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I'll have to throw in a couple tickets either way I guess (thought)
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I'll have to throw in a couple tickets either way I guess (thought)
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typically yes. it actually was up to $.55 or $.58 back in 08 but dropped with gas prices.
as gas prices go up does the mileage reimbursement go up to match?
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Good Point. The downside there is I take a beating on the depreciation now though. She's an 08.5 GT with 21k on the ODO. Now it's a matter of what it's going to bring in this market as a private seller. Dealers are asking $17-$20k but as a private seller I won't get $20k.
So let's say I walk with $17k now and take the company car. Is that better than having fun in my car for the next two years and clearing roughly $14k tax free on top of still owning it at that point only now with 60k on the ODO.
Just quickly looking at it, to me it's still better to use my car, clear the cash and have a 4yr old MS3 with 60k on the ODO to sell at that point.
My initial inclination is to wait 2 yrs, bank up the $14k plus nearly $8k I have now in a new car fund and then sell the 4yr old car for whatever....and then buy my toy as I then at that point take a company car.
Hmmnn...
So let's say I walk with $17k now and take the company car. Is that better than having fun in my car for the next two years and clearing roughly $14k tax free on top of still owning it at that point only now with 60k on the ODO.
Just quickly looking at it, to me it's still better to use my car, clear the cash and have a 4yr old MS3 with 60k on the ODO to sell at that point.
My initial inclination is to wait 2 yrs, bank up the $14k plus nearly $8k I have now in a new car fund and then sell the 4yr old car for whatever....and then buy my toy as I then at that point take a company car.
Hmmnn...
why not take the company car, sell the MS3 today and get a dedicated fun car (vette, elise, etc...)?
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I don't find the routine maint. expensive here in the states? What examples of issues are you thinking of for the Speed 3 ?
If you don't have to put miles on your MS3... DON'T. It's a simple as that. It's not a cheap car to fix and maintain. Any money you make per mile isn't worth it.
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Yes...the cool/fun factor of driving my MS3 is what I meant in the above posts about one downside of the company car. Heck, I drove a Saturn Vue and Chrysler Minivan as a co. car for 3-4 years at my previous job and hated leaving the GXP and GTO in the garage like that.
Traffic wise....doesn't bother me a bit. OH, IN, MI hardly anything I'd call 'traffic' Besides, shifting is second nature to me. Even my GXP which was an Auto with tap shift never got used as an automatic.
Traffic wise....doesn't bother me a bit. OH, IN, MI hardly anything I'd call 'traffic' Besides, shifting is second nature to me. Even my GXP which was an Auto with tap shift never got used as an automatic.
Did you ever think about the cool factor? i'm just saying . . .
Also, though we all love our cars, wouldn't a automatic be easier and less strenuous in traffic?
well hey, it sounds like everything that has been thrown at you has already been solved with a solution and abviously the "fun/cool" factor is going to be a big part cause you want to enjoy it. so drive the MS3. it'll treat you right and even though there are the risks of having to do repairs in the future, it sounds like the extra gas cost or rewards will make up for that plus some. So it sounds like the MS3 is what is going to work best for you personally. Do it son
thepope540
Member
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- 2003.5 Yellow Speed - Sold, Spicy - Sold, #639 Black Mica
Skip the company car. Enjoy the MS3 as a great DD and bank the money that doesn't go toward upkeep. Its an affordable, fun to drive car - like you said - its not a collectable and won't be.
squidmotion
Member
i agree with skipping the co. car....
if the car is paid off, and isn't costing you a monthly, make it pay you back!!! why not? i mean, if you wanted to keep it pristine, in the garage, and just put tiny miles on it, and keep it forever, mod the hell out of it, etc. then maybe it wouldn't be right for the long hauls, but otherwise, i think it would work our pretty well.....
i would not, however, buy my zo6 (or whatever) on the money i was making off the ms3. i'd probably set myself up a little cu account, and put the earnings from the car there..... for use in repairs, maint., and tires, etc. and just ride it out... as soon as the 2 years were up, or the car started giving me any reason to not trust it out on the road..... then there you are...
if you kept it together, and treated it well, then you could have a good bit of cash, as a down payment, and you could either keep the ms3, or let it go.... miles or not, these things will always have a value, i bet.
hell, i'd do it. the ms3 is a hoot of a road car, and pretty versatile. don't think of it as 'putting miles on my baby'... think of it as 'my baby paying me back for being so good to her when i was paying that note'
if the car is paid off, and isn't costing you a monthly, make it pay you back!!! why not? i mean, if you wanted to keep it pristine, in the garage, and just put tiny miles on it, and keep it forever, mod the hell out of it, etc. then maybe it wouldn't be right for the long hauls, but otherwise, i think it would work our pretty well.....
i would not, however, buy my zo6 (or whatever) on the money i was making off the ms3. i'd probably set myself up a little cu account, and put the earnings from the car there..... for use in repairs, maint., and tires, etc. and just ride it out... as soon as the 2 years were up, or the car started giving me any reason to not trust it out on the road..... then there you are...
if you kept it together, and treated it well, then you could have a good bit of cash, as a down payment, and you could either keep the ms3, or let it go.... miles or not, these things will always have a value, i bet.
hell, i'd do it. the ms3 is a hoot of a road car, and pretty versatile. don't think of it as 'putting miles on my baby'... think of it as 'my baby paying me back for being so good to her when i was paying that note'
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79_Limited
Member
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- 2006 Madza 3 Hatchback
I just ran a spreadsheet the other day and my Speed is running roughly about $ .55 - $ .60 for all expenses. Do the company car and keep the speed for weekends.
