Business Credit Application Toyota: Fill & Download for Free

Mine was purely due to the constant bait and switch approach of the Mercedes showroom at Charlotte NC. I found a car in their website, called their showroom to make sure it is there at that exact moment, drove there within 10 minutes and boom! The car just got sold. This happened to me 4 times. Then they show you a car which will usually be $4000 more than what you were looking for and they try to apologize for not having what you wanted and try to sell the expensive one. This may not be a problem for many but I wanted to buy in cash or take a loan and pay it off within the first 2 months as I dont like to be in debt if I can avoid it.So my next choice was a Japanese SUV which retains more value when I want to sell it. Tried a Nissan showroom in South Charlotte - the car salesman quoted me a higher price than the website and said I need to apply to qualify for the internet price. I cant get the internet price as I came from the streets - his words not mine. The suv was within budget and I wanted to buy it in cash but this guy wanted me to file a credit application so that they can sell it to me in cash. I walked out!I helped many of my friends to find their right car as I can check it inside and outside in under 15 minutes. I have found many issues in used cars even from dealerships and saved them money. But when I wanted to buy a car and needed their help - they were all busy with work, not feeling well or had other plans. So, this made me more focused and determined.Finally, I found an online car selling website based in Atlanta. Found the color, make and model of the suv that was one of my choices - ordered it and got it delivered in about 4 days to my apartment. I took this leap of faith as they had like 7 day no question asked return policy. It was dirty on the outside due to open transportation, had to take it to a car wash immediately. I took it to 2 different Toyota showrooms and a trusted family friend who owns a car repair shop. There were some vibrations, I took care of it and thats it. It has been an awesome 3 years with my Toyota Highlander and have not felt the same comfort in any other car/ suv I have rented from Hertz or Avis. It was a little over my budget and got denied by Charlotte Metro Credit Union for not having “Green card”. They told me after hitting my credit score. So I made an in-house finance for a whopping 9.75% and refinanced it after finding the right credit union.

Why is my car loan APR high despite having good credit (700 - 749)?There are multiple factors that go into determining the risk you represent to the creditor, not just your credit score. In addition to your credit score they take these factors into consideration:Debt-to-income ratio - If your debt-to-income ratio is high, there is a much higher probability that you may have problems making the monthly payment in the future. Once you are above 43% debt-to-income ratio you may even be completely denied credit, even if you have 800+ credit.Length of credit experience - If you have a 20 year history of credit and no derogatory marks on your credit, it is a very good indicator that you are aware of your capabilities and know when to stop before taking on too much debt. If you have a credit history of less than 10 years, there may just not be enough information on how you will perform as a debtor.Defaults and Bankruptcy - Even if you have defaults and bankruptcy entries on your credit, you may have been able to recover your score to 700+. If these black marks are still showing on your credit history you have proven that you can be a huge risk and will walk away from your obligations. Creditors will take another chance on you, but your risk is higher and so will your rates.How big of a sucker you are - Creditors are in the business of making money and the higher rate they can sucker you into taking, the more they make. You could have perfect credit and a very low debt-to-income ratio and a 30+ year credit experience and the lender may still try to stick you with a high rate. You have to be able to say no to them and tell them to get you a better rate or you’ll walk.So, there you have it. You can have a good credit score (and let’s be clear, 700–749 is only okay, not good) and still be offered a high APR, especially on a car loan. Normally the dealer is shopping your credit application around and they get paid by getting you to take a loan. Different lenders will pay the dealership different amounts of money for the loan, so the dealership is motivated to see what they can sucker you into. If they think you are desperate to get a particular car or dumb enough not to shop around, they won’t give you the best deal, they’ll give you the most profitable deal to them while not sinking the deal.Story Time:I have built up my businesses and lived well below my means for the majority of my life. For that, I have 800+ credit and a debt to income ratio that hovers around 1:10 (or 10%). I have what my mortgage broker calls “Black Card Credit”, meaning that I qualify for the mysterious and fabled Black Cards offered by many large banks that would allow me to do various stupid thing like buy a $100k car by swiping the card. I also have the ability to just write a check for 6 figures at the drop of a hat, if so inclined. That said, I do generally finance my vehicles when I purchase them.Why?Well first off, I get a better deal from the dealership when I finance. They get profit from selling my loan and pass some of the savings off to me. Second, I generally qualify for the most favored rates that you see advertised on TV. My last two vehicles were financed at 0.9% and 0.0% respectively. I can literally have money sitting in my checking account making more money than I’m paying to the finance company (my account earns 1.69%).This does NOT stop the dealerships from trying to offer me 3% or even 7% loans. My general approach is this: I do my research ahead of time to finalize what vehicle I’m going to buy and find out online who has the exact car I want in stock before I go to the dealership. I research ALL of the incentives and rebates that I’m available for from the manufacturer, dealership, financing, loyalty, etc. I bring them in and have them written up. If you don’t do this, the first place the dealership will probably try to get you is by not telling you about an incentive or rebate and instead pocket it themselves.Then, and only then, do we negotiate the price of the CAR. Not the bottom line, not the monthly payment, but the car itself. Sometimes this is difficult to get the dealer to speak in. If I try for 10 minutes to start talking about the price of car and not get a suitable response, I’ll just pick up my stuff and walk out. Dealers are so good at the game that they don’t even educate the salespersons on how to talk about the vehicle. Once we have a reasonable price on car, then we apply all of the incentives and rebates and have a final purchase price.Next it’s off to Finance. It is important to understand that these are two very different organizations within the dealership building. The finance company may be owned by the same company that owns the dealership, but they have their own set of objectives and restrictions. It’s best to play them off of each other.First, make sure that the price you agreed to is the price that the Finance person has. If not, stop and make the salesperson make the appropriate adjustments. I’ve seen many agreed to deals get all the way down to signature just to find out the finance guy has a higher base price on the worksheet. Be smart, check this first.Next it’s time for the term, conditions, and APR. Go in knowing what is being offered. If the manufacturer is offering a really good financing deal, let them know that you are aware of it and ask if they have a bank or credit union that can beat it. Often they do, but won’t offer it if you don’t ask. If you come in demanding that you get Toyota Finance 2.9% special financing, that’s what you’re probably going to get, even if they have a credit union offering 1.9%.Lastly, know when it’s time to walk away. Sometimes it’s when the dealer won’t budge. Sometimes it’s when the finance person won’t work for you. Either way, if you don’t get the deal you want, be polite, be professional, and walk away. Trust me, they’ll chase you into the parking lot. Don’t yield, just politely tell them that you thought you had the right deal going, but it doesn’t look like they (the dealership) can make it happen, so you’re going to go home to think it over and maybe reconsider the (insert some competitive brand and model of vehicle) before making a final decision.Then leave. Do not falter here. They’ll sling things like “We had a deal and you agreed to/signed on it.” and “You already have the best deal and if you come back tomorrow, we won’t honor it and the price will go up.” My response to that is always “Huh, well I guess there’s no reason to come back at all then. Sorry for wasting your time.” I think it’s the apology that blows their mind. I’ve left a few of them dumbstruck in the parking lot as I drove away.Patience. You just need a tiny bit of patience. Do NOT answer your phone if the dealer calls for the rest of the day. Let them leave voicemail and do NOT return the call. Wait until the next day (or the next business day) to do anything. You’ll be getting another call about noon. By then the manager will be reviewing all of the near-miss sales and yours will be of interest because there was a signed deal and especially if it got cancelled in finance, he’ll want to talk to you.Now it’s time to cut a new deal. A better deal than you had before. Tell them that you are still interested, but can’t afford to waste any more time hanging out in a dealership. If he’ll send you a signed deal with the terms you want, bingo! If they want you to come into the dealership to “discuss it”, just decline and tell them that until you have a signed deal including financing terms, you won’t be dropping by.It’s worked every single time for me and I’ve helped lots of other people do the exact same thing.Good luck and fight for that great deal and better rate.

