How I Used Business Credit To Buy A Lamborghini

[@MrCLAASS]

That Lamborghini is the most inpractical vehicle to go shopping with. Low body scrapes on the road, doesn't like potholes. But a good lesson in this video about personal finance.

[@NoelleRandall1]

I appreciate your thoughts, and thank you for watching! While a Lamborghini may seem impractical for shopping, I didn’t buy it just for luxury. I actually use it for my Turo rental, which generates passive income, and it helps me make a strong impression on high-end clients, boosting my business growth. By purchasing it through my business with no down payment, I’m leveraging business credit and tax benefits under Section 179. That’s how we should always approach vehicle purchases, they should generate money for us! 🙂

[@whatzit2utho781]

@NoelleRandall1 Scream it LOUDER for the self serving one track minded mute one's in the back‼️⬅️😂🤣

[@keepingitrealwiththebrowns]

Solid information Noelle! Spot on! We have been educating this to our clients for years! Thanks for sharing!

[@NoelleRandall1]

Thank you so much! I’m glad the information resonated with you. ❤️

[@dwaynemayweather3634]

I love the information, I’m literally in the process of Getting a car in my business name!❤❤❤❤❤ Grand slam. Cheers 🥂 Noelle 🤟🏿 🤟🏿

[@NoelleRandall1]

Awesome! Cheers to you for taking that step! 🙌 Getting a car in your business name is such a smart move, especially with all the benefits it offers like tax deductions and keeping your personal credit untouched. Keep it going, you’re on the right track!

[@dwaynemayweather3634]

@@NoelleRandall1 Gratitude 🙏🏿 you just d know how much the community appreciates you

[@iamtheejuiceempress__]

@@NoelleRandall1 hi Noelle , how can I talk to you 1 on 1??

[@marshaking2802]

I love it, I have multiple Dodge Durangos in my business 🥰

[@RaeVonshae]

You wanna know how I feel about it? I'll tell you how I feel about it.... I LOVE IT! That's how I feel about it! 😍

[@NoelleRandall1]

Than k you ! 🥰

[@mikea8756]

Hello Noelle, love your videos. Would buying an aged or shelf corp qualify as having this established business that is 2 years old for doing this? Thank you.

[@phyllissong]

I'm always looking for ways to maximize my tax write-offs, and this is an interesting tactic. It's smart to use those cars for business as well - building a strong image is essential, especially when working with high-end clients. I'll have to check out Found for my business checking account. Thanks for sharing your insights!

[@NoelleRandall1]

Absolutely! 𝗦𝗶𝗴𝗻 𝘂𝗽 𝘄𝗶𝘁𝗵𝗶𝗻 𝗮 𝗳𝗲𝘄 𝗺𝗶𝗻𝘂𝘁𝗲 𝘄𝗶𝘁𝗵 𝗙𝗼𝘂𝗻𝗱 : noellerandall.com/found

[@_WealthyWill]

Look at you grow 👏🏾👏🏾👏🏾 I love your channel! Do you know any trusted people that can help with building personal credit?

[@NoelleRandall1]

Justinmircheconsulting.com

[@_WealthyWill]

@@NoelleRandall1 Thank you 🙏🏾

[@Dr.Octogon]

Section 179 only allows for 30k to be written off for SUV’s. Isn’t there a depreciation cap on the Urus?

[@NoelleRandall1]

Absolutely! You're right that Section 179 has specific limits for SUVs. For the 2023 tax year, vehicles over 6,000 pounds can qualify for a maximum deduction of $26,200. However, the Lamborghini Urus does face additional depreciation caps. While it qualifies as an SUV, luxury vehicles often have reduced first-year depreciation deductions when the purchase price exceeds around $20,000. The actual deduction can vary based on how the vehicle is used in your business. Tax laws are always changing, so it’s a great idea to consult with a tax professional who can provide tailored advice for your situation.

[@TheAmazingRaceTo7]

​@@NoelleRandall1y

[@Charlesmarcel-ee4ke]

Beware of the scammers that’s all I have too say

[@WigsNWineLounge]

It’s funny that you said buy a Bentley because I’ve literally been looking at a ton of videos this week Bentleys and the Taycan. I’m gonna start with the Porsche and maybe in two years. I can do the Bentley through section 179. That’s the plan.

[@NoelleRandall1]

Starting with the Porsche allows you to enjoy luxury while you work toward the Bentley, and leveraging Section 179 for tax advantages is indeed a smart strategy. Keep your focus on your goals, and you’ll be cruising in that Bentley before you know it!

[@Ae-gk8ul]

I love seeing success 🎉

[@NoelleRandall1]

Me too!

[@yolandamsallard9164]

Come to NJ

[@NoelleRandall1]

Soon 🙏

[@CHEKnows]

"I am actually wealthy" that sounded too sexy🎉❤

[@NoelleRandall1]

Exactly, I've worked hard to achieve financial stability and success.

[@jaydillard7258]

Awesome!

[@NoelleRandall1]

Thank you! Cheers!❤️

[@SamuraiXensei]

I think it’s a good idea which I wanted to do but when I purchased my vehicles I did not get a tax write off.

[@NoelleRandall1]

Absolutely, I appreciate you sharing your experience! If you didn’t get a tax write-off for your vehicle, there could be a few reasons why. For example, to qualify for a Section 179 deduction, the vehicle generally needs to be used for business purposes more than 50% of the time. Plus, it must be both purchased and put into service within the tax year you're claiming the deduction for. It might be helpful to double-check with a tax advisor to make sure all the necessary conditions are met. Sometimes, the details of how and when the vehicle is used, along with having the right documentation, can really make a difference.