Be sure to bump your insurance down to less than 5k miles a year to save more $$$ if that is all the mileage you will do.
Be sure to bump your insurance down to less than 5k miles a year to save more $$$ if that is all the mileage you will do.
BillTheCat
Member
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- 2009 Mazdaspeed3 Sport
I just ran a spreadsheet the other day and my Speed is running roughly about $ .55 - $ .60 for all expenses. Do the company car and keep the speed for weekends.
Be sure to bump your insurance down to less than 5k miles a year to save more $$$ if that is all the mileage you will do.
In my mind, since the MS3 is paid for, this is actually reason enough to skip the company car. As the OP has stated, the MS3 is not a serious collector's car. Keeping it pristine will only help retain so much value over time. If the trade-off of driving the Equinox for 2 years is that he gains $1-2k in trade-in/resale value, I'd personally skip the drudgery of the Equinox and enjoy the MS3 as a fun DD over that period. All depends on what you want out of the MS3, though.
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that's the route I'm very likely going to go. as it stands, parking the MS3 isn't going to gain me anything. The cost per mile to drive it isn't going to be that high, especially since I've invested the money in new all season tires and a set of snows that I will rotate on there too. cost wise, even if she sat, I'd still have to have insurance...and even at 20k per year, insurance to actually use her is less than $600 per year.
my thought is I'd rather have her make me some money for a couple years, then either continue to drive her until she becomes troublesome or sell her at that point. heck, I could even keep her and park her at that point.
thanks everyone!
my thought is I'd rather have her make me some money for a couple years, then either continue to drive her until she becomes troublesome or sell her at that point. heck, I could even keep her and park her at that point.
thanks everyone!
In my mind, since the MS3 is paid for, this is actually reason enough to skip the company car. As the OP has stated, the MS3 is not a serious collector's car. Keeping it pristine will only help retain so much value over time. If the trade-off of driving the Equinox for 2 years is that he gains $1-2k in trade-in/resale value, I'd personally skip the drudgery of the Equinox and enjoy the MS3 as a fun DD over that period. All depends on what you want out of the MS3, though.
seems like a lot of good points were brought up to use the company car. but a couple other things to possibly consider..... what if you got into a wreck? then you're "fun" dd isn't as fun anymore....what if you get laid off (just an scenario)? then you got a ton of miles and wear on your car. what if you get a speeding ticket cause you're having too much "fun" during work....then insurance goes up/possibly employer discipline. i know you have your mind made up, but those were just some things i thought about that wasn't brought up.
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All good point. Heck, keep them coming. Not just for me but for others too.
To address the below, all of that could happen anyway.
Wreck, I have a great record, but in the end, it's part of life. The MS3 would still be fun.
If I get laid off or change jobs....been there done that....again, life goes on and at least the wear and tear would have yielded $$ in the bank nonetheless.
Ticket....I'm pretty religious about behaving on company time. Call it a product of Panasonic and when I worked there. Get a ticket there and you're not going to be in good shape if it impacts your insurance, car and ability to drive. Companies still do a driver record check to insure you're not a high risk employee. Believe me, the threat of losing a $150k+ job isn't worth it.
Again, all good points.
To address the below, all of that could happen anyway.
Wreck, I have a great record, but in the end, it's part of life. The MS3 would still be fun.
If I get laid off or change jobs....been there done that....again, life goes on and at least the wear and tear would have yielded $$ in the bank nonetheless.
Ticket....I'm pretty religious about behaving on company time. Call it a product of Panasonic and when I worked there. Get a ticket there and you're not going to be in good shape if it impacts your insurance, car and ability to drive. Companies still do a driver record check to insure you're not a high risk employee. Believe me, the threat of losing a $150k+ job isn't worth it.
Again, all good points.
seems like a lot of good points were brought up to use the company car. but a couple other things to possibly consider..... what if you got into a wreck? then you're "fun" dd isn't as fun anymore....what if you get laid off (just an scenario)? then you got a ton of miles and wear on your car. what if you get a speeding ticket cause you're having too much "fun" during work....then insurance goes up/possibly employer discipline. i know you have your mind made up, but those were just some things i thought about that wasn't brought up.
MikeHTally
Member
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- 2008.5 Speed3, 2006 Chrysler 300C, 2003 Ram 1500
You'll likely find $.55/mile is the break-even point. The IRS calculates that stuff pretty closely. You may have to pay income tax on the company car, though.
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