got a job offer and need help

[stormrider]

deciding on vehicle choice. They will provide a new vehicle but I have to pay $250 a month for unlimited personal use or if I use my vehicle, it has to be rated a 17 city/ 24 highway and they pay me $500 a month. I would have to buy something different to get that kind of mileage. Gas card comes with both choices. Lots of miles to cover each month. So, what's a fellow to do?

I'm thinking to use their vehicle even though I have to pay, that way if it doesn't work out in 6 months I'm not stuck with a payment.

[R J]

Ya always want to take the company vehicle.   They pay insurance usually, maintneance, tires and etc.

[Brad]

Ya always want to take the company vehicle.   They pay insurance usually, maintneance, tires and etc.

+1

[JimL]

If it were me I would not get into a car payment for the reason you stated earlier....if things don't work out, you don't want to be stuck paying for a vehicle.  I would ask if I could start out using their vehicle and if see if it would be possible to change 6 months or a year down the road?

[Tundra]

+1 use their vehicle, paying $250.00 per month you still come out ahead (maint. & Insurance) I was spending $500.00-$600.00 per month for fuel alone with my old job. (my wife and I combined fuel bill)

[Jabba]

Yep.  Use theirs...  They pay insurance, maintenance and depreciation.  You pay $250 and still get to use it.

Does that $250 cover your personal use gas too?  Hell, that's WORTH it right there.

It would be for MY family anyway.

Jabba

[Michael K (Az.)]

"Take that truck and drive it! You be workin there some more!"
(Apologies to Johnny Paycheck)

[Chrisj CMA]

Use the company truck 

[vanagon40]

Stormrider,

I do not understand how the previous seven posters can recommend the company car without more information.

I would need to know how many company miles you plan to drive each year (or month) and how many personal miles you will drive.

You state: "Gas card comes with both choices."  Does the gas card pay for personal miles on the company car? Personal car?

How likely is it that you will be at this job in six months?  Two years?

How much is your insurance for a new car?  Do you have teenage drivers at home that will make insurance cost prohibitive?

What are your finances?  If you purchased a new car and did not have the job in six months, could you afford the loss you would suffer by being upside down on your car loan?

What kind of car is the company providing?  What kind of car would you buy?

If you opt to purchase your own car, you have in essence, $750 per month to "invest" in the car (the $250 you would pay for the company car plus the $500 the company is paying you.)  You can probably pay for a decent car, insurance, maintenance, etc., at $750 a month and have the car paid for in two to three years.  At that point, you might have several thousand dollars in equity in your own car that you would not have paying $250/month for a company car.

With all due respect to the previous posters, you have not provided sufficient information for anyone to provide an intelligent and informed response to your question.

(In the event I fail to respond to this post in the future; if you opt to purchase your own car, make sure you have either insurance coverage through your employer or the appropriate endorsement on your personal insurance policy.  Most individual policies specifically exclude coverage for business use.)

[vanagon40]

Ya always want to take the company vehicle.   They pay insurance usually, maintneance, tires and etc.

So if the company said the company vehicle would cost $1000 per month, or the company would pay the employee $1000 per month to use his own vehicle, you would recommend the company vehicle?

What is the route was 10 miles each day?

[vanagon40]

+1 use their vehicle, paying $250.00 per month you still come out ahead (maint. & Insurance) I was spending $500.00-$600.00 per month for fuel alone with my old job. (my wife and I combined fuel bill)

He said the company vehicle came with a gas card.  So what does the cost of fuel have to do with the decision?

It is unclear whether fuel is included in the personal miles.

[vanagon40]

Please understand that I am not advocating that stormrider refuse the company vehicle and use his own vehicle.  I just do not believe there is sufficient information to make an intelligent decision.

I could not possibly make a recommendation on the information provided.

[stormrider]

Well, I just sent in the acceptance offer and took the company vehicle. It covers all personal use, even if I want to go on vacation on it. And pretty lenient on fuel usage. Around town and most trips they'll pay for gas. If on vacation, I pay, but, heck, it beats putting more miles on mine. And it gets 34 to the highway. Almost as good as the Valk. I can opt out of the leased vehicle later on and use my own but will give it some time or save the dough to pay cash for one. Using my own, I would have to count the $500 a month stipend as income but can expense out the mileage (I think).

BTW, thanks for all the suggestions. Just what I needed. I have been self-employed for over 30 years so working a "regular" job has more choices than what I used to dealing with.

[..]

Well, I just sent in the acceptance offer and took the company vehicle. It covers all personal use, even if I want to go on vacation on it. And pretty lenient on fuel usage. Around town and most trips they'll pay for gas. If on vacation, I pay, but, heck, it beats putting more miles on mine. And it gets 34 to the highway. Almost as good as the Valk. I can opt out of the leased vehicle later on and use my own but will give it some time or save the dough to pay cash for one. Using my own, I would have to count the $500 a month stipend as income but can expense out the mileage (I think).

BTW, thanks for all the suggestions. Just what I needed. I have been self-employed for over 30 years so working a "regular" job has more choices than what I used to dealing with.

Please, please make sure you get a complete description of the insurance cover you will have for private use. Make sure that anyone as a passenger is covered. I could write more - just make sure you read every word.

Congratulations on the job.

[CamTom12]

Congrats!

[stormrider]

Well, I just sent in the acceptance offer and took the company vehicle. It covers all personal use, even if I want to go on vacation on it. And pretty lenient on fuel usage. Around town and most trips they'll pay for gas. If on vacation, I pay, but, heck, it beats putting more miles on mine. And it gets 34 to the highway. Almost as good as the Valk. I can opt out of the leased vehicle later on and use my own but will give it some time or save the dough to pay cash for one. Using my own, I would have to count the $500 a month stipend as income but can expense out the mileage (I think).

BTW, thanks for all the suggestions. Just what I needed. I have been self-employed for over 30 years so working a "regular" job has more choices than what I used to dealing with.

Please, please make sure you get a complete description of the insurance cover you will have for private use. Make sure that anyone as a passenger is covered. I could write more - just make sure you read every word.

Congratulations on the job.

Thanks Paul. I was wondering if it would cover Anita if we were off on vacation and she needed to drive.