Transferring personal vehicle to LLC for better DTI

[Chris S.]

Hello! Hopefully I am in the right area for this question. I recently got into REI and have 2 fourplexes which cashflow pretty well. I am looking into picking up another property, but have a crippling $668 truck payment from a cpl years ago when I was younger and slightly dumber. My business account with the fourplexes is doing quite well, and could take a hit of 668/month.

I work full time as well, and was wondering if I started an LLC and transferred the vehicle loan to the LLC, assuming I even could, would that free up my DTI for future purchases?

I realize legal ramifications on transferring properties/vehicle to the LLC, was just wondering if it would work the way im hoping it would. Also I figured I could factor that into the business expense future taxes.

Ad of right now I do not have an LLC, I just keep all the finances seperate. Woukd ve nice to free up 668/month in my personal account and just use the business one to pay for the truck.

Any advice would be greatly appreciated! Thanks

[Steve Vaughan]

Holy cow - sell the truck!  Eat the negative 'equity' and get rid of that ridiculous payment already.

I could buy any truck I wanted, but would ride a bike before having a vehicle payment ever again. Your spirit changes when you're not chained to a payment (not to mention your DTI).

Get a functional beast that gets you from a to b while while hauling what you need and be free, Chris!