[@DIALYSISWITHJULIAN]

I want to learn how to wholesale

[@NoelleRandall1]

Absolutely! Let's set up a strategy call with me and my team to discuss a tailored plan specifically for you. You can book here: callnoelle.com/qualification-page

[@MrTvareshoward]

Amazing video ❤

[@NoelleRandall1]

Thank you for watching!

[@kd0ileydorsey349]

I want a range rover for my business. Do you have to have at least 2 years in your business?

[@NoelleRandall1]

Great question! You don’t have to be in business for 2 years to get a Range Rover, but it can definitely help! Lenders often prefer to see a bit of stability, so having that track record is a plus. That said, if your personal credit is strong, you’ve got a solid business checking account, and your business plan is on point, you might still be able to get financing sooner.

[@kd0ileydorsey349]

@@NoelleRandall1 thank you so much for responding. I am just starting out and I must say it is tough.

[@verderriscursey]

It's a good tax write off because of the weight. I'm not sure why the irs does it by the weight of the vehicle, but it's either 5 or 6,000 lbs and up

[@NoelleRandall1]

Yes, you're absolutely right! That's part of Section 179 of the IRS tax code. Vehicles that weigh over 6,000 lbs qualify for a pretty nice tax write-off because they’re considered business equipment. You can actually deduct a large portion of the vehicle's cost in the year it’s used for business. It’s a great way for business owners and entrepreneurs to save big!

[@kempwashington2722]

@@NoelleRandall1 exactly right, Queen!

[@kalstonii]

@@verderriscursey they do it by weight as a benefit to construction and farming industries to consistently purchase new machinery.

[@SymiatheRealtor]

Girl what you doing in that thumbnail 😅 if you don’t turn around 😂

[@NoelleRandall1]

😂😂😂

[@SymiatheRealtor]

@@NoelleRandall1 love you girl 🤗❤️

[@verderriscursey]

@@SymiatheRealtor lol, it's a nice thumbnail

[@yolandamsallard9164]

What if you don't have a car loan

[@NoelleRandall1]

Absolutely! , You can still build business credit and grow your wealth even if you don’t have a car loan. Start by setting up your business with an EIN, a registered entity, and a business bank account, and use business credit cards responsibly. Explore alternative funding options like lines of credit or term loans, and consider leveraging your business assets, such as equipment or real estate, for collateral. If you need a vehicle, leasing might be a smart, lower-cost option with tax benefits. Lastly, don’t forget to look into grants and other funding opportunities that don’t require a loan. Building business credit is all about diversifying your approach and making the most of what you have!

[@ELay101]

I'm an electrician and need help getting an investment property. Can you hold my hand until I get it done??👀😂🙏🏿

[@NoelleRandall1]

Start by figuring out what you want from your investment-whether it’s rental income, growth, or a flip. Next, take a look at your finances, including your credit score and savings, to set your budget. Get pre-approved for a mortgage so you know how much you can borrow. Then, find a real estate agent who’s great with investment properties. Research potential properties-inspect them, check their history, and see how they stack up in terms of return. When you find a property you like, make an offer with your agent’s help and be ready to negotiate. Once your offer is accepted, finalize your mortgage, close the deal, and take ownership. Lastly, decide if you’ll handle the property yourself or bring in a manager.

[@latrellbylatrell]

@@NoelleRandall1 awwww mannnn you the truth 🌹x12 to you

[@jennyfferm.so-chheng8675]

Hhhhmmmm, interesting. I thought there’s a new regulation on this subject? We’re not allowed to have 💯 of the write off..

[@NoelleRandall1]

Great question! There have been some changes over the years. As of 2024, bonus depreciation has been reduced to 80%, down from the 100% that was available in previous years. However, with Section 179, you can still deduct a large portion of vehicle expenses, depending on the cost of the vehicle and its business use. Depreciation, maintenance, and fuel can still be written off if the vehicle is primarily used for business. Always good to consult a tax professional for the specifics of your situation! ❤️

[@anthonyking577]

word

[@karath7885]

👍🏾👍🏾👍🏾

[@Msbrown-cr4sg]

Here

[@NoelleRandall1]

@@Msbrown-cr4sg Hi

[@mobilelabor1274]

My my

[@23jumpmayne]

You bought a Lamborghini my goodness 👀🤔

[@NoelleRandall1]

Absolutely! 😊 It was a significant milestone for me, achieved through smart financial decisions. I didn’t buy the Lamborghini to brag, I did it for business purposes. I also have a rental business, so I use the car for that as well.

[@23jumpmayne]

@@NoelleRandall1 Miss Noelle you’re such an awesome lady. I was I could handle failure like your u make life and success look incredible

[@dappergents3743]

In this economic climate a Lambo would be the last thing on my mind Sometimes i feel like we as a people are all over the place We have become at ease relying on the resources of others

[@NoelleRandall1]

You’re absolutely right. In today’s economy, buying something like a Lambo might not be the smartest move for everyone. I totally get it-we should be focused on financial stability, especially in times like these. Flashy purchases are tempting, but they don’t always lead to real wealth. It’s about shifting our mindset toward building lasting wealth and becoming self-reliant. As a community, we’ve got to stop relying so much on external resources and start creating our own.

[@damiondobney542]

Well, you dress for the job you want.... however all luxury and euro cars have very high depreciation rate. The Lamborghini may be the lowest compare to the other.

[@NoelleRandall1]

Absolutely, dressing for success is important, but when it comes to luxury cars like Lamborghinis, depreciation is a reality. I bought the Lamborghini not to flaunt, but to integrate into my business strategy. By offering it as a rental option alongside my properties, I create a unique value proposition. Renters can enjoy a luxury experience while paying for the rent, turning the car into a practical asset rather than just a status symbol. 🙂