Reactions me an automobile

stig · 17 Jul 2006 at 09:52

well i've decided to be greedy and take my company car as well so i have £400 a month to spend

needs to be :

Fast
Practical
Spacious being 6'2
nice and sporty

considering a new 330i m sport

Gilly · 17 Jul 2006 at 10:02

Take your company car where?

Whats £400 a month? How long is that over? Is there a scheme with restrictions run by your company? Whats the overall budget?

stig · 17 Jul 2006 at 10:07

i will opt in for my company car allowance which is £400 a month , no restrictions at all , fuel isnt a problem.

OllyM · 17 Jul 2006 at 10:08

I guess he has a £400/month contract hire budget...

Does that include the VAT (the company will only be able to reclaim 50% on the hire if you use the car for personal use too, I believe)?

How many miles per annum does this need to cover?

Maintenance/non maintenance?

You do realise that a 330i will hit you very hard with company car tax, being a large petrol engine...

stig · 17 Jul 2006 at 10:10

car wont be covering more then 3000 miles a year as i just brought a 5 series , im just going to use this as a weekend car

just found a Porche Cayman for £385 a month :cool:

Gilly · 17 Jul 2006 at 10:12

Where did you bring the 5 series to? Why does this one need to be practical if you have a 5 series on the drive?

noob · 17 Jul 2006 at 10:17

Gilly said:
Where did you bring the 5 series to?

haha

OllyM · 17 Jul 2006 at 10:20

Ignore me

Kingy · 17 Jul 2006 at 10:20

OllyM said:
You do realise that a 330i will hit you very hard with company car tax, being a large petrol engine...

IIRC, if you take the allowance, you are taxed on that and not your choice of car.

OllyM · 17 Jul 2006 at 10:21

Kingy said:
IIRC, if you take the allowance, you are taxed on that and not your choice of car.

Ah, yes... didn't spot that.

Gilly · 17 Jul 2006 at 10:21

Kingy said:
IIRC, if you take the allowance, you are taxed on that and not your choice of car.

Thats madness. How do they take into account the differing tax levels?

Oblivious · 17 Jul 2006 at 10:25

Gilly said:
Thats madness. How do they take into account the differing tax levels?

Why is it?

When you are given an allowance, you basically given a salary increase.

Then just taxed as a normal income. What you do with the money is up to you, you can spend a little or as much as you want on a car.

You would still get a mileage rate or fuel card from a company, usually.

Gilly · 17 Jul 2006 at 10:27

I suppose. I confess I don't really know how company car allowances and taxes work - having never looked into having one.

Kingy · 17 Jul 2006 at 10:27

Gilly said:
Thats madness. How do they take into account the differing tax levels?

If your total remuneration package (ie including the allowance) puts you over the current £33.3k threshold, then you pay tax @ 40% on your allowance.

It's basically a conditional payrise.

Kingy · 17 Jul 2006 at 10:30

Like your 5 series and now have more money to blow on a car?

This has E39 M5 written all over it.

[TW]Fox · 17 Jul 2006 at 12:02

Kingy said:
Like your 5 series and now have more money to blow on a car?

This has E39 M5 written all over it.

Agree. Buy something daft like that, there is nil point buying a brand new 3 Series saloon as a 'weekend car' if you have a 530d on the drive.

Nozzer · 17 Jul 2006 at 12:15

If you can get a brand new Cayman under-budget, you'd be mad not to take it.

stig · 17 Jul 2006 at 12:32

well i've ordered a project car which is a C230k with a sports pack which will be here tomorrow which i plan to supercharge and modify to my hearts content. im seriously considering the Cayman now im going to ring up and see when i could expect to recieve it.

[TW]Fox · 17 Jul 2006 at 12:33

What? You've ordered a low end Mercedes C Class as a 'project car'? :confused:

What are you going to do, transplant a 3 Series chassis so it actually corners?

Can anyone think of a better way to waste £25k?

stig · 17 Jul 2006 at 12:36

bah i sit at home all day with nothing to do!

and no! actually im gonna try get a AMG powerhouse in there