Thank you for your response Rustler. The vehicle is a personal asset, but is being contributed by the owner of the LLC, so I'd think that it does have something to do with the business. After all, we account for other contributions made by the owners.
In an other article, I read that in the case of an owner contributing a personal vehicle as trade-in, we would consider the value of the trade-in an Owner's Contribution. I don't know if it's correct, but it does make logical sense.
In this case though, with both an asset and a liability being contributed by the owner, I'm wondering if that'd be different.
