Yes, you can. You will need to write and sign a corporate resolution stating that the S Corporation is responsible for all payments and operating expenses for the vehicle, and that it is in the owner's name only because the corporation could not get financing. However, if you drive the vehicle personally, you must add an amount to your W-2 for the taxable fringe benefit. There are three methods to choose from to calculate the amount, but most use the standard mileage rate multiplied by the number of personal miles driven.
