A YouTube video by Mike Andes (uploaded June 4, 2024) advising new business owners on transportation choices: the speaker recommends using a company vehicle rather than buying a flashy personal car, emphasizing cost savings, avoiding debt on a depreciating asset, and tax benefits from writing off company-vehicle expenses.
We're going to go walk someplace to reveal number four. But let's. On the way, we're going to talk about transportation because you don't need a fancy, flashy car. I want you to spend it on the business. All right, so we're going to go for a little walk. But, like, see this car? This is a fantastic car. 8 years old, still relatively new. I'm going to guess it has 100,000 miles on it. A little bit of bird poop basically drops the value. Fantastic. We'll get a good deal on it. Hopefully no one's inside there because their windows are down. That'd be a great car. On the other hand, we don't need something flashy like this. All right, Ideally, you get a company vehicle. Right. So the first seven years of my business, I drove a company truck or a company car. But you know what's really cool about having a company vehicle is you get to write all of that expense off. I don't want you going into a bunch of debt on a depreciating asset like a car.
