Off Topic question
 

Warning: Off Topic!

This group has been dormant for a while. Here is a bit of an armchair
challenge for all you car enthusiasts:

A friend of mine got a new job, driving to various company facilities
for inspection and problem solving as required. The job means a lot of
time on the road (which he doesn't mind) and staying at motels, and no
home cooking, but hey, it's a job. The company told him they would pay,
subject to approval, 80% of the purchase price and 80% of fuel. (I
think the logic here being that there is always some personal use of a
company car.)

Anyway, we'd like to pick your brains about the ideal car for this job.
The criteria off the top of our heads:

* Comfortable and quiet for hours of highway driving.
* Reasonble gas consumption.
* Not tempting to thieves sitting in a motel parking lot overnight.
* Anything else?

What is NOT required, obviously are 4 doors, 4 seats, lots of trunk
space, high performance, off-road ability, most of the usual stuff that
makes us car nuts.

Love to read your thoughts.

Don

Off Topic question
 

Don Q wrote:

> Anyway, we'd like to pick your brains about the ideal car for this
> job. The criteria off the top of our heads:
>
> * Comfortable and quiet for hours of highway driving.
> * Reasonble gas consumption.
> * Not tempting to thieves sitting in a motel parking lot
> overnight. * Anything else?
>
> What is NOT required, obviously are 4 doors, 4 seats, lots of
> trunk space, high performance, off-road ability, most of the usual
> stuff that makes us car nuts.

Comfortable, decent handling, pretty damn good gas consumption and dead
solid reliable = Lincoln Towncar, believe it or not....

--
XS11E, Killing all posts from Google Groups
The Usenet Improvement Project:
http://twovoyagers.com/improve-usenet.org/

Off Topic question
 

> The company told him they would pay, subject to approval, 80% of the
> purchase price and 80% of fuel.

Trick question. Clearly the answer is "Whatever is the most expensive car
they will go along with". Then quit and sell it. ;)

Freeway or backroads? Mountain or plain?

miker

Off Topic question
 

If I had such an opportunity I certainly wouldn't worry about theft. I'd
just make sure I had enough insurance!

Off Topic question
 

On 2011-01-11 10:23:28 -0500, XS11E > said:

> Don Q wrote:
>
>> Anyway, we'd like to pick your brains about the ideal car for this
>> job. The criteria off the top of our heads:
>>
>> * Comfortable and quiet for hours of highway driving.
>> * Reasonble gas consumption.
>> * Not tempting to thieves sitting in a motel parking lot
>> overnight. * Anything else?
>>
>> What is NOT required, obviously are 4 doors, 4 seats, lots of
>> trunk space, high performance, off-road ability, most of the usual
>> stuff that makes us car nuts.
>
> Comfortable, decent handling, pretty damn good gas consumption and dead
> solid reliable = Lincoln Towncar, believe it or not....

Actually my first thought was an old Lincoln LS.
Glad to know I'm not that far off.
Right now Mark thinks it's too big.

Off Topic question
 

On 2011-01-11 12:46:49 -0500, "miker" > said:

>> The company told him they would pay, subject to approval, 80% of the
>> purchase price and 80% of fuel.
>
> Trick question. Clearly the answer is "Whatever is the most expensive car
> they will go along with". Then quit and sell it. ;)
>
> Freeway or backroads? Mountain or plain?
>
> miker

I am pretty sure there are contingency clauses that prohibit these
games. Anyway, even if you could get away with it, unless you are
immune to the current economy you'll realize that for most of us a long
term job is worth more than a few grand from a shady deal. So a serious
answer to your tongue in cheek...

Good question. I believe almost all paved, ice and snow more often than
gravel and dirt. No mountains, just the odd hill.

Off Topic question
 

On 1/11/2011 3:19 PM, Don Q wrote:
> On 2011-01-11 12:46:49 -0500, "miker" > said:
>
>>> The company told him they would pay, subject to approval, 80% of the
>>> purchase price and 80% of fuel.
>>
>> Trick question. Clearly the answer is "Whatever is the most expensive car
>> they will go along with". Then quit and sell it. ;)
>>
>> Freeway or backroads? Mountain or plain?
>>
>> miker
>
> I am pretty sure there are contingency clauses that prohibit these
> games. Anyway, even if you could get away with it, unless you are immune
> to the current economy you'll realize that for most of us a long term
> job is worth more than a few grand from a shady deal. So a serious
> answer to your tongue in cheek...
>
> Good question. I believe almost all paved, ice and snow more often than
> gravel and dirt. No mountains, just the odd hill.
>

