WHO Poll
Q:



Guy Gibsons Dog 12:36 Sat Aug 10
Company Cars
The fountain of knowledge that is WHO surely has some answers.

I am starting a new job soon and will be getting a £6600 company car allowance. I have looked online but most are the discussions are about taking the car versus taking the money and tax benefits etc.

I will be taking the car as it comes with a petrol card etc. The questions i have is what could I expect to get for this amount. I have looked at various leasing sites,

I assume that is how it is done but I have no idea, this is one I have looked at but I ave no idea.

I have not driven for over 15 years so if you are on the road around Canterbury - beware.

Replies - Newest Posts First (Show In Chronological Order)

PwoperNaughtyButNot 1:01 Sat Aug 17
Re: Company Cars
Wait until April 2020 and the benefit in kind tax for full electric cars is 0%

PwoperNaughtyButNot 1:00 Sat Aug 17
Re: Company Cars
(nt)

Westside 8:19 Fri Aug 16
Re: Company Cars
Got an update, It is a car allowance, would this be in the form of a one off payment or is it included in a monthly salary

Generally, a monthly payment, included in your salary.

May well show as a separate line (gross) on your payslips.

violator 1:09 Fri Aug 16
Re: Company Cars
My old man used to have company cars back in the 70's, one of them was a Triumph Dolomite Sprint, wasn't very practical for the family but was a fucking beauty.

Guy Gibsons Dog 1:05 Fri Aug 16
Re: Company Cars
Got an update, It is a car allowance, would this be in the form of a one off payment or is it included in a monthly salary

Cheezey Bell-End 1:00 Mon Aug 12
Re: Company Cars
For that money, you could get a decent motorbike.
You might snap your spine around a lamp post, but it's more fun than a similarly priced car.

Hammer and Pickle 6:24 Sun Aug 11
Re: Company Cars
Do you have a Hudson HORNET?

Far Cough 6:22 Sun Aug 11
Re: Company Cars
I wish I had the General Lee, there's a good replica of one in Portsmouth

Westham67 6:18 Sun Aug 11
Re: Company Cars
Boss Hogg

Mart O 6:11 Sun Aug 11
Re: Company Cars
Far Cough 5:53 Sun Aug 11

Do you perchance inhabit Hazzard County ?

Far Cough 5:53 Sun Aug 11
Re: Company Cars
Bought myself 3 brand new motors, a Chevy S 10 and two Chey Silverados

Boycie 5:47 Sun Aug 11
Re: Company Cars
and canterbury are building charging points for cunts with electric cars to park anywhere, you will also be able to exceed the speed limit and drive in bus lanes

Boycie 5:45 Sun Aug 11
Re: Company Cars
lease an electric or hybrid you get loads off tax, do your bit for the environments (although greenhouse gasses used to build a new car are just as harmful as buying second hand fossil fuel burner)

Iron Duke 1:35 Sun Aug 11
Re: Company Cars
I haven’t had a company car since 2005, but running a car on 18,000 miles or more a year would cost you a lot in depreciation, servicing, parts, maintenance and insurance. Not to mention the hassle of having to do all this yourself.

Westside 1:27 Sun Aug 11
Re: Company Cars
Sorry iron Duke, that's completely wrong.

That used to be the case, but mileage based adjustments to BIK on company cars were abolished in 2002 and changed to the current system.

Iron Duke 1:19 Sun Aug 11
Re: Company Cars
I think it depends on how much business mileage you do. More than 18,000 and it is worthwhile getting a company car. Up to 12,000 I would take the allowance and lease. Anywhere in between is down to your preference and judgement.

Mirkwood 1:14 Sun Aug 11
Re: Company Cars
I get paid company car allowance. I ended up leasing one. Skoda VRS. £300 a month.

Westside 12:57 Sun Aug 11
Re: Company Cars
and who in their right mind would buy a brand new car?

Lots of people, as there are over 2.3 million new cars were sold in the UK last year.

I wasn't one of them (ever).

Given the changing face of cars, and taxation it's worth remembering that for fiscal year 20/21, the benefit in kind on electric vehicles will be zero. Rising by 1% point for the two years there after. Pure electric that is. Different rate for hybrids.

Syd Puddefoot 12:54 Sun Aug 11
Re: Company Cars
3.4% or something like that. Sainsburys bank as directed my Money Saving Expert. When I say rock bottom I mean that interest rates in general are very low not that I have necessarily got the lowest possible ratre myself.

BRANDED 12:45 Sun Aug 11
Re: Company Cars
Syd

What interest rate are you paying?

Syd Puddefoot 12:30 Sun Aug 11
Re: Company Cars
Agreed there is a nice side to having a lovely new company car every three years but these days you don’t half pay for it. I am no petrol head junkie (assume the OP is not either if he has not owned a car for 15 years) so the financial aspect is the key driver for me.

I use my allowance of 8K (4800 ish after deductions) to fund a two year 8K car loan at rock bottom interest rates and bought my old company cay with that. Now three years in, I still have the same company car and am half way through paying off a second 8K loan with which I bought my wife’s car.

Admittedly I have had a relatively trouble free time with mine, depreciation is not a factor as I don’t consider my car to be on the family balance sheet anymore, and who in their right mind would buy a brand new car? Get one a year or two old with at least a bit of dealer warranty left to cover you, and the savings in BIK will be more than worthwhile and cover all but the most catastrophic of issues.

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