Company Car - opinions please
 

Two weeks ago the company I was working for went bust. Luckily I've just been offered a new job and its even on better money :¬)

The only question is they want me to have a company car. They do allow people to use their own car (and provide a car allowance to those that do) but only if its less than 3 years old.

I've got a 1999 2ltr V6 Connie Auto that I love. They want me to drive a Mazda. I'm sure they are fine, but just not my sort of thing.

Anyone know the financial position of using a company car? I guess I'll get taxed on it?

I guess I'll store mine on the drive for a couple of months but don't have a lot of space.

Unsure what opinions you seek, but can give this link to Gov.uk site where you can find all the facts about tax you'll pay on a company car. Hope it helps.

Give my mate Nick Poole a call on 0844 85 45 100. Compnay is Fleethire.

He has simple to use software that will give you all the answers on whether you are better off using a company car or your own. Cost, tax and all other considerations.

I've known him for 30 years and he is spot on. I will not give you his mobile number but I am sure the switchboard will put you through.

Victor.

I used to have company cars for quite a few years. Working for Ford I had a new car every 3-6 months! It's a really nice perk, especially when there is no insurance, road tax, servicing and repairs to worry about.

However, after 12 years of new cars I hankered after owning my own car. There is nothing quite like owning your own car, doing what you like with it, and knowing no one can take it away. As it turned out the cost of running my own car isn't that much different from the cost having company cars. Usually top of the range Fords, the amount of tax I had to pay on my '09 Focus RS would make your eyes water!

Luckily my boss now allows me to take home anything with fuel in it (without being taxed) so I save of fuel and the mileage stays down on my own car!

why sell your Connie?

macafee2

Aye, the op might wish to investigate what would happen to his NCB if he runs a company car.

I've never had a company car, so I don't know if being on a corporate policy would keep his NCB alive or not........ but I'd certainly look into the in's and out's before I'd risk losing my NCB. It might be wise to consider insuring the connie on a restricted mileage policy if only to keep his ncb alive.

Thanks for the replies - I looked at Fleet Hire's website and followed a link through to http://www.whatcar.com/news/check-company-car-tax-rate/
Now need to find which variant is being offered in order to check the tax.

I reckon I'd be much better off taking the car allowance if possible. The 75 isn't expensive to run as long as petrol is covered and running it for work would be better than either having it plus the company car or selling it and just having the Mazda.

The thing that irritates me most is that they think the company car presents a better image to the clients. I reckon, as long as its not a rust bucket, turning up in your own car is more interesting and the old girl is classy enough to hold her own.

Aye, as a consumer I find it annoying when a rep turns up in a shiny expensive car. I want VFM, and care far more about the companys good reputation than their image.

Any no claims bonus is lost after two years of having no policy as I found out to my cost when I went on the Motability fleet. 45 years NCB down the tubes :rant:

You can't win on this one.
If the car is too old or not expensive enough then they think the company isn't doing well and may be at risk of going under.

If too new or expensive then they think they are paying too much

My choice would be the car allowance.
If you know how much the car allowance is that you would get you can have a chat with a few dealers and see what they will offer on a business lease deal.
It doesn't need to be brand new and you can include maintenance as part of the deal and you still keep your NCB
Tax implications are usually better this way round to.
It all depends on how many miles you will be doing and what suits you though