Third Party Guaranty

Differentiating and managing debt-to-income ratios in personal credit bureaus can be a challenge for any business owner today. Imagine your customer making all their previous loan payments on time, but still being denied a loan simply because they have too many other obligations on their personal credit bureau. Business owners need a way to keep their personal obligations separate from their business debts. For this reason, Hall Chevrolet Commercial Division created our Third Party Guaranty program.

Designed exclusively with the business owner in mind, our Third Party Guaranty allows business owners to keep their business transactions at arm’s length – and their personal name off of the vehicle contract and title. The business owner would still provide the additional financial backing that Hall Chevrolet Commercial Division may require, while keeping their personal credit free and clear.

Benefits:

  • Build credit in a business name only.
  • Debt will not show up on owner's personal credit bureau report, unless Guarantor is unable to pay in the event of default.
  • Added protection from liability, since Guarantor’s name remains off of vehicle’s title and contract.
  • Provides additional security to a transaction, without requiring a co-buyer on the transaction.
  • Guarantor will only be contacted for repayment in the event of default.

To obtain a flyer so that you may discuss this program with your customer, please click here

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For multiple vehicle purchases, we also have a variation of this program on Hall Chevrolet Commercial Division Commercial Lines of Credit, whereby the Guarantor would guaranty the entire Credit Line established.

* Hall Chevrolet Commercial Division reserves the right to amend this program at anytime without written consent. All Third Party Guaranty transactions are subject to prior submission and approval of transaction and Guarantor. Guarantor must be an authorized officer of the Company. Guaranty remains in effect for the entire life of the contract and cannot be withdrawn. Valid on Business Transactions only.