Company Car Options

[Scabutz]

Starting a new job which comes with a car allowance or option to take a car.

I don't start for a couple of months so have no more information than that currently.

Does anyone have an idea of what sort of cars are available and how far an 8k allowance will go? I assume the company just lease one on my behalf? I'll be doing fairly low mileage <10k and there is no business mileage.

It will have to be an EV for the BIK.

[Scabutz]

Thanks all. What the contract says is that I receive a non-pensionabke 8k allowance which I can elect to use part or all off and be provided with a car. So guess they do all the arrangements.

Trying to finance a car privately post tax on the 8k isn't going to go far.

Will have to wait till I've started and see what the options are. Trying to negotiate my notice down as currently I am doing absolutely nothing.

[Scabutz]

zedx19 said:

Your situation sounds different and I don't fully understand it, but it sounds like they are giving you an allowance to lease a car through their scheme?

So it's my salary is X then + 8k car allowance which I can take in cash or use part or all of it and have a car provided. I'm assuming that will be something they lease on my behalf.

I don't currently have a car as my wife kept it when we separated. I could take the cash and buy a car from savings and or loan, but by the time the tax man has taken its cut that 8k doesn't go far when I have to be paying tax, insurance, servicing etc.

If I can get a lease car through them and just give up some salary seems the most cost effective way of getting a car.