You raise two issues in one question: registering the business and securing the name. They are completely different, with just a little overlap I'll get to later.Registering a business as a corporation or LLC is something you do to get on the map with the government, and also to protect you and all of the other owners and managers against personal exposure to the company's debts and liabilities, which includes known things like bills you incur and the obligation to make good on contracts you sign, but also unknown stuff like accidents or lawsuits.Filing the paperwork makes you go through a bunch of issues that every business needs to face sooner or later:Are there cofounders? If so, who owns how much? How do you add new team members? What if somebody leaves? What is everybody's position, job duties, expectations, obligations to the company? Are side projects okay?Making sure the company and not any individual owns all of the physical and intellectual property assets, content, inventions, ideas, business relationships, accounts, and opportunities it needs to operate — so that nobody can say it's their ball to take home if they quit.Local filings for business license, payroll, tax, insurance, benefits, and the like.Establishing credit and a business ratingIf it's just you and you have no cofounders, employees, significant traction / customers, major risks, strategic business partners, vendors, investors, or money at stake, you can often postpone incorporation for a while.Regarding the name, you can call your website, the services it offers, and the group that owns it (even if it's just you) anything you want if you get the domain. But if you want to keep that name and not have anybody demand that you change it, or worse, sue for infringement, you should do a thorough trademark search to make sure nobody else is using it— that it's not similar to a famous name already like Toyota that you might have overlooked, and that it's not confusingly similar to an existing name to the point where customers could be confused into thinking you're the same company, or somehow sponsored by or affiliated with them. It doesn't matter if your name is Frank TechCrunch, you can't just call your company TechCrunch.Conversely, if you want some protection against others using similar names to yours, best to file a trademark registration. And then, make sure you can get a corresponding domain name, Facebook page, name on the App Store, twitter handle, and so on.The overlap between incorporating and the name is that you have to give a name to your corporation, and many people use the same name for their website and its products. That's not necessary. If you use a different name in business than your own personal name or the name of the corporation, best to file a local DBA ("doing business as") application, that will avoid trouble and let you open a bank account in the assumed name.