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Started By
Message
What to do with extra car.
Posted on 10/11/17 at 5:01 pm
Posted on 10/11/17 at 5:01 pm
(no message)
This post was edited on 2/11/19 at 12:05 am
12
Posted on 10/11/17 at 6:33 pm to TigerGrad2011
I wouldn't pay insurance and maintenance on a car that I don't drive. It's just going to sit there and lose value.
If you drive it, keep it.
If you drive it, keep it.
Posted on 10/11/17 at 6:39 pm to TigerGrad2011
How old will the paid off car be? If it's still worth something I'd probably sell it. If not, and it doesn't need much I might keep it.
For me, having an extra car was a money pit. 4 more tires, 5 more quarts of oil, insurance, parts, etc.
For me, having an extra car was a money pit. 4 more tires, 5 more quarts of oil, insurance, parts, etc.
Posted on 10/11/17 at 7:19 pm to TigerGrad2011
What's the personal use policy for both the company cars? What about vacations, road trip to a game, etc.
Posted on 10/11/17 at 7:32 pm to TigerGrad2011
Sell it
Posted on 10/11/17 at 8:13 pm to weadjust
(no message)
This post was edited on 2/11/19 at 12:04 am
Posted on 10/11/17 at 9:33 pm to 3deadtrolls
quote:
For me, having an extra car was a money pit. 4 more tires, 5 more quarts of oil, insurance, parts, etc.
not me. love having a 3rd vehicle. cheap liability insurance and many times we have needed it when other vehicles were getting serviced, etc.
Posted on 10/12/17 at 6:29 am to TigerGrad2011
quote:
it is probably smart to save the "maintenance" money to put towards another car in the event we need a second car.
This is where I would lean. Get rid of the depreciating asset that is not providing value.
Last poster brings up a good point about service. Does your company have a deal to obtain a loaner in case your car ever needs extended service?
How often will you and your wife receive upgrades to the vehicles?
Have either of you tried negotiating for a vehicle allowance instead of a company car?
This post was edited on 10/12/17 at 6:30 am
Posted on 10/12/17 at 7:49 am to TigerGrad2011
Unless it serves a specific need(eg, truck to pull a trailer) I'd get rid of it. We have an extra car right now because my wife just got a company car. We'd get rid of it if I could decide which one I want to keep. My head says one, and the heart says the other.
Posted on 10/12/17 at 8:16 am to The Spleen
We had one for a while, and it came in handy every now and then. Keeping it on my insurance, since it was an older car and paid off, only added like $100 or so to my plan every 6 months, so it really wasn’t that big of a deal to keep it around. Eventually I decided if I was going to have a 3rd car I might as well get something that gives me a different “use” and so I sold it and bought a used truck with the cash. And now I use the truck quite a bit for stuff I never could do before.
Posted on 10/12/17 at 9:03 am to TigerGrad2011
My wife is in a profession that provides a car or reimbursement, but is somewhat volatile. There is some value to not having to buy a car in the event of a layoff or move to another company. I'm learning this as we just bought a car and there's a possibility of one being provided instead of a reimbursement as was expected.
Posted on 10/12/17 at 9:23 am to Fat Bastard
quote:
love having a 3rd vehicle. cheap liability insurance and many times we have needed it when other vehicles were getting serviced, etc.
Plus my third vehicle I love so I doubt I'll ever get rid of it
Posted on 10/12/17 at 9:29 am to TigerGrad2011
when I got my company car I sold my paid off truck.
Huge mistake. Never know when you will need it.
Huge mistake. Never know when you will need it.
Posted on 10/12/17 at 1:07 pm to TigerGrad2011
What sort of jobs do all of y'all have that have company cars? If you don't mind my asking...sales?
Posted on 10/12/17 at 1:12 pm to OceanMan
My wife's a health care administrator assigned to 5 clinics all about 30-40 minutes apart. She put 25,000 miles on her car from January through August of this year, and I told her she needed to demand a car or car allowance if they were going to expect her to drive that much. They bought her a Ford Escape the next day.
Posted on 10/12/17 at 1:48 pm to The Spleen
I have a 3rd vehicle. It's an old GMC truck that I use for hunting and yard work. I paid 6k cash for it and only carry liability insurance. I change the oil once a year. If it's worth more than 10k I'd sell it. If it's a truck or something that comes in handy once and a while then keep it. If it's basically the same as the company vehicle then I'd sell it. You won't drive it very much. I put <5k miles a year on my truck. It's just too convenient to get in the company car bc sunglasses, checkbook all your personal setup is in that car you use everyday.
Posted on 10/12/17 at 9:59 pm to The Spleen
(no message)
This post was edited on 2/11/19 at 12:04 am
Posted on 10/13/17 at 9:21 pm to TigerGrad2011
What happens if you take your wife out for dinner in the company car and you have one glass of wine. You get in a wreck (not your fault) but they still make you take a breathelizer test. You blow under the limit, but still some alcohol in your system. Any repurcussions?
Posted on 10/13/17 at 9:46 pm to TigerGrad2011
The only answer is based on the vehicles value.
If it is worth $5,000 then keep it.
If it is worth $15,000 you need to sell it and save the money on a separate account for when you have to buy a car in the future.
If it is worth $5,000 then keep it.
If it is worth $15,000 you need to sell it and save the money on a separate account for when you have to buy a car in the future.
Posted on 10/14/17 at 6:31 am to TigerGrad2011
Are you allowed to use company cars for all personal use?
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