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Thread: Company Car or Allowance

  1. #1
    Regular Member denzo's Avatar
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    Default Company Car or Allowance

    Just thinking .... in this current economic climate ...

    Does it work out tax efficient to have a company car or to take the allowance and be taxed on it.

    Was thinking of getting a company car ... but not too sure the figures add up. Could buy a nearly new good spec car ... S80 V8 AWD at £15K


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    Regular Member VectraV6CDTi's Avatar
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    All depends on the allowance they are going to give you. And then it all depends on the company cars you are allowed.
    When I've had company cars in the past my choice has been limited. If this is the case and the allowance is good then go for the allowance.

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    Regular Member denzo's Avatar
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    Allowance circa £9K per annum
    Car Choicr .... virtually any.

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    Regular Member gtr1000's Avatar
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    Trim : Sri

    Engine : 140 Ecoflex S/S

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    I always went down the co.car route for the sake of convinience - no hassle with servicing (company pay), breakdowns (not your problem), accidents (company do all the paperwork), repairs to bodywork (not your car so company sort it out), insurance (no worries), tyres (change em when you're fed up or bored with em) and a few more.

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    Regular Member denzo's Avatar
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    was thinking of a Range Rover Sport HSE

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    Regular Member Super T's Avatar
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    If a ford focus cost me say £8000 fully expensed!! your welcome to the Range rover sport.But it depends on milage, co2 and the price of the car.

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    Regular Member VectraV6CDTi's Avatar
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    Quote Originally Posted by denzo View Post
    Allowance circa £9K per annum
    Car Choicr .... virtually any.
    At £750 a month before tax, I'd be looking at buying my own . Thats a good allowance.
    The main disadvantage of a company car are the tax related to the emissions. It would stop you getting a high emssion car as the tax would be through the roof (mind you, so would road tax if you run one yourself - but not as much I think). So this limits your choice if you want something exotic.
    Also, once you take delivery of a company car you are stuck with it for the lease term, 3/4 years. So if you fancy a change or just dont like the car you are stuffed.
    Other minor niggles are things like tyre choice, The lease company usually insist of a certain make of tyre (usually hard wearing - but cr@p performance ).

    But a company car is fully expensed and hassle free and you often have a choice to buy it at the end of the lease term, usually at a good price. This is good as you know the full history of the car.

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