Thoughts on a company car under $30k?

[Rolling_trip]

So….the IRS is changing the way companies are able to supply company cars to their remote employees. The way it has been for the last 11 yrs, we pick from 3 or 4 car models(Equinox for me), given a fuel card that takes care of maintenance and fuel, insurance and registration paid by fleet company. When the car hits around 70k miles, we would order a new car and swap them out. We would pay at the end of the year based on how much we used it personally, typically 10-15%. I can pretty easily put 30-40k a year on the car, have done 50k.

Now the program gives us a fixed amount, that is taxed as income, but will pay us mileage. We are now responsible for purchasing or leasing our own vehicle, all related fees, and insurance. There are some additional things like them paying for glass replacement or insurance deductible if in an accident.

I‘m currently looking purchasing a subcompact SUV’s. I honestly think I can pay it off within 2 yrs, bank the allowances the third year, so allow for a better vehicle during the 4th year……then repeat. Anyone currently in this situation? Or have any advice?

Due to the warranty, and the amount of miles I will be putting on it, ive narrowed it down to these few.

1. Kia Seltos S
2. Hyundai Kona
3. Toyota Cross
4. Mazda C30

Thoughts? I’ve driven the Kona, but the trunk is tiny. I hope to go look at the Seltos tomorrow, which claims 7 more cubes of space.

 

[BobbyJack]

Kia has bad motors. Hyundai is junk.
Mazda? Seriously is this the 1980’s again?

why is Honda not on the list? Honda Civic are great commuter and fleet vehicles.

 

[Ledslinger]

I like those Mazda CX30’s
just the looks I guess

 

[Cadcom]

Have you looked at any of the car rental used fleets for sale? If you are just going to rack up miles and turn and burn these vehicles it may be an option. And they have Equinoxesses listed!

https://www.enterprisecarsales.com/list/buy-a-car/price---25000/vehicle-type-Sport_Utility/vehicle-type-SUV_-slash-_Crossover/?zipcode=30114

 

[Rolling_trip]

Kia has bad motors. Hyundai is junk.
Mazda? Seriously is this the 1980’s again?

why is Honda not on the list? Honda Civic are great commuter and fleet vehicles.

The Honda HR V has horrible reviews, which surprised me. Civics are way to small for what I need. We had a 2010 Sorento that got traded in with 120k, in 2020. We had zero problems with it, besides one alternator. The wife bought a 2019 Sportage SX with 30k and have only had to put tires and change the oil.

 

[Hayata]

Mazda.

Still made in Japan.

Like the old days.

Money in the bank.

 

[Tikker]

Toyota is a solid company, my wife loves her RAV4.

Check out this guy's channel, he is a Toyota master technician discusses what's good & bad on these vehicles.

 

[Fear Itself]

Subaru my friend!

 

[Tikker]

Subaru my friend!

CVT transmissions and scheduled head gasket replacement kept me from buying one.

 

[wc123]

I've pretty much only had Toyotas for the last 16 yrs, but a few years ago got a great deal on a Hyundai santa fe from a family member who was going to trade it in for a new one. I've been very pleased with it...it's a much nicer car than my Rav4, and has had way fewer issues in the first 120k.