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Company car vs car allowance

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Car allowance all day long!!! I've been with Genentech for 11 years and have owned about 9 different cars over that time frame. I buy a car worth $10-$12 grand (4-5 year old Camry, accord, lexus) with around 75k miles on it already. I drive it for about a year and put about 25,000 miles on it, collect $13,000 in mileage money, plus the monthly car allowance and then sell the car a year later for around $8000. If you can't figure out how to make the car allowance/mileage program a cash cow, you need to go back to basic business school.
 






anonymous said:
Car allowance all day long!!! I've been with Genentech for 11 years and have owned about 9 different cars over that time frame. I buy a car worth $10-$12 grand (4-5 year old Camry, accord, lexus) with around 75k miles on it already. I drive it for about a year and put about 25,000 miles on it, collect $13,000 in mileage money, plus the monthly car allowance and then sell the car a year later for around $8000. If you can't figure out how to make the car allowance/mileage program a cash cow, you need to go back to basic business school.
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Agree with your post, the key is to buy a used "camry,lexus,accord" as you have. Never buy a German high mileage ride unless you want to use all your bonus $'s on repairs!
However, newer pansy millineal reps are all about status. They will live in a sample storage unit so long as they can be seen driving a Tesla p100d with ludicrous mode.
I bought a stripped down Nissan Versa with hubcaps. Just picked up a used 2016 with 15k miles for 13.5k. Extra $$ goes in my wallet. Only thing I had to do was remove the "Clinton for President 2016" bumper sticker.
 


















My company is thinking of switching to allowance. I did the math and it's going to suck. They want to pay us $600 and it's fully taxable. No fuel card or anything else. With that amount, after tax, am I supposed to buy a bike? Time to go.
 






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