Car allowance offer

I have a job with a car allowance and would rather put the money towards a car that i will own rather than use a company car or lease a car - i will have 600 per month to put towards a reliable car - anybody out there got suggestions of where i can go for a rent to own car situation - i would prefer to go private but beggers cant be choosers right?

Sounds like a zero residual valve lease agreement is what you want. Do you have to worry about tax implications?

What a great position to be in, one I almost swung and Did the maths on a while back.
I looked at what I'd get annually in $. Deducted servicing, insurance, tyres, to see what was left.
Then over a five year loan period, how much would that let me borrow. You might say you'd only keep it 3 years but I went five thinking even if only three there would be residue value in car.
Whatever it is you can borrow with that sum paying the loan off is what you can spend. I was intending to use dealer and include 3 yr warranty in it.
I figured even after five years I would have some value left in car which would bybthenowe me nothing.
You could get cheaper car and save the cash but I like my cars so would have spent it all. Meant I could have something more interesting I liked rather than usual company car fodder.
Will depend on who pays gas too. If you pay gas keep that in mind with calculations.
I looked at leasing and it could work but I just perfered getting my own and having a car I own at end of it to sell.
Enjoy.

Im reluctant to make recommendations to you without knowing your sort of job and the expected milage for the company you will do and if the allowance is all up or plus fuel.
To give you an idea--just a guide
At 14% over three years $12000 will cost you a fraction under $450/month leaving you $150/month for running costs.
I don't know if Id go any longer in term as you would be then locked into ma job as you will be locked into those payments

so is the $600 per month complete as in petrol,servicing,reg and wof, insurance, depreciation if so I don't think you ll be buying a car with it anytime soon that works out at $138.46 per week

That would pay my gas

Why would you rather go private? With $600 a month to spend and a decent credit profile you should easily be able to finance something decent.

Boss might not be keen on rep arriving in an old banger.

I had the same situation a few years ago but a little more per month to play with and a company fuel card, bought a new 2008 GTI, finshed my job in 2010 but had my own car and had it paid off by the end of 2010.

Definitely go for your own and don't lease one, buy new and milk the salesman and warranty hard but also remember there is still maintenance costs etc that you will need to be able to cover with that X amount.