Not sure if this belongs here or in careers, mods please move if I got it wrong.
Has anyone gone through the process of transferring their vehicle ownership to their business? My accountant recommended that I look into it however I still have have a bit of a balance on it that I am financing and as it sits right now the business doesn't have the funds sitting in it to pay fair market value for the truck to me. Could I transfer ownership to the business but make the payments from my personal account until such a time where the business does have a balance to pay for it? Or would that possibly complicate things with the finance company? The business is incorporated with me as the president/ sole shareholder.
I'd like to get a bit of an idea what I am getting into, or the right questions to ask before I call the finance company as I am always leary about what flags they might put on my account if I am just in the question asking phase and not ready to pull the trigger on it.