200 a month. It’s ridiculous since I bought them around $5,000. Opened the LLC a year ago now it has 8 lines reporting with business credit cards and lines of credit but I haven’t used any leverage yet. I bought all my cars cash and I already recouped my money. I’m in mortgage business and don’t want to grow the car rental unless I find a partner who wants to work in the business. To me It’s more of a high return investment rather than business. Buy a car cash from third party 15-20% below market value, rent it out make money then sell or have it get crashed for a higher pay. Would you recommend me to partner up with someone? I think we can turn this into 100k a month business. What is your opinion?

    • @wilnersonjean489
      @wilnersonjean489 2 роки тому

      @@samtavoosian3059 What is your email, would love to send you a proposal.

  • @lifewitmarkp6011
    @lifewitmarkp6011 2 роки тому +3

    I heard my jewelry club not reporting to your credit report any longer 😒

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +1

      i think they only do 2 credit bureaus

    • @toddp.226
      @toddp.226 2 роки тому

      @@LuckyLopez777 MJC not reporting to any of the bureaus now. The bureaus are cracking down on these companies. Even AU's are getting harder to post and most tradeline companies will only guarantee that the tradeline you purchase will post to 2 of the 3.

  • @saurabhsrivastava9873
    @saurabhsrivastava9873 2 роки тому +1

    Hello,
    Hope you are doing well. I want to buy a car but I have below factors -
    I am in USA for max 3 more years so I have to resell it.
    I mostly work from home so I need a car in which I can roam around in city or may be once a month on a long trip.
    I do need car with more features than power.
    My budget can range between 20 to 35 K depending on the car. Lesser the better. 😊
    Please suggest me something as I am really getting confused what to buy in this uncertain market.
    Thank You
    Saurabh

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +2

      I would not buy anything until Oct

    • @saurabhsrivastava9873
      @saurabhsrivastava9873 2 роки тому

      @@LuckyLopez777 I was planning for September but I think I'll can wait for another month.....its crazy right now in the market....
      Need to get atleast a decent deal.

  • @daytonaguy3584
    @daytonaguy3584 2 роки тому +2

    Mjc and new coast direct are dead

  • @user-xo4oc6lz5n
    @user-xo4oc6lz5n 2 роки тому +1

    🤗🙂👌😁😀

  • @Ytwatcher-uz7mk
    @Ytwatcher-uz7mk 2 роки тому +1

    Toast

  • @steponmemommy9323
    @steponmemommy9323 2 роки тому +1

    Pikachu

  • @tombrady8109
    @tombrady8109 Рік тому

    U gotta stop saying “squeeze the like button” that shit is corny af

  • @GamersBuzz2020
    @GamersBuzz2020 2 роки тому

    Why TF is UA-cam auto subscribing me to your channel
    I unsubscribed literally 7th time since 3 days.
    😠

    • @toddp.226
      @toddp.226 2 роки тому

      I've had that happen with other channels. My opinion is that it's just a glitch in YT's programming and nothing nefarious.

    • @GamersBuzz2020
      @GamersBuzz2020 2 роки тому

      @@toddp.226 bro it's happenung regularly. I'm just getting subscribed to 15 to 20 channels a day and in that this channel is always regular

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +1

      Not sure what to say. I know youtube has been acting crazy lately

    • @LuckyLopez777
      @LuckyLopez777  2 роки тому +1

      I can block you if you like ?

    • @prxz6296
      @prxz6296 2 роки тому

      Same IDK why?