I was offered a bonus of $7K and ask in return if I could get a $25K company car instead. Good idea? My car is on it's last leg so the bonus would go to a new car anyway. The company car will include gas and insurance, but it won't be mine. I think it's a great deal but I would like your opinion.
Company cars are great, but know that if you get into an accident at ALL in it, they will drug test you.
Yea I'd go for the car man. I mean they will be giving you a nice brand new car most likely and pay for everything, where with 7k you might buy a car and it tear up on you right after you buy it.
Damn man that is a true problem I honestly would say go for the car but then again in just 4 years time the bonus pays for itself and continues. I say flip a coin.
I'd go for the company car, unless you're having money problems; in which case you can find a decent car for around $5k. My buddy just got an 05 Neon with 60k miles for $3900 I think
I'll tentatively say to take the company car, however: Figure out your yearly cost of gas. Take the mpg of your personal car, multiply that number by the how many miles it is to your job, multiply that by 2 (to and from work, assuming you do the trip twice a day), and multiply that by the number of work days in a year (260 if you're M-F). This number is roughly how many gallons of gas you spend on work in a year. Multiply that by the price of gas in your area. Assume this cost will rise. Or, use this: Annual Gas Cost Approximation Calculator Factor in the the monthly insurance on your personal vehicle, for 12 months. Factor in the possible repairs to your vehicle, you might make in 12 months. Does that add up to more than 7k in a year? If you think you're going to be at your job for more than a year, take the car.
Take the bonus. No point in worrying about a car that's not yours. I drove a company car, I'd love a bonus instead.
First on the drug test - not an issue. My current car is on it's last leg, so I will need to get a new one either way, I don't need the cash, but it would help pay for the new car. The company would give me any car I want in the $25K range if it's American made, I am thinking a fully loaded Focus, or a bare bones camero. I do a lot of driving for work and currently get mileage for it, but the car would benefit me in the trip to and from work that I don't get paid for, and the other miles I forget to turn in, this is a savings of about $3,900 year, so it would pay for itself in two years. The other downside with the bonus is taxes, I would have to pay taxes on the bones and then pay taxes on the car, making my $7K only about $5K in true buying power. I really appreciated all the comments.
I've read good things about the Camaro, when stacked up against other American muscle cars in their price range. Only reason not to get something with some balls is gas mileage, and you're not paying for that so fuck it.