Thoughts on a company car under $30k?

[Rolling_trip]

Finally got the notification of action to buy a car. Found this 2020 RAV4 with 19k XLE loaded with options and with the certified 100k warranty. Boy things sure have changed since the last time I bought a car….. I feel like I got a fair deal. Thanks for all the recommendations and the suggestion of the RAV4.

 

[10thmountain]

I have 2019 rav 4! I dig it!

 

[Granite3]

Congrats!

 

[Tikker]

Good color choice, I wish I had gone with white as well, ended up with the dark gray.

 

[Sowega86]

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.

If you have to purchase the vehicle for company use, you may have to carry auto insurance at a commercial rate since it's mostly for work.

 

[NewLeaf]

Finally got the notification of action to buy a car. Found this 2020 RAV4 with 19k XLE loaded with options and with the certified 100k warranty. Boy things sure have changed since the last time I bought a car….. I feel like I got a fair deal. Thanks for all the recommendations and the suggestion of the RAV4. View attachment 5517207

Congratulations Man. They’ve made’em a little bigger over the years. Like I said before… when my wife wears out her ‘09 Venza we’re getting a RAV4. 6’4” 270lb dude fits in the front and back seats lol. We haven’t been able to beat a Toyota. My oldest girl got a 2016 Corolla new and if anybody can break a car , she can, but rockinOn knockOnWood. NICE!!! Here’s ours (270k miles) , she loves it.

 

[Rolling_trip]

If you have to purchase the vehicle for company use, you may have to carry auto insurance at a commercial rate since it's mostly for work.

Bingo…..and it sucks

 

[Rolling_trip]

Well I wanted to fix a couple things that bugged me about the RAV4, like interior lighting, find some heavy duty mats, window deflectors, window tint, ….etc. I might have fallen down a rabbit hole, but I’m done besides getting one of my customers to powdercoat my wheels a satin black…….I think. I’ve put on almost 5k miles and it’s been great. I’ve been as far as Port St Lucie, FL and it has kept between 31-32 mpg average. Considering that I haul around probably 300lbs of stuff in the back of the car, not sure I could ask for more. Going for the first oil change tomorrow morning.