Posted by
Message
TigerGrad2011
Member since Aug 2016
473 posts

What to do with extra car.
My wife has a company car and I will have one very soon. I will have a paid off vehicle that is reliable once I get my new company car. What are the thoughts on keeping the extra car without a note but having to pay for insurance and maintenance or selling the paid off vehicle and not worrying about it?


DownSouthDave
USA Fan
Walker
Member since Jan 2013
6649 posts

re: What to do with extra car.
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.


Replies (0)
Replies (0)
10
3deadtrolls
New Orleans Saints Fan
Lafayette, Baw!
Member since Jan 2014
3085 posts

re: What to do with extra car.
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.


weadjust
Member since Aug 2012
6419 posts

re: What to do with extra car.
What's the personal use policy for both the company cars? What about vacations, road trip to a game, etc.



CorkSoaker
LSU Fan
Member since Oct 2008
8920 posts

re: What to do with extra car.
Sell it


Replies (0)
Replies (0)
00
TigerGrad2011
Member since Aug 2016
473 posts

re: What to do with extra car.
We can use both company cars as needed personally. My concern is in the even someone loses a job and then we have to go buy another car.

I'm assuming at that point it is probably smart to save the "maintenance" money to put towards another car in the event we need a second car.


Fat Bastard
Boston College Fan
Paradise
Member since Mar 2009
35377 posts

re: What to do with extra car.
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.


seawolf06
LSU Fan
Raleigh, NC
Member since Oct 2007
6626 posts

re: What to do with extra car.
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 at 6:30 am


Replies (0)
Replies (0)
10
The Spleen
Alabama Fan
Member since Dec 2010
22307 posts

re: What to do with extra car.
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.


Htown Tiger
LSU Fan
Houston
Member since Sep 2005
2187 posts

re: What to do with extra car.
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.


Replies (0)
Replies (0)
00
whatshisface
LSU Fan
Westside
Member since Jun 2012
93 posts

re: What to do with extra car.
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.


Replies (0)
Replies (0)
00
Motorboat
LSU Fan
At the camp
Member since Oct 2007
18106 posts

re: What to do with extra car.
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


Replies (0)
Replies (0)
00
Retrograde
LSU Fan
TX
Member since Jul 2014
2150 posts

re: What to do with extra car.
when I got my company car I sold my paid off truck.

Huge mistake. Never know when you will need it.


Replies (0)
Replies (0)
00
OceanMan
LSU Fan
Member since Mar 2010
10459 posts

re: What to do with extra car.
What sort of jobs do all of y'all have that have company cars? If you don't mind my asking...sales?


The Spleen
Alabama Fan
Member since Dec 2010
22307 posts

re: What to do with extra car.
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.


tigereye58
LSU Fan
Member since Jan 2007
1891 posts

re: What to do with extra car.
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.


Replies (0)
Replies (0)
00
TigerGrad2011
Member since Aug 2016
473 posts

re: What to do with extra car.
It's a Tahoe with what will be extremely high miles when I get the company car. Now I'm back to leaning on keeping it on hand if the expense is not that great.


Replies (0)
Replies (0)
00
Ric Flair
LSU Fan
Charlotte
Member since Oct 2005
9594 posts

re: What to do with extra car.
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?


Replies (0)
Replies (0)
00
SECdragonmaster
Auburn Fan
Newest member of team Bunchie!
Member since Dec 2013
7356 posts

re: What to do with extra car.
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.


Replies (0)
Replies (0)
00
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
50681 posts

re: What to do with extra car.
Are you allowed to use company cars for all personal use?


Replies (0)
Replies (0)
00
first pageprev pagePage 1 of 2next pagelast page

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram