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Shotgun Willie
Member since Apr 2016
1488 posts

Car Allowance - Purchase or Lease?
What would you do if you had a $10,000 a year car allowance? I'm assuming taxes will be taken out of the allowance also. Never have leased a car, always paid for them, but trying to decide if it would be beneficial to just lease one. Won't be driven a ton, for instance wife's current 2012 Highlander only has 78K miles on it.
This post was edited on 1/14 at 10:00 am


JohnDoe00
LSU Fan
Dallas, TX
Member since Feb 2019
343 posts

re: Car Allowance - Purchase or Lease?
Keep what you have and profit.


bayou choupique
LSU Fan
the banks of bayou choupique
Member since Oct 2014
1302 posts

re: Car Allowance - Purchase or Lease?
dont lease it. as the other poster mentioned profit off of the allowance.


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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
2227 posts

re: Car Allowance - Purchase or Lease?
What are the rules for the vehicle allowance? Is it just a flat bonus, effectively increasing your salary?

Many allowances require the vehicle to fewer than X miles, be less than 3-5 years old, etc. Depending on the restrictions, it may make sense to lease it. If there’s no restrictions, just keep what you have if it’s reliable.


eng08
LSU Fan
Member since Jan 2013
4129 posts

re: Car Allowance - Purchase or Lease?
Yeah, but if your car looks nice - do they actually enforce those? Not that I’ve seen. Put the $ in the bank.


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LSUfan20005
LSU Fan
Member since Sep 2012
6136 posts

re: Car Allowance - Purchase or Lease?
I’ve never had any terms with a car allowance, it’s simply a perk that the company doesn’t have to layer annual raises on. It’s a separate line on my pay stub.

Personally, I’d buy. You’ll have an owned asset within a few years and then can pocket going forward.


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