new company car or opt out?

rapid64k

rapid64k

rapid64k

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Joined
18 Dec 2006
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Hello gents I have been a company car driver for around 25 years and have only ever had two cars that were my own. I have a leased car at the moment which i never drive outside of work because it sucks!!
I own a 12 years old BMW 3 series SE Auto which i love very much:p.

I have been promoted and will have been offered a BMW 3 series must be 2.0 with low emission my work friend got himself a BMW 3 Series Diesel Saloon 320d Efficientdynamics 4dr as his company car.
I can have the same or i can opt out and get £532 car allowance. Im not sure if i should go for the company BMW or lease one for myself will i be better off?

I will be office based doing around 66 miles a day which will be over 10,000 miles a year...what should i do?
 
Hi fox. as its going to be a new position and i will be mostly office based i cant say how many miles i business miles i may do, but it will be more than 10,000 as travel from my home to work will be classed as personal.
Tax wise i guess 20%
 
Dang your good lol.....i got to read it all again and take it all in. Thanks for all the research.
The BMW 3 Series Diesel Saloon 320d Efficientdynamics 4dr Step Auto has very low emissions , which my company likes.
so your vote is to go for the the opt out?
 
Thing is im just coming out of a bit of a financial nightmare and all my funds have been depleted so i dont really have cash to hand to buy another car right now and i dont want to take another bank loan...how about leasing a car instead?
 
Yeah was checking that out fox, all i can do at this point is work out my travel to work and home..and then estimate the rest. As its a new post i cant say how much mileage i will be doing as i will be office based about 3 -4 days a week.
10,000 maybe to little for me as its around 40 miles to office so in total 80 miles a day that alone is around 11,500 miles a year
 
Yes i have seen that. I wont make that much out of private mileage anyhow as i will be predominately sited in the office maybe only going out 2 or once a week.
 
Windle said:
He's already said he doesn't have cash put by at the moment though and has had a "financial nightmare" and bank loans etc. In which case he probably doesn't have money for a deposit for a new car on finance, and may not even be credit worthy enough to obtain finance. Most opt-out schemes put limitations on the type and age of car you can run, so again I'm assuming he doesn't have money to drop on buying a decent used-approved or newish secondhand car.

If it's like our scheme in 3-4 years he'll be able to choose to either take a new company car or then opt out. Taking a car here doesn't prohibit you from then switching to the opt out scheme once the car period is up (4 years at our company)
Click to expand...

I would draw the line at been credit worthy lol. But yes just had new windows fitted....finished divorcing my wife etc....
 
Spoke to one of my mates at work he says it works out better to take the company car as he has a BMW 3 series and says it works ok with only £73 a month tax emission is only 109 co2.
Still cant speak to my other friend who got a bmw 3 series diesel saloon 320d efficientdynamics 4dr as he is still off work.
 
Well I got my new company car. I opted for the 3 series efficientdynamics (low emmisionsless tax) and I added an automatic option.
Some other bloke has opted for the Luxury model and has added loads of options - I hope he likes his wage packet when he gets it at the end of the month:D
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