Company Car Drivers

[Beaker_Bob]

At my place those with a need for a company car are 3 years and 60k miles.  Those with a benefit for a company car are now 4 years and 90k miles.  I think the break even point for a company car has moved out in terms of miles per year, however i still very much value not having to tax / insure / maintain a car!

[Howsafe Workwear and Safety Equipment]

yes agreed - having a company car and paying the BIK on car and the fuel is considerably cheaper than buying your own car, suffering the depreciation, fuel and other running costs (on the equivelent new car)

and if you select the right car with reasonbly lowish value and low co2 you could be on to a real winner

My current motor to is a PHEV Outlander (actually after three years I really like it although it does have a low rent interior and some annoying foybles) and next up is probably the new 5 series PHEV in march next year

Back to the original point - I guess every company needs to make savings where it can - it's better that than pulling the plug altogether

I am amazed at how many companys supply company cars for employees that don't even need them!

 

 

[TAFKARM]

To be fair. I do 40k a year business miles so I need it!

[XTR2Turbo]

Surely with that mileage you will be changing it fairly often on mileage rather than time anyway.

[Howsafe Workwear and Safety Equipment]

1 hour ago, RussH said:

To be fair. I do 40k a year business miles so I need it!

do you ever take it on track

[TAFKARM]

1 hour ago, Howsafe Workwear and Safety Equipment said:

do you ever take it on track

ahem.

[jeff oakley]

We have differing rules dependant upon job spec and miles. I do 40k plus a year and mine are changed around 60-80k but others are straight three year lease.

I have had every sort of car but got fed up with seeing £500 per month going out my salary each month in car and fuel BIK. I got this time a Nissan Navara with every conceivable extra. It is classed as a van so tax is based on a flat £3k a year.

Sporty it is not but rides well, tows well and for odd tarmacking jobs or would you like to buy a dawg moment it is great.

[DamperMan]

I'm a bit bitter as I have just bought myself a car.   I bought a 2.5 year old 320d touring with 40k.   At under 1/3rd of its BIK value.   The choice of car is based on its developement potential:   Any parts developed will fit 'F' series 1,2,3,4  series cars.   It's ideal for visiting costomers,, collecting international customers from airports( I can't realistically use a Westfield or 28 year old camper), delivering stuff and demonstrations.   It will be as all my cars have been a long turn test bed for development of suspension.   Yet!   Since If i take the car home it would be classed as a 100% benefit not any share a development car. So I've paid for it my self...    If the company bought this  it would cost me 12k over 3 years in tax, plus a reduction in salary if the company paid for it.   Yet it cost under 11k to buy myself and will be worth something in 3 years time.   

If I would have bought a new car then using getting the business to pay for a lease car and paying the tax would be fine. But with the stuff w'd do to it a lease car really the company would need to buy the car outright.   There are better investments I can make than something which would loose 2/3rd of its value in 2.5years.  And for me to personally pay a fortune in tax.  I am a little bitter as there is no discression to personal benefit.   If I just wanted a freebee I'd have a Nissan Leaf with no benefit to the company and steal company electric to feed it

[XTR2Turbo]

you now pay BIK on electric cars also 

[Vogalogue]

We just get them replaced "as and when" My old one was just replaced at 55 years old and 97k miles.

We are also no longer allowed to "opt out".. which is a bit of a  pain.. but company rules also stipulate that we must have a 5 door diesel.. and I don't really want to buy one of those

[John K]

3 hours ago, Vogalogue said:

 but company rules also stipulate that we must have a 5 door diesel.. and I don't really want to buy one of those

Well, according to my betters on this forum, there are plenty of really sporty diesels to choose from... 

And don't argue with the powers that be, or you will find your personal details and address being edited... 

[shrops-paul]

3 years, 60k miles. Although the car allowance has been the same amount for about 5 years whilst  the lease rates assigned have gone up

[MK11]

Back in the day when I worked for the company formerly known as Cosworth we had an amazing scheme.  I used to change my cars every 9,000 miles which worked out as about 3 months, oh and to top it all off we had an agreement with the tax office so that the car was treated as a interest free loan and taxed at a stupidly low rate rather than the usual BIK rates.  Then we got sold again and had to switch to a more normal 3 year BIK scheme, boo hiss.

Mind you, I haven't had a company car for many years now so I have to buy my own.

[Kingster]

On 04/09/2017 at 12:27, Vogalogue said:

We just get them replaced "as and when" My old one was just replaced at 55 years old and 97k miles.

What was it then? Cortina, Consul, Anglia.... must be worth a bit by now 

[Vogalogue]

On ‎08‎/‎09‎/‎2017 at 04:58, Chris King - Webmaster and Joint North East AO said:

What was it then? Cortina, Consul, Anglia.... must be worth a bit by now 

Ha... The time traveling 118d!