$800 company car allowance: X MR interest
Jul 9, 2009, 09:45 AM
#17
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Making blanket statements doesn't make you look smart. It depends on who you work for and the situation. Not all employers give you an allowance that you can "spend on whatever you want". An allowance for travel expenses and an allowance for company transportation aren't nearly the same thing. If the OP explains the situation it will put things into perspective.
Jul 9, 2009, 01:37 PM
#23
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Of course they will; but realistically if he gets an MR or any car in the mid-30's range and drives an average amount, he's not going to have much to pocket anyway 
MR at 0% for $35,000 otd is $583.00/mo.
If he drives 15,000 miles a year @ 20 mpg he burns 750 gallons @ $2.90 for 93 octane for a total of $2175 or $181/mo.
He has to pay insurance which for most "allowance vehicles" means he has to carry maximum liability, so say it costs him $900 a year for insurance so that's another $75/mo.
Oil changes/tires/wear and tear maybe .05/mile so another $60 or so a month...
Add it all up and an he's upside down on the allowance, and best case maybe breaks even with the difference between total reimbursement vs. IRS deduction.
As others have mentioned, drive what you already own or get something cheap
MR at 0% for $35,000 otd is $583.00/mo.
If he drives 15,000 miles a year @ 20 mpg he burns 750 gallons @ $2.90 for 93 octane for a total of $2175 or $181/mo.
He has to pay insurance which for most "allowance vehicles" means he has to carry maximum liability, so say it costs him $900 a year for insurance so that's another $75/mo.
Oil changes/tires/wear and tear maybe .05/mile so another $60 or so a month...
Add it all up and an he's upside down on the allowance, and best case maybe breaks even with the difference between total reimbursement vs. IRS deduction.
As others have mentioned, drive what you already own or get something cheap
Jul 9, 2009, 02:19 PM
#24
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if you are buying, 800 dollars a month can probably afford a 335 and you have to pay for the insurance...
try to find a good deal on leasing one of these. new E or smaller 5 series.
pretty sure 800 dollars will cover them.
by the way, an evo for a company car is probably the worst idea ever..
try to find a good deal on leasing one of these. new E or smaller 5 series.
pretty sure 800 dollars will cover them.
by the way, an evo for a company car is probably the worst idea ever..
Jul 9, 2009, 03:17 PM
#26
Thanks for comments from most of you. I agree 'goofygrin' the 335i is a car I am considering. Actually, the 135i. Of course I will read, just reaching out to the EVO forum B4 getting started.
Adambl03- where is ur EVO love for another EVO fan?
My general feeling from these posts is dismal to say the least abot EVO purchase. Where did all the passion go for the ultimate AWD car??????? Quite surprised from most comments.
I don't entertain clients in company car, So sacraficing some posh interior to afford a rally car & drive hard is fine by me.
I do like the savings tips..... But you only live once.
Adambl03- where is ur EVO love for another EVO fan?
My general feeling from these posts is dismal to say the least abot EVO purchase. Where did all the passion go for the ultimate AWD car??????? Quite surprised from most comments.
I don't entertain clients in company car, So sacraficing some posh interior to afford a rally car & drive hard is fine by me.
I do like the savings tips..... But you only live once.
Jul 9, 2009, 03:26 PM
#27
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I'm sure the Op just wants a x and what better time to get it then when your getting $800 allowance, I'm sure he doesn't care if he ends up a bit upside down
we all totally end up upside down buying them with out an allowance!
we all totally end up upside down buying them with out an allowance!
Jul 9, 2009, 04:13 PM
#28
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Came from owning two 2005+ BMWs, and I have to say, I'm not going back... I'm not impressed by the quality anymore. I also saw a recent post here that 3 EvoXs made the top 1-2-3 finish in an Aussie production car (all stock) 12-hour endurance race... specifically beat the 335i (6th place?). Goes to show how durable the Xs are, if driven properly.
Jul 9, 2009, 04:25 PM
#29
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too bad its gonna be a couple of years till the 555 hp x5 m and x6 m come out... Prolly be a lilttle out past the 800 month too, but with a 555hp v8 twin turbo I wouldn't mind making up the difference.
Jul 9, 2009, 04:29 PM
#30
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another plus with the bimmers is that you get free maintenance for 4 years 50k I think...
Given that the 335i sounds pretty good
also forgot to mention the new cadialac cts-v with the detuned zr1 motor, for what 65k faster than a m3 and a m5 but yet again it will probably cost you out of pocket depending on how many years you can get financed for.
Given that the 335i sounds pretty good
also forgot to mention the new cadialac cts-v with the detuned zr1 motor, for what 65k faster than a m3 and a m5 but yet again it will probably cost you out of pocket depending on how many years you can get financed for.