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Company Cars ?

chieftiff

War Hero
Moderator
OK, how does this work.

I have just secured a very good job and one of the many perks that comes with the position is a company car, great me thinks, but this is so bloody complicated!

I get the choice of choosing a car from a list, in which case it is fully paid for and I claim back fuel money by receipt (they reimburse me exactly the cost of my fuel) or I can buy a car for which I am given £450 per month and fuel is paid for at 25p per mile but I have to pay for servicing etc, or I can lease a car up to the cost of £450 (including insurance and servicing) per month for 3 years with an option to purchase at the end and fuel is reimbursed at 25p per mile. I am only expecting to clock up about 15000 business miles a year because I have other travel options available.

On top of all this I have tax implications!

How the f*kc am I supposed to work out the best option, I have looked at a few sites and can pretty much get any car I might want but how do I go about comparing the options without setting up a spreadsheet and inputting all th data, anyone in HR have a quick way of working through this? or anyone else have similar experience?

Cheers
 

andym

War Hero
Having had CC's for the last 12 years,and have knowledge of all the options personally i would go for the first option.Witht the last option,you maybe be up shit creek if you get made redundant or loose your job.The second one is ok but can you actually get a decent car for the money?


At least with the 1st option you owe nothing and if it all goes horribly wrong you wont be out of pocket.

I choose a car off a list and get all my fuel payed for,i curently pay around £50 a month company car tax for the pleasure.I then pay for any private milage at 13 p a mile.The Tax is worked out by thaking a %ge of the cars value and spread it over the year,these depend on the car,emissions and engine size.
 

chieftiff

War Hero
Moderator
andym said:
Having had CC's for the last 12 years,and have knowledge of all the options personally i would go for the first option.Witht the last option,you maybe be up shit creek if you get made redundant or loose your job.The second one is ok but can you actually get a decent car for the money?

.

Cheers Andy, I thought I was missing something and that's exactly how I see it, I can get an A4 170 by forking out an extra £57 a month on top but I already have a brand new motor to run so would rather not, the list of cars is actually fairly good and to be honest I'm not a car geek so if it gets me from A to B on the cheap I'm happy.


Scabz, I submitted notice just over 9 months ago and will start this job in my terminal leave :thumright:
 

Ueshiba

Lantern Swinger
chieftiff said:
andym said:
Having had CC's for the last 12 years,and have knowledge of all the options personally i would go for the first option.Witht the last option,you maybe be up shit creek if you get made redundant or loose your job.The second one is ok but can you actually get a decent car for the money?

.

Cheers Andy, I thought I was missing something and that's exactly how I see it, I can get an A4 170 by forking out an extra £57 a month on top but I already have a brand new motor to run so would rather not, the list of cars is actually fairly good and to be honest I'm not a car geek so if it gets me from A to B on the cheap I'm happy.


Scabz, I submitted notice just over 9 months ago and will start this job in my terminal leave :thumright:

Look at the Passat before the A4. Just as good a car, and may be within your limit. I went for it, and that was the case for me, plus tax is just over £100 a month on a 2 litre diesil. Great car to drive too. And if you choose the model with the electronic handbrake, once you get used to it, you will forever be drinving off with the handbrake on when in the wifes car.

Seriously, if you are doing those miles, you want a company car. Better to take that small tax hit, and not have to worry about services, road tax, insurance, tyres etc..

For the tax, look at the IR website, I am sure they have a calculator.
 
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