Want to buy a Promaster 2500 159 wb

Newbie's Corner
#1

Introduce Yourself…

Hey everyone, new to the forum. I want to buy a Promaster under an LLC I established but it has no capital, and Chase told me they are not doing any new business start up loans for auto. I guess that means I have to buy it myself. I want the coverage of the LLC to protect my personal assets (the house I own and bank accounts).

If my LLC rents the van from me, then rents it out under the LLC on Outdoorsy would my assets be protected? How does everyone else rent out their van when not using it yourself and protect yourself from being sued in case of an accident?

Also, is Roamly any good for RV insurance?

Thanks for any insight and help. Ryan.

#2

Sounds like you need to talk with an accountant and tax lawyer. Any advice you get here on that subject is probably worth what you paid.

#3

Thanks Axel. I have an appointment to talk with a tax lawyer soon.

#4

You really want to be careful on the insurance. There are many posts on here where people buy without taking that step first and then are at a loss. It’s really going to be dependent on your state, but many insurance companies won’t insure you as an RV unless the conversion is done professionally. Definitely worth looking into before you take the plunge. You don’t want to void your insurance because you made it a living space.

You should consider how renting your new van out could affect any warranty you may have. There may be some issues there.

I agree with @Axel on getting in touch with people who know this stuff from a legal standpoint. I know one person that has his van through his company, but he does not rent his as you are going to attemp to do.