Yet another company car question..

So, I'm pretty keen on the Octavia vRS diesel.

It so happens that Skoda have them on 0% finance offer at the moment, so assuming I could get that, I've run some numbers.

biK wise, it will cost me about £170 pcm to get this on the company car scheme.

I've been quoted £319 pcm to finance on PCP for 42 months, plus a balloon payment at the end. I would receive £300 pcm as an allowance (after tax/NI), thus costing me £20 so to speak.

That leaves £150 difference each month to cover servicing, tax, tyres over the life of the car. £1800 per annum to run a brand new car, plus a bit more hassle to organise stuff myself.

I don't really consider mileage as my business mileage is so low. I can extend the warranty to 4 years for piece of mind and insurance is paid for in both cases.

Am I missing something or does this seem like a no brainer with the allowance being a clear winner?
 
Regardless, the main question of private sourcing vs. company car has (in this case) been answered :)

Thanks guys
 
[TW]Fox;28280218 said:
Which is still a better deal than the one he originally found :confused:
Click to expand...

I never said it wasn't

Just stating it wasn't a brilliant deal to begin, £6,048 for 16,000 miles for 24 months.

OP what's the BIK on an Audi e-tron or Golf GTE?

EDIT:
Tax payable at 20% £337 £28pm
Tax payable at 40% £674 £56pm
 
Last edited:
Audi would be £60 this year, up to £105 by 2017/18.

Given the list price, I would have to fund £x difference myself which I have now opted to try and avoid so I do not think I would be any better off.

Surprised that the BiK doubles for car like that, pretty poor by the government.
 
After my previous post, I found out we can't opt for the allowance option as it's for Senior management team only!

So the order has to stand for her company car.

In the meantime, she's been offered 2 options for her business travel.
Book out a pool car as and when required - the best one of which is a 1.6 VW Golf estate which is not ideal and she would obviously much prefer to use our car.

However, after checking Concur we can only claim back 22p per mile which doesn't seem like a lot to me.
Without fully working it out, I expect the running cost of the car to be around that amount - but that does not include any additional depreciation the miles will put onto it...or any extra wear and tear.

Our personal mileage is pretty low, so it probably won't make a huge difference but I'm recommending she just sticks to using pool cars for the time being.

or am I being too harsh on the 22p / mile mileage claim?
(she'll get all petrol paid for on a business trip of course).


I've listed both cars on Gumtree and just going to see what I get the best offer on before deciding which one I'll sell.
 
22p a mile to use your own personal car? Or for a company car?

If its for a personal car, that's a terrible rate - although you can claim tax relief on 23p a mile (HMRC rate is 45p)
 
iaind said:
22p a mile to use your own personal car? Or for a company car?

If its for a personal car, that's a terrible rate - although you can claim tax relief on 23p a mile (HMRC rate is 45p)
Click to expand...

Yeah sorry that's for use of our own personal car - in the interim period until she gets delivery of the company car (November)
The thing is, the rate is meant for company car users but they clearly don't have the system set up for using your own personal car so if we opt to use it I guess we'd be screwing ourselves over.

She'll just have to use the pool cars like the rest of us!!
 
Yeah the rate is not adequate - I get 35ppm and even that's not brilliant. If she does end up using personal car and having to claim lots of miles, remember to claim back the tax relief.

Pool cars, provided they're fit for purpose are a good way to go - costs you absolutely nothing in money or hassle!
 
I guess I'll say to use a pool car whenever possible - but if there are none available and it's really important she travels then she can use our personal car and claim it back, along with the tax relief as you say. But we should be able to keep it to a bare minimum.

The pool cars are fine, we're just used to having nicer cars - not so much the make/model, more that pool cars are just never as nice as your own personal car as people don't treat them too great.

But I've had to do plenty 4-5 hour drives down to Hemel in them and got stuck in a 7.5 hour drive to Gloucester (Cheltenham races traffic...worst journey ever) and survived so I'm sure she'll manage! lol
 
You must log in or register to reply here.
Back
Top Bottom