I do some consulting for my husband's boss, whom I know well. He has a 2012 Mercedes Benz GLK 350, 100K, loaded, sitting around. He'd like to pay me next year with this car. Help me decide whether to accept, or insist on cash. He will discount the cost of the car to me by about 33%, making it a very good deal ($12K) on what it is.
I've investigated the car somewhat - I'm a long way from being car-savvy, but I read what Consumer Reports had to say, and it was pretty encouraging, given I WON'T DRIVE IT VERY MUCH.
Explanation: In pursuit of a more MMM-lifestyle, we have moved to a small town where I can walk/bike nearly everywhere town-related, and I only need to drive to the next town occasionally (couple times a month) or long distance (300+ miles, <8 times/year).
My present car is a 2005 Toyota Scion xB, which I bought new. I have driven it 220K since, and it has been a rock star. However, my husband and my mother have been on my case for years to "upgrade your car, we worry about you." I admit, it's not the quietest interior experience, and it sits like a dining chair, but it's taken care of me and my stuff.
I checked insurance rates, and discovered I've been overpaying, so that's going to get fixed anyway.
I know I will pay income tax on the value of the car. But I won't have to fool with payments (which I'd have to do, given the Beginning Point of my MMM journey.)
Honestly, I'm most nervous about inflation of expectations/cost of maintenance owning a luxury car! I've always owned/driven nonluxury cars, but CarMax tells me that I couldn't get a better late-model deal given a $12K budget.
What am I not thinking of? I need to make a decision for 2018.