New company car

Thaksins Love Child

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Joined
23 Aug 2008
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Bluemanc100 said:
Prestwich_Blue said:
Thaksins Love Child said:
Bump.

Just been given a £400 (give of take a few quid) allowance to get a company car. I can either do this through the company or take a lease out myself and have the amount paid to me as a salary increase.

Got a Merc C class I inherited when someone left at the moment.

As I know f*** all about cars, suggestions are welcome.
First of all I'd take the cash as you'll probably incur less tax that way but look on the Web for a cash v car calculator.

It's a major dilemma, the cash is tempting but so is having a car that costs you fuck all sitting outside (apart from the HMRC payment). I was offered £520 per month allowance or the car but take the tax off and its not so much. You also have all the risk if you take a lease and end up out of pocket if laid off, I know a guy who took out a top of the range Alfa and lost a bundle
Yeah probably doesn't help that I am a bit clueless/ignorant when it comes to thing like this an tax in general. I guess I need to do some research.

Had a look on a couple of manufacturer websites before. The amount of models out there is quite daunting.
 

1961_vintage

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Joined
21 Sep 2009
Messages
12,571
Thaksins Love Child said:
Bump.

Just been given a £400 (give of take a few quid) allowance to get a company car. I can either do this through the company or take a lease out myself and have the amount paid to me as a salary increase.

Got a Merc C class I inherited when someone left at the moment.

As I know f*** all about cars, suggestions are welcome.

If you are confident of being with your current employer for another 3+ years, I would take the cash and go and sort your own leasing deal, one that is fully loaded in terms of maintenance and repair, breakdown and recovery etc. Assuming the £400 is per month, you can get a good deal for less than that and bank the difference.

If you are not so sure, go with the company car option. This is less risk to you (ie if you lose your job you simply hand the car back) and you should also benefit from their ability to get you a better deal. If you get the choice of car right in terms of list price and emissions, you can also keep the inland revenue tax side of it down. Electrics and hybrids are particularly attractive right now tax-wise and can be low on the overall running costs.
 

jimharri

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30 Dec 2007
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115,109
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The back of beyond
Thaksins Love Child said:
Bump.

Just been given a £400 (give of take a few quid) allowance to get a company car. I can either do this through the company or take a lease out myself and have the amount paid to me as a salary increase.

Got a Merc C class I inherited when someone left at the moment.

As I know f*** all about cars, suggestions are welcome.
8sFxQ.gif
 

Barcon

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Joined
21 Nov 2009
Messages
38,848
Location
Toronto via Failsworth
jimharri said:
Thaksins Love Child said:
Bump.

Just been given a £400 (give of take a few quid) allowance to get a company car. I can either do this through the company or take a lease out myself and have the amount paid to me as a salary increase.

Got a Merc C class I inherited when someone left at the moment.

As I know f*** all about cars, suggestions are welcome.
8sFxQ.gif

Is that Kelly Bundy?
 

i kne albert davy

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Joined
29 Aug 2010
Messages
8,630
Blue Streak said:
That Jaguar XE is one seriously good looking car. I've just turned 40 and would snap that up over a BMW or Audi anyday if the situation was ever possible.
Not quite over the hill myself and given those choices the Jaguar would be on the drive now as it is I'm stuck with a B.G. van oh well can always dream.
 

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