Company Car Options
 

I recently quit my job and will begin a new one on Monday. It looks like I have the following vehicles to choose from for business and personal use. From what I gather, gas is paid for by the company too, so I have basically no incentive to be concerned with fuel economy. A flat amount is deducted from my paycheck to cover personal use.

I'll be driving the extra Dodge Caravan for a few months, and I'm afraid I might end up liking it.

I don't know much about the cars except that I enjoyed my 1996 Subaru Legacy and lean toward that option.



’17 Dodge Grand Caravan SE 7 Passenger Van 3.3L V6

’17 Subaru Legacy Premium AWD 4DR 2.5 X

’17 Jeep Cherokee 4WD 4dr Latitude

’17 Subaru Forester Premium AWD 4DR 2.5 X

’17 Volkswagen Passat 1.8T Limited

’17 Mazda CX-3

’17 Volkswagen Golf SportWagen 1.8T SE

One of the VW's is probably best for regular use and more efficiency.

Skip the Cherokee.

If you're going for personal utility, the van's got space and Forrester's a Legacy hatchback (or was in my Subaru days, I don't know if they've really forked much).

I would take the Legacy, thinking the VWs would spend a lot of time waiting at the dealer for repair.

How are we supposed to choose without knowing the colors? :)

Now I don't even know if I want a company car...

$15 is deducted from my paycheck every 2 weeks to cover my unlimited personal use of the vehicle, including fuel, maintenance, and insurance. That adds up to $780 per year.

My other option is to be compensated to drive my personal vehicle at $0.54 per mile. I'm not sure how many miles I'll be racking up, but assuming 100 per week, I'm looking at getting $2800 per year. I don't spend that much per year on my Prius because I do all my own maintenance. It costs me $0.04 per mile in fuel.

I could buy the upcoming Bolt with 200 miles of EV range, which would likely cover any work travel distance. I'd probably fly for anything further, and I still have my Prius even if I have to drive.

EV is essentially free to drive after you pay for it. At $0.02 per mile in electricity, my only other costs are depreciation, insurance, and tires.

If I get a company car, I'm locked in with a 4 year lease, so I couldn't change my mind easily. I can keep the Caravan until March before I have to decide...

What would you do considering the difference between the 2 decisions might amount to almost $3600. That is, I would have to pay $780 to drive the company vehicle, or make an estimated $2800 to drive my own.

http://i7.photobucket.com/albums/y26...m/IMG_2863.jpg

What will your insurance company charge you "extra" for you using your personal vehicle for company use?

I'd drive your own. Sounds like you'll come out farther ahead that way.

Good question, but likely negligible. I'm only spending about $200/yr for liability.

I'm leaning towards keeping the van until March, and then taking the $0.54/mi reimbursement.

How will you be using the company car?

Do you need to haul things around?
Is it basically a uniform and needs to look a certain way (any sort of branding on it)?
Or is it just a perk and you use it for commuting?

Having someone else pay for a new car that you have no worries about is kinda nice. Maybe try out a few of the options and see if they are worth it. Sometimes the intangible benefits outweigh the tangible costs...

(says the guy who just bought a ridiculous toy to commute in...)

Honestly, if you're going to be using it for business, stick with the minivan. Those things have ungodly amounts of cargo space.

For instance, your Dodge Grand Caravan has:
33 ft^3 behind the seats
143.8 ft^3 without the seats

Compared with a Chevy Tahoe (one of the larger SUVs on the market):
15.3 ft^3 behind the seats
94.7 ft^3 without the seats

Or a Nissan Armada:
16.6 ft^3 behind the seats
95.1 ft^3 without the seats

The Jeep Cherokee:
24.6 ft^3 behind the seats
58.9 ft^3 without the seats, not even close

The Mazda CX-3:
12.4 ft^3 behind the seats
44.5 ft^3 without the seats

Even without having to haul a lot, I would still avoid getting a sedan. And especially not a Volkswagen.