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93195 t1_jadsyu1 wrote

This partly depends on the rules for the company car and how stable you are in the job. Can you also use it for personal reasons, or is it company business only? Do you anticipate staying in this job long term, or possibly getting a new job within the next year or two?

If it’s company business only, can you get by being a one car family (for personal use)? If not, question answered. Do you anticipate being in this job a while? If not, question answered.

As to which car to get rid of assuming it makes sense to get rid of one, that’s tough. My gut says keep the paid off one with only 50K miles (get snow tires), but you’re almost certainly underwater on your Escape, meaning you’ll have to come up with some cash to get rid of it.

So coming up with cash now or continuing monthly payments? Which is less worse for you?

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AthearCaex OP t1_jadwcpk wrote

I've been working at this company for a year now and I've been told by higher ups my jobs security is extremely high. I've been told it could be a lifetime position if I wanted it so that's not much of a concern but it would be if I up and left the company that would be awkward for a bit.

In terms of getting by with 1 car it depends. Occasionally my wife and I are at different locations in the evening. I could probably use the company vehicle for some personal driving but occasionally I'll drive 50 miles away from home and if I got into an accident off work hours it might cause issues.

I can come up with cash but it depends on how much it costs like I would hope my car would mostly hold it's value as it has a bunch of extra features on the car that brought up the cost a lot. I'm still pretty sad as I got the car with the anticipation of driving it long hours for work.

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AthearCaex OP t1_jadxgys wrote

I just looked at the Kelly blue book value and it's 30850 so roughly the same as my loan assuming it sells for that.

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93195 t1_jae3kjx wrote

That’s dealer retail, or private party sale / trade? You won’t get dealer retail.

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AthearCaex OP t1_jae3zc0 wrote

It's just a kelly blue book quote. I'd imagine their own company would offer close to what their quote was, of course they could just claim X damage on the car but I don't expect any damage as I have no accidents, I bought car covers and I bought the special plastic floor thats easily cleaned.

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93195 t1_jaf4gw3 wrote

That’s not how this works….that’s not how any of this works….

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