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Rates look good to me. Like you said, not many will be calling as you have to live in bumble*** to join. Thanks for posting tooblue
Or.... having more than one house beside the house in "Bumble***" to check the different rates.
You wanted to know where my loan originated from and I post'd it...🤷‍♂️

Good luck with the other lenders you mentioned.
 

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Not to me. Mine will give me 2.75% up to 84 months and up to $200k per household, which can be on one car. Their normal rates are 2.25% up to 72. Auto Loans and Financing in Florida | Suncoast Credit Union
Good point...
Downpayment, duration and other specifics of the loan obviously would affect the terms of the loan.
However the topic is who will finance a car on an out of residence state LLC. That drops a majority of lenders out of the game. I'm assuming the lender you mentioned will do that. Glad it will work for you there!
I figured I might have to give a little for the success of the big picture.

Sounds like Jr Mint has some lenders that will accommodate this endeavor regardless of where you live.

I sincerely hope it works out like mine did for anyone taking this on.
 

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Good point...
Downpayment, duration and other specifics of the loan obviously would affect the terms of the loan.
However the topic is who will finance a car on an out of residence state LLC. That drops a majority of lenders out of the game. I'm assuming the lender you mentioned will do that. Glad it will work for you there!
I figured I might have to give a little for the success of the big picture.

Sounds like Jr Mint has some lenders that will accommodate this endeavor regardless of where you live.

I sincerely hope it works out like mine did for anyone taking this on.
No, I can’t. My dealer won’t allow a MT LLC purchase.
 

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What state? You’re right about one thing, people do need to be careful. It certainly is frowned upon and some places are worse than others.
VA. Montana isn't necessarily the problem, your home state is. Of course there have been people fined and charged, but the general consensus is "they'll crackdown on everyone but me". Not many are very concerned here about it. Me? I don't see the point of avoiding taxes on a car unless you're in LaFerrari or Veyron pricing. It all comes down to this: if you want to try to save a few bucks and are prepared for the risk, do it. But know it's coming at a risk. And, if that risk happens to become your reality don't complain about it.

You might be in an area where State and County don't really do anything until a neighbor rats you out and files an on-line complaint. If you live on acreage where they can't get close to your cars or keep your exotics in a warehouse away from neighbor's eyes you will probably never get caught. But the guy that has his Ferrari or Porsche with Montana tags in a more typical neighborhood that is on quarter or half acre lots, he's going to get pinged by the guy a couple doors down who is stuck driving a 15-year-old BMW because he has two kids in college and that's all he can afford. And once he reports you, the County follows up - then it's pay up time, with penalties and interest.

If you are a say a VA resident with Montana plates and you are stopped in New Hampshire, the NH police don't care because you are not cheating them out of tax revenue (they're just happy to collect on the speeding ticket, or whatever other violation they stopped you for). Not to mention there is nothing they could do about it since they don't have jurisdiction to enforce VA law.
 

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Well, TooBlue sent quite a long message privately to me and didn't include the bank that finances these cars under an LLC in Montana. I will assume that it doesn't exist since the simple name was too difficult to add in the private message.


If anyone does in fact have a bank willing to finance Montana LLC cars, reach out as it would be great info for the community.
Hmmm...
 

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I could see why VA would be a problem. I used to live there. They charge you a yearly property tax on your cars based on a valuation they determine.

It was an obscene amount of money I was paying in addition to registration/insurance etc when I had my collection there.

I use Montana when I can. I have a ranch and business there. It depends on which dealer I’m purchasing from. Lack of tax is great, but the real benefit for me is lack of inspection, tuned cars, catless etc.
 

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The added benefit is that the liability is on the company, the actual owner.

upon more research, us bank let me know that in order to do a loan, the company needs to be in business for 2 years otherwise Sba gets involved. They definitely do not make it easy.
 

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So getting back to the insurance part of this thread, does your insurance need to be the address of the LLC or where you are actually garaging the vehicle? There are plenty of clauses that the terms and conditions has regarding garaging. I would hate to have an accident with no payout because of the address I had on my policy was the wrong location.
 

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For those wanting to go this route there are lenders mentioned above.
i also commented the name of my lender but you need to live in Mo. to qualify.
THERE ARE LENDERS THAT WILL WRITE A LOAN. Just takes some research.

As far as insurance I’ve moved my policy to NCM (National Corvette Museum). I’ve also moved the insurance policy for my R8 to NCMonly stipulation was that I had to send them the insurance policy of my daily driver. They also take into account that a lot of us don’t drive the cars year round. They have different rates if you drive 3,000, 5,000 miles per year.
They gave me the same coverages and DIDN'T MATTER IF I HAD AN OUT OF STATE LLC.
Their rates for the same coverage is lower than Hagerty.

There’s a lot of comments describing possible negative aspects. Some states simply can’t do it. I get it but there’s lot of speculation mentioned above as well.

I’m just passing on info on my experience.
My company attorney laughed at the question of out of state parking that differs from the state of the LLC. “There’s all kinds of large companies/LLCs that have cars permanently working in divisional offices across the
country where the cars aren’t parked in the same state as the headquarters carrying the LLC.

“Don’t shoot the messenger”! Like I said I’m just passing on my experience.

Good luck to those that do the work to make this happen.
 

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So getting back to the insurance part of this thread, does your insurance need to be the address of the LLC or where you are actually garaging the vehicle? There are plenty of clauses that the terms and conditions has regarding garaging. I would hate to have an accident with no payout because of the address I had on my policy was the wrong location.
What did you do? Diving into this and trying to figure out how the insurance should be and what I should say when I call insurance? I live in Florida.
 

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Can you share your Hagerty connect who helped you with this? Thanks!
I don’t have any of Hagerty’s paperwork. After having so many non related issues with them I threw it all away.
I never dealt directly with an agent at Hagerty. Not to confuse the issue but my local insurance broker that handles all my personal possessions (home, other cars etc)
found Hagerty. Hagerty actually sub’d the insurance back to my local broker to write the policy???? Doesn’t make sense but that’s what happened.

There were a couple other insurance companies I found that would cover the LLC policy but they wanted all my insurance declarations.
After researching the company, I would strongly recommend the NCM brokerage above over Hagerty.
* Just my opinion due to coverages, price and very helpful underwriters when doing the research on this.
 

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I never dealt directly with an agent at Hagerty. Not to confuse the issue but my local insurance broker that handles all my personal possessions (home, other cars etc)
found Hagerty. Hagerty actually sub’d the insurance back to my local broker to write the policy???? Doesn’t make sense but that’s what happened.
That’s like Progressive. You can go direct or they have agent rates. At any given time one could be better than the other. Never know.
 
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