Any Accountants Out There???

Dan, As long as you own the company, the structure does not really matter. If it is a "C" corp, the corporation will pay less taxes. If it is an "S" corp, or an LLC, the bottom line income of the company will flow through to you and be taxed at your personal tax rate. Therefore, any savings to the company will also result in less taxes. Either way, you win.

It is more complicated than this, though. There are also things to consider when you sell the vehicle. In order for the transaction to be "closed out" on your books, you need to sell the vehicle at some point. If you merely trade it in, the book value is rolled over into the new vehicle and is calculated in it's cost basis. If you do sell it outright and the sale is for more than book value, you will create additional tax liability. Just be careful how you handle th whole transaction and discuss it with an accountant before hand. You won't want surprises.