Best lease car deals available?

[Dog Star]

Blown2CV said:

thought this might amuse you. The Golf R deals are that cheap that they're even attracting the attention of the posters in one of the barge bargains threads, despite it being polar opposite proposition in terms of car and ownership model. Someone came along to ask about monthly anticipated barge ownership costs, using the Golf R as an example of 'the other way' and the general response was "oh, that's really cheap actually". Lol. Not much protestation, only from me really!

The friends of ours that got us "into" this leasing cars thing had a Golf R ordered. They'd been waiting months for it, her SLK had gone back and it was due a couple of weeks ago. About a week before the promised delivery date VW (or whoever it was - I don't know all the ins and outs yet) cancelled their order.

[N88]

AGK said:

VW have always had good prices for leasing these but you have to prove you have a business.

Once you add BIK it isn't that attractive.

Except you wouldn't provide it to the director as a company car, it would just be a £165 payment to their loan account.

Also wouldn't apply to the self employed.

Edited by N88 on Monday 29th September 12:52

[Josh300]

N88 very true!

[Derwins Revenge]

N88 said:

AGK said:

VW have always had good prices for leasing these but you have to prove you have a business.

Once you add BIK it isn't that attractive.

Except you wouldn't provide it to the director as a company car, it would just be a £165 payment to their loan account.

Also wouldn't apply to the self employed.

Edited by N88 on Monday 29th September 12:52

How does this work then? I thought you either have company car and pay BiK, or have a car allowance but then you can't get the business deals as it would be a personal contract hire. Love to hear more as I'm just about to order my next company car...

PS, not calling you out on what you've said, but if there's a way to avoid BiK on a company car I need to know

[Blown2CV]

N88 said:

AGK said:

VW have always had good prices for leasing these but you have to prove you have a business.

Once you add BIK it isn't that attractive.

Except you wouldn't provide it to the director as a company car, it would just be a £165 payment to their loan account.

Also wouldn't apply to the self employed.

Edited by N88 on Monday 29th September 12:52

it comes up i'd say every month, some tard thinks they can play the tax/business lease system. Presumably you think you're literally the first person to think of that, yes?

[Unlight]

russ_a said:

Golf R is back to £165 plus vat for business users. Apparently VW dealers have been complaining to VW about the cheap personal lease deals and the mass of people walking into showrooms with a print out.

I've given on on trying to get a R this year (14v week lead-time) and will be placing an order for the GTD tomorrow....

Did you end up placing an order for a GTD - if so are there any decent deals about?

[Snollygoster]

Unlight said:

Did you end up placing an order for a GTD - if so are there any decent deals about?

VW were offering a £1,000 dealer bonus on leased Golf R/GTI/GTD up until 30th September. Not sure what the deals are like, but if you're in the market, today or tomorrow's probably the time.

[BrabusMog]

Surprised that I'm unable to find anything decent on a replacement E class Coupe at the moment, might be time to start looking at the 4 Series.

[theboss]

Blown2CV said:

N88 said:

AGK said:

VW have always had good prices for leasing these but you have to prove you have a business.

Once you add BIK it isn't that attractive.

Except you wouldn't provide it to the director as a company car, it would just be a £165 payment to their loan account.

Also wouldn't apply to the self employed.

Edited by N88 on Monday 29th September 12:52

it comes up i'd say every month, some tard thinks they can play the tax/business lease system. Presumably you think you're literally the first person to think of that, yes?

Agreed - we see this a lot. As compelling as the £165+VAT deal is, I simply don't want a vehicle contract *anywhere near* my company, in terms of either the binding contract and associated paper trail, or the payments on the company books, whether they are 'disguised' as directors' personal expenditure or not. I suspect anyone doing this and 'getting away with it' will be in for a rude awakening when its their turn for a routine VAT or PAYE inspection.

Edited by theