Compnay car v Shed V personal lease

[ewan221]

On previous thread I mentioned that my boss had offered me a BMW 530 to replace my A4 that I currently have as a company car with no additional payments apart from any incraese in tax

 

Looks like it will cost me £200 a month in tax more than Im paying for the A4 so think I will have to pass it up

 

I didnt actually realise that having the A4 as a company car costs me £140 a month in additional tax so now thinking is it worthwhile ????

 

If I dont take car I get £450 a month car allowance (taxed) and will pay less tax but would have to buy something for work (have to have a 4 door car - company policy) that does reasonable mpg but if I get a new company car car next year I will be getting a brand new car, no tax or insurance to pay and all servicing and repairs paid for and a hire car if its off road at all.

 

So do I buy a decent shed, maybe personal lease or just go with the new company car.

[craigo]

Have a search on google as there are some sites which work out the tax for you. I think one is called "car or cash", or something like that. I would also factor in things like insurance (You need full on company car cover) and tyres etc if you go it alone. You only need to damage a single tyre in a month to go badly into the red. If you go for a copmany car, just be really careful on the CO2 rating. My 2.4 Alfa nearly killed me on tax for its final year, as it was 179g or something.

[ewan221]

Got the exact figures from payroll - Im paying £2272 a year for the A4 and would pay £4014 for the 530 so basically an extra £145 a month. While I would def prefer the 530 mot so sure I want to shell out an extra £145 a month.

 

Cheers for the cash v car thing :-)

[Zugara]

I would take the cash and buy my own car, as I did when I had the same option as you. I just got fed up of giving more taxes to the system.

 

Worked out better for me as i could choose the car i wanted.