Hello,

First, make a Fixed Asset for the vehicle in 1-7 General Ledger Accounts.

Then, make a Long Term Liability for vehicle in 1-7.

Finally, enter a journal transaction that DEBITS the Fixed Asset vehicle account and CREDITS the Long Term Liability vehicle.

This will show the vehicle as an asset that you can then depreciate, and give you a liability to pay down monthly.

Hope this helps.

Cordially,
Aaron A.

Or you can use one account for all vehicles and subaccounts for the individual vehicles.  Just be sure to use the same subaccount numbers for the loans in the liability account.  This will keep your GL list more manageable, and allow you to set the default account for the vendor when you have the same lender for multiple vehicles.

I love using subaccounts for all my fixed asset categories