Car recommendations, lease now or later

Looking for some input on a car strategy, located in IL suburbs. Current situation:

  1. Owned - 2020 RX350 w/ 30k miles, lease buyout with positive equity at the time, now worth around ~35. No issues with the car. I drive this.
  2. Leased-2020 XC90, even or slightly negative equity with lease up August 2023. This was not a great deal, $550 at 7500k miles, but needed it asap (that week) and is serving us well. Will probably be like 5k miles over at turn in, and was planning on getting another XC90. Mrs drives this.

I’d honestly be fine driving the RX for a while except a couple things:
-Made partner in my group and can now expense 80% of any car lease. This is done employer side so no audit risk for me, I’m W2. I calculated this to be a 30% discount in our tax bracket.
-Wife has the exact same set up, can expense leases for a 30% discount (been using it on XC) . So ideally we’d both be leasing if the lease market wasn’t garbage.
-Bought a house with a narrow garage. It can fit the RX and XC90 but it’s very tight. We don’t need 2 SUVs and I’d be fine going to a sedan.

So initially thinking not doing anything until August 2023 to maybe leverage getting 2 leases at once. But seeing some not terrible volvo deals in Nov and could see myself in a S60 or something. Any opinions on if I should move/sell the RX earlier? Or any narrow luxury cars for a right garage? Do Tesla leases make sense even with a 30% discount vs buying? Our only requirements is 1 cars needs to be a 3 row Suv.

Man I wish as a public servant I could right off luxuries in my life but I guess someone has to pay for these loopholes.

This isn’t likely to create a significant advantage, so I’d use this as a tie-breaker.

I have a similar constraint (garage is ample, but the $%^@$% door openings they put in these homes limit my practical options :angry: ) . ’

Google makes it pretty easy to find the width of any cars you’re considering, so when a particular vehicle interests me I’ll do a quick check of the dimensions before getting too invested.

The car allowance is just part of the comp plan that his employer has chosen to offer in order to retain his talent. It could just as easily be a higher salary.

Regardless, OP has already factored in the part that’s material to the automotive decision, which is the fact that he’ll get taxed on the value of the benefit (because it’s compensation), which is the loophole that pays for your livelihood. :slight_smile:

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If the expense is done on the employer side, why can’t you both expense the XC?

Car needs to be in my name to expense and vice versa. Though now I’m wondering if we consign on 1 lease if both names would show up on the statement…

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