Help me decide pls - company car or cash

[Quaser]

Hiya

Im in the process of being Tupe'd into another company.

My current employer offers me a company car in the form of a Skoda Octavia 1.6 TDi Auto which I quite like if im honest.

I rarely see under 50mpg, it is comfortable, and has a large luggage area.

The new company does not have a company car policy as such - but as I currently have a company car, they have to offer me an equivalent option which is a similar car, or £450 cash. (If I opt out, there will be no opportunity to opt back in at a later date.)

So my question is, do I stick with the company car scheme or opt out. If I opt out, all the servicing, tyres, and general car expense will be on my shoulders.

Q

[jimbom30cab]

It all depends upon the milage you do. You could take the cash and get your own car or if you do a lot of miles it can be cheaper to get the company car - especially as it's an economical diesel. I took the cash myself but at £900 a month is was an easy decision to make.

[hennared323i]

It's all about the milez

High take car, low take cash

[zaust]

As above, when I serve people who have the cash instead of the car I normally put them on a Pcp as it works out less and they get a little back at the end. You can get into most Octavia sized cars for 350 pm based on 12k per year. then a service plan should be around 20 pm but you will still need tyres road fund license and the odd repairs and parts. And importantly you will need your own insurance.

[andyp]

where else are you going to get a new car for 5.5k a year everything paid for, there is not really an option I don't think

[Fastroad]

Like previously stated, all depends on useage. Low - cash up... High - keep car

[Quaser]

I will probably end up doing around 15000 year in including personal mileage and business mileage.

[zaust]

Your bang in either or land then. Find the car you want and see which way gets its it.

[Quaser]

Yeah - that's the problem!

[andyp]

don't forget the insurance, servicing, maintanence, road tax, tyres, fuel,

[Rtaylor2208]

Smartlease.co.uk have some excellent leasing deals. A friend of mine just took a AMG e class diesel on via them for 15K miles on a 2 year deal with full maintenance and its £369 all you need to pay on top is insurance
I think I'd rather be rocking about in something like that than an Octavia.

[Neilios]

Miss my company car (value and worry wise) but do like having the choice to drive what ever I fancy. I took 6k a year almost ten years ago and know I spend so much more but hated driving Accords and Mondeos.

[scott180gtb]

I opted out last year and have been running a 2003 passat as my company bus.

My allowance is £400 per month which I pay higher rate tax on. Don't forget that by opting out you save £100+ a month on tax.

I also claim back the tax via the HMRC for the difference in the cost of fuel that the company pay per mile.

My last claim back from the HMRC was for £800 approx. This was for 14,000 miles in 6 months driving.

An average of the allowance spread over the year nets about £4800 give or take given the tax and fuel allowance.

You can lease some tasty metal for this kind of cash. Our policy is to be amended in the new financial year stopping me running a shed and pocketing the cash.

It doesn't make sense to purchase new and take a hit on depreciation. Its all about the choice for me.

I don't like paying tax on something that I would not choose to buy myself. I need something that has a massive boot for my bikes plus it need to be at least a 2.0 diesel to pull a gin palace.

A 2.0 Golf just doesn't cut the mustard for me.

[scott180gtb]

Smartlease.co.uk have some excellent leasing deals. A friend of mine just took a AMG e class diesel on via them for 15K miles on a 2 year deal with full maintenance and its £369 all you need to pay on top is insurance
I think I'd rather be rocking about in something like that than an Octavia.

This is my point.

Im trying to convince the MD that a M135i fits with the companies new Green policies.