How to transfer personal auto lease to business auto lease?
I'd approach the lender that you're getting the lease from, but be prepared for them either saying 'no' to putting the lease into the name of an LLC without any proven track record (because it hasn't been around for a while) or require you to sign a personal guarantee, which partially defeats the purpose of putting the car lease into the LLC. I'd also talk to an accountant to see if you can't just charge the business the mileage on your vehicle as that might be the simplest solution, especially if the lender gets stroppy. Of course the mileage rate might not cover the expense for the lease as that one is designed to cover the steepest part of the depreciation curve. Does your LLC generate the revenue needed so it can take on the lease in the first place? If it's a new business you might not need or want the drain on your finances that a lease can be. See what the contract says about transfers or subleases. A lease is a credit agreement, so the lessor may not allow transfers.  You probably ought to talk to an accountant about this. You can probably recognize most of the costs associated with the car without re-financing it in another lease.
Money factor is a term coined by leasing companies to make car leasing that much more convoluted. It's basically a decimal value that you multiply by 2400 in order to arrive at your actual annual percentage rate or interest rate. Here's a really good article detailing how you can calculate your interest rate based on other criteria in your leasing contract, because most of the time you won't even be given money factor on your leasing contract "Played ""the balance transfer game"" once recently, just as a reference - Got a balance transfer offer for a sock drawer no-AF card. 2% up-front fee, 0% APR. Grace period was, by the time I acted on it, about 16 months. Used it to pay down an auto loan with an APR slightly higher than 2%, and brought my equity back to positive. Towards the end when I rolled over the auto loan, thanks to the positive equity I was offered a rate discount on the new loan. Essentially this was a piggyback loan on the original auto loan funded by credit card (via balance transfer). Saved some interest charges without having to refinance." Freehold is simple - it's when you own the building and the land it's on.  There's no rent to pay (but you will still have to pay taxes!). Leasehold is when the property is leased - rented out for a fixed period that could be anything from 6 months to 199 years.  There will be a rent to pay.  The person who owns the property is still the freeholder. There may be some confusion caused by what is being sold.  You can buy out a lease from the current leaseholder.  It's also possible to buy the freehold of a property that is currently leased to someone else. It is also possible to have a freehold building on leasehold land. Unless you own a business and the car is used in that business you can't write off your auto repairs. If you start a sole-proprietorship in your own name there are all sorts of things you can write off as long as there is a reasonable expectation of profit. This includes a portion of your car repairs, a portion of your home expenses (assuming it's a home-based business), any tools used in the business, all kinds of stuff. The portion of your auto is based on total miles driven in the year vs. total miles driven for business purposes. Eligible auto expenses include repairs, gas/oil, insurance, parking, and interest on the auto loan. There are some things to remember: I'm no expert on California business law. Talk to a lawyer and an accountant if you wish to go this way. Many offer a half-hour free session for new clients. As far as accounting  goes, if you speak with a CPA, you may be able to reduce the business tax liability.  So... the company buys the truck, deducts it, and the adjusted gross income drops, so he'd pay less tax.  Or something.  You said anything helps, hope you meant it! "Numbers: Estimate you still owe around 37000 (48500 - 4750, 5% interest, 618 per month payment). Initial price, down payment, payments made - none of these mean anything.  Ask your lender, ""What is the payoff of the current loan?"" Next, sell or trade the current vehicle. Compare to the amount owed. Any shortfall has to be repaid, out of pocket, or in some cases added to the price of the new car and included in the principal of the new loan.  You cannot calculate how much you still owe the way you have, because it totally ignores interest. Advice on practicality:  Don't do this.  You will be upside down even worse on the new car from the instant you drive off the lot.  Sell the current vehicle, find a way to pay the difference - one that doesn't involve financing. Cut your losses on the upside down vehicle. Then purchase a new vehicle. I'm in the ""Pay cash for gently used"" school, YMMV. Another option is to go to your bank.  Refinance your car now to get a lower interest rate.  Pay as much of the principal as you can.  Keep that car until it is paid off.  Then you will not be upside down. If you're asking how to use the estimator on the webpage.  Put the payoff in the downpayment as a negative and the trade in value in the trade in spot.  Expect the payment to go up significantly.   Another opinion that might be practical advice.  Nothing we say here will convince your financially responsible spouse that this is a good idea." You could have the buyer go to the bank with you so that he can get evidence that the loan will be paid in full and that the lien will be lifted. The bank won't sign over the title (and lift the lien) until the loan is paid back in full. DMV.org has a pretty good section about this. (Note: not affiliated with the actual DMV) Selling to a Private Party Though more effort will be required on your part, selling a car with a   lien privately could net you a higher profit. Here are a few things   you'll need to consider to make the process easier:  Include the   details of the lien in your listing. You'll list an advertisement for   your car just as you would any other vehicle, with the addition of the   lien information that buyers will need so as to avoid confusion.  Sell   in the location of the lienholder, if possible. If the bank or   financial institution holding the lien is located in the area you're   trying to sell, this will make the transaction much easier. Once you   make an agreement with the buyer, you can go directly to the lender to   pay off the existing lien. Ownership can then be transferred in person   from the financial institution to the buyer.  Consider an escrow   service. If the financial institution isn't in your area, an escrow   service can help to ensure a secure transaction. An escrow service   will assume responsibility for receiving payments from the buyer and   will hold the title until the purchase is complete. Advantages of an   escrow service include: Payoff services, which will do most of the   work with the financing institution for you. Title transfer services,   which can help to ensure a safe and legitimate transaction and provide   the necessary paperwork once the sale is complete. You need to redomesticate it. Usually that involves filing Articles of Dissolution with your current jurisdiction of Org and Articles of Incorp or domestication with the new state. Note that there are some states that are not open to redomestication (and Cali always tends to be an oddball).  You can probably call up the Secretary of States' offices in both jurisdictions and someone will give you the heads up about what to file. Google search could help. Also a CO lawyer could probably do this for about $1k.  Another way around this might be to form a CO LLC and then merge the CA LLC into the surviving CO. In the event of both a redomestication or merger, you want to check your org docs and any and all outside contracts. Redomestication/merger can trigger change of control provisions that may open you up to penalties or termination of those contracts.   As always the best legal advice I can give on Reddit would be to find a lawyer for this.