Thanks mate. Also likes the DS3 but its only two doors which can be a pain with a nipper in tow.
Company car.... or not??
- Thread starter Stelly
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Thanks mate. Also likes the DS3 but its only two doors which can be a pain with a nipper in tow.
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I really would suggest you go and have a look at the C3 Picasso Exclusive (Diesel).
Loads of space, auto everything and staggeringly good mpg. I get around 50mpg in central London. It really has the lot. Even an extra inside rear-view mirror that flips out to watch the kids in the back. A great family car and I agree with several motoring journalists that say that its ride puts many bigger saloons to shame.
Loads of space, auto everything and staggeringly good mpg. I get around 50mpg in central London. It really has the lot. Even an extra inside rear-view mirror that flips out to watch the kids in the back. A great family car and I agree with several motoring journalists that say that its ride puts many bigger saloons to shame.
Normally with a lease you get a fixed price at the start to buy the car at the end. My Civic 2200 CDTi will cost me £3600 if I buy it at 4 years old. You can make a judgement if you are getting a good deal or not after the lease has ended.
Disadvantages of leasing, you are tied in, my leased company car will end when I am 60, I will not take out another in case I want to leave employment or retire and do something else.
You generally have to specify mileage up front to fix the price of the lease and end payment. I have 22000 miles per annum which can be a bit tight, I am 3000 miles over after 2.5 years. But it concentrates the mind.
Advantages, no bills, servicing, insurance, tyres etc. paid. FSH. Car Tax is normally part of the lease payment but you normally pay for it yourself when due out of salary.
I was always a company car person but leasing is much more advantageous in tax than a fully funded company car.
I would take a lease over the taxable allowance, except for possible retirement.
Is the lease before tax? Mine is £470pcm but because I pay 40% tax at the margin I get about £660 paid in salary before tax comes off.
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As a guideline, the Astra CDti Ecoflex Sri that I've just ordered will cost me £45 a month in tax and 9p per mile private use.
No insurance, no road tax, no servicing, no tyres.
If you get the right deal you could come out of this with it all balancing out and your wife not loosing any money but getting a free car if you take her circumstances now as the starting position. (given car cost, tax implications and cash left over)
No insurance, no road tax, no servicing, no tyres.
If you get the right deal you could come out of this with it all balancing out and your wife not loosing any money but getting a free car if you take her circumstances now as the starting position. (given car cost, tax implications and cash left over)
Option 1 will cost you significantly more than the £570 a month, depending on the car. BIK tax must be worked into this calculation!
Option 2 will be subject to Income Tax and NI
Option 2 is nearly always the better option (unless you have "career smarts" etc
)
Option 2 will be subject to Income Tax and NI
Option 2 is nearly always the better option (unless you have "career smarts" etc
)
for those doubting www.lingscars.com - I just leased a car from there and without a shadow of a doubt the best customer service experience of my life.
Superb from start to finish - excellent service and highly highly recommended.
Superb from start to finish - excellent service and highly highly recommended.
Option 1 will cost you significantly more than the £570 a month, depending on the car. BIK tax must be worked into this calculation!
Option 2 will be subject to Income Tax and NI
Option 2 is nearly always the better option (unless you have "career smarts" etc
Explain option 1 to me.
If the company leases a car for her up to a certain value, she will only pay the BIK on the car, not tax on the £570, plus bik on the car.
For instance, if the company leased a BMW 118d es, on 20% tax if she paid her own private miles, would mean she would be liable for £876 per year ONLY.
Depending on how much the lease was, and what was left over if she is paid the balance of the £570 would mean she would only pay income tax and NICS on the balance of £570, plus the £73 a month the BMW would set her back.
A good example is the Buggati Veryron 2dr supersport, target price £2,000,000.
Percentage charge 35%
Bik £699,648
Tax payable £139,930.
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£570 ought to get you a better car than a 118d ES really, but OK...
So she pays her BIK Tax on that and has nothing at all to show for it after the three years.
Work out the TCO of both options and you will see that taking the money is the better option, despite the seemingly higher tax burden.
So she pays her BIK Tax on that and has nothing at all to show for it after the three years.
Work out the TCO of both options and you will see that taking the money is the better option, despite the seemingly higher tax burden.
My favourite bit "When this new Citroen DS3 breaks down, you can get it fixed at a Citroen garage for free!" No if it breaks down but the certainty that with a citroen it will.
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At my company,depending how much you sell,depends on what level of car you get.I'm in a pug 308 at the minute.all I do is justl drive the thing,the company pay for fuel,services wear tax insurance, sorted.although it would be nice to choose anything I have to sell more 
,I had the choice of the 308,an auris or another foci.
,I had the choice of the 308,an auris or another foci.Option 1 will cost you significantly more than the £570 a month, depending on the car. BIK tax must be worked into this calculation!
Option 2 will be subject to Income Tax and NI
Option 2 is nearly always the better option (unless you have "career smarts" etc
true, cash all the way