Car Allowance or Company Car

New hire here. Whats better? Car Allowance or Company Car? Does anyone have any details on either and the breakdown monetary wise?

 

Take the company car. No big$ surprises to deal with. We drive so much, the odds of getting into some costly accident are high. With company paying insurance and maintenance/ repair you'll never get hit with a big bill.

 

thanks. any idea on the options or how much it is a month?

 

Depends. If your car is paid for, you may want to consider an allowance if it is over $600.00 and taxed. Then, if taxed, ask your financial person if you can deduct mileage from your taxes.

 

Of course u can deduct miles.. duh!

 

If you cannot answer that question yourself than you should not have gotten out of finance 101 period.