Hey Beyond,
What is your thoughts on using a personal vehicle for work, and charging back Km? I would be required to travel anywhere from 800km to 2000km/month; and the KM charge back would be the standard 54 cents/km for the first 5k and 46 cents after that. I would be responsible for paying insurance, fuel costs, maintenance, wear and tear etc.
I am looking at purchasing either a Truck or Suv in order to do the above. What is the best route to make this work in my favour?
I am thinking of the below options:
1. Purchase a used truck with relatively low km. My budget would be about 30k and would be paying outright if going this route
2. Purchase a new truck and finance it; looking for something with low interest rate if possible.
3. Lease a truck, not sure if this option would be feasible, or if I would end up paying more in km driven/potential damages upon returning the vehicle.
Am I out for lunch thinking any of the above can work in my favour, and off-set depreciation with the km charge back?
Any input is appreciated.
Thanks!