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Vehicle Allowance
Posted on 5/21/15 at 10:03 am
Posted on 5/21/15 at 10:03 am
I receive 450$ a month after taxes for vehicle allowance plus a fuel card
I put about 1200 miles a month on my Toyota SUV.
Its a 2012 with 50k miles , and I owe 17,700 currently. Note is 290 a month. Should I double up payments ? I've been just saving the allowance money to put toward maintenance / down payment when its time to trade in..
Do you people with allowances trade in every few years, or drive until the wheels fall off ?
I put about 1200 miles a month on my Toyota SUV.
Its a 2012 with 50k miles , and I owe 17,700 currently. Note is 290 a month. Should I double up payments ? I've been just saving the allowance money to put toward maintenance / down payment when its time to trade in..
Do you people with allowances trade in every few years, or drive until the wheels fall off ?
2
Posted on 5/21/15 at 10:06 am to BearCrocs
quote:
Do you people with allowances trade in every few years, or drive until the wheels fall off ?
Why would you do anything other than drive it to your wheels fall off. You can put savings every year towards a personal car if you wanted a new one
Posted on 5/21/15 at 11:46 am to BearCrocs
quote:
I've been just saving the allowance money to put toward maintenance / down payment when its time to trade in..
I do this and
quote:
drive until the wheels fall off
this.
Posted on 5/21/15 at 1:09 pm to NewIberiaHaircut
How do I write the depeciation off come tax season ?
Posted on 5/21/15 at 8:47 pm to BearCrocs
I track my daily mileage for work and for personal and use turbo tax to claim the depreciation. Please note that I'm not a financial or tax expert.
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