Insurance - Page 2 - PeachParts Mercedes-Benz Forum

Hatterasguy · #16 07-04-2007, 01:41 PM

Quote:

Originally Posted by Stevo

True, You cant use it for work or school on a daily bases, but Hagerty is saving me a bundle. I'm retired and my cars are "toys" that I can use for road trips or anything else as long as its not "the same thing every day"

As in a commute.

Well its nice if you are in that position.

Mine is a work car and a tax write off, so no go.

#17 07-04-2007, 01:43 PM

Quote:

Originally Posted by Hatterasguy

Well its nice if you are in that position.

Mine is a work car and a tax write off, so no go.

Same here, about 40K miles per year.

Hatterasguy · #18 07-04-2007, 01:44 PM

I'm not sure what I can write off, come tax time I need to talk to an accountant.

Brian Carlton · #19 07-04-2007, 01:47 PM

Quote:

Originally Posted by Stevo

True, You cant use it for work or school on a daily bases, but Hagerty is saving me a bundle. I'm retired and my cars are "toys" that I can use for road trips or anything else as long as its not "the same thing every day"

As in a commute.

I checked into this quite carefully and can tell you that it's a scam. You cannot use the vehicles for road trips to a destination unless it's a car show.

If you decide to drive the vehicle from your home to your mother-in-law's house that's three states away, they won't cover any loss suffered with the vehicle.

You can drive it for "pleasure", but, they define pleasure as "no destination".

They offer insurance for $125.00 per year for a good reason...........they don't pay............

#20 07-04-2007, 01:47 PM

Quote:

Originally Posted by Hatterasguy

I'm not sure what I can write off, come tax time I need to talk to an accountant.

Actually, I keep cars in my name and take a before tax mileage payment, currently $.485 per mile.

Brian Carlton · #21 07-04-2007, 01:49 PM

Quote:

Originally Posted by Craig

Actually, I keep cars in my name and take a before tax mileage payment, currently $.485 per mile.

..........must be nice to deduct nearly $20K per year............

..........that's enough for a new Metric engine...........

Hatterasguy · #22 07-04-2007, 01:51 PM

Thats not bad, maybe I'll see if I can do that...

#23 07-04-2007, 01:53 PM

Quote:

Originally Posted by Brian Carlton

..........must be nice to deduct nearly $20K per year............

..........that's enough for a new Metric engine...........

Sure beats spending half my life in airports (been there, done that).

At least it helps pay for my new oil pump.

#24 07-04-2007, 01:56 PM

Quote:

Originally Posted by Hatterasguy

Thats not bad, maybe I'll see if I can do that...

That's the current GAO/IRS rate, the keep adjusting it (based mostly on fuel cost, it was $.445 a few months ago). That's the maximum rate that can be payed to an employee for personal car use without it being taxable.

Stevo · #25 07-04-2007, 03:07 PM

Quote:

Originally Posted by Brian Carlton

I checked into this quite carefully and can tell you that it's a scam. You cannot use the vehicles for road trips to a destination unless it's a car show.

If you decide to drive the vehicle from your home to your mother-in-law's house that's three states away, they won't cover any loss suffered with the vehicle.

You can drive it for "pleasure", but, they define pleasure as "no destination".

They offer insurance for $125.00 per year for a good reason...........they don't pay............

Thanks Brian. I will do a little research and in the meantime everywhere I go will be without a destination.

toomany MBZ · #26 07-06-2007, 06:04 AM

Quote:

Originally Posted by Brian Carlton

I checked into this quite carefully and can tell you that it's a scam. You cannot use the vehicles for road trips to a destination unless it's a car show.

If you decide to drive the vehicle from your home to your mother-in-law's house that's three states away, they won't cover any loss suffered with the vehicle.

You can drive it for "pleasure", but, they define pleasure as "no destination".

They offer insurance for $125.00 per year for a good reason...........they don't pay............

You said it! Unlimited mileage, unless you drive more than few miles here and there every now and again. Must be locked in a secure area, garage, trailer or at a show in a paddock over night. No coverage in a hotel parking lot. Won't cover me going to the grocery store...anything can happen there, sir. What a freakin' joke! I don't have a trailer queen, these cars were made to drive!