he might have been thinking something like a $500k maybec that could
potentially yield you a nice chunk of change.
but i can't help but wonder about the tax consequences of this proposition.
if the employer is reimbursing you for any or all of the car that would
probably be taxable income, and that means it would cost you at least
30% out of pocket. so say you got a $40,000 car and your employer paid
you $32,000 (80% of the value), it would cost you at least $9,600 in
taxes plus the 20% or $8,000, making it more like they were only
offering to pay you only 50% of the cost of the car for you to use
mostly for work. doesn't sound so attractive to me, particularly if you
were to buy a new car that looses much of it value the instant its
wheels roll off the dealers lot. i suggest either suggesting the
employer purchases the car outright themselves as well as pay for the
insurance and they simply lend it to you, otherwise it doesn't strike me
as generous but rather a good way for them to save a tremendous amount
of money by not having to buy it themselves. i know you asked about
what model car to consider, but the actual cost of the car to you is an
important part of the decision and the tax consequences are a key part
of that equation.

Off Topic question
 

"Christopher Muto" > wrote in message
t...
>
> he might have been thinking something like a $500k maybec that could
> potentially yield you a nice chunk of change.
> but i can't help but wonder about the tax consequences of this
> proposition.
> if the employer is reimbursing you for any or all of the car that would
> probably be taxable income, and that means it would cost you at least 30%
> out of pocket. so say you got a $40,000 car and your employer paid you
> $32,000 (80% of the value), it would cost you at least $9,600 in taxes
> plus the 20% or $8,000, making it more like they were only offering to pay
> you only 50% of the cost of the car for you to use mostly for work.
> doesn't sound so attractive to me, particularly if you were to buy a new
> car that looses much of it value the instant its wheels roll off the
> dealers lot. i suggest either suggesting the employer purchases the car
> outright themselves as well as pay for the insurance and they simply lend
> it to you, otherwise it doesn't strike me as generous but rather a good
> way for them to save a tremendous amount of money by not having to buy it
> themselves. i know you asked about what model car to consider, but the
> actual cost of the car to you is an important part of the decision and the
> tax consequences are a key part of that equation.
>

Well Don, it is an interesting question but I think that to be of much
assistance you'd have to give us a ballpark value. What's your buddy want to
spend? Also, what kind of driver is he? Is he an enthusiast or a get me
from point A to point B, kind of guy?

A couple clues on this and I think you might get even better (more focused)
responses.

Also, I agree that it sounds like a funky situation but like you said,
having a decent paying job is worth wadding thru some muck I guess.

Chris
99BBB

Off Topic question
 

On 2011-01-11 16:36:31 -0500, Christopher Muto > said:

> but i can't help but wonder about the tax consequences of this proposition.
> if the employer is reimbursing you for any or all of the car that would
> probably be taxable income, and that means it would cost you at least
> 30% out of pocket. so say you got a $40,000 car and your employer paid
> you $32,000 (80% of the value), it would cost you at least $9,600 in
> taxes plus the 20% or $8,000, making it more like they were only
> offering to pay you only 50% of the cost of the car for you to use
> mostly for work. doesn't sound so attractive to me, particularly if
> you were to buy a new car that looses much of it value the instant its
> wheels roll off the dealers lot. i suggest either suggesting the
> employer purchases the car outright themselves as well as pay for the
> insurance and they simply lend it to you, otherwise it doesn't strike
> me as generous but rather a good way for them to save a tremendous
> amount of money by not having to buy it themselves. i know you asked
> about what model car to consider, but the actual cost of the car to you
> is an important part of the decision and the tax consequences are a key
> part of that equation.

Thank you. Excellent point.

I was brought into this strictly because of my interest in cars, so we
did not spend much time talking about the financial side. I am not sure
if Mark has thought about the tax situation. Also it may be a shared
ownership kind of deal. In any case I will certainly e-mail your
comment to him.

Off Topic question
 

On 2011-01-11 15:07:29 -0500, "Frank Berger" > said:

> If I had such an opportunity I certainly wouldn't worry about theft.
> I'd just make sure I had enough insurance!

Umm, spoken like someone who has never had a car walk away. :-)

* Stranded in a strange town.
* Need to arrange a rental which usually has to be returned to the same
city or incur high transport fees.
* Waste time filling out police reports.
* Wait weeks for the insrance to finally send a check for a lot less
than the real replacement cost.
* Waste time shopping for another car.
* See your insurance double the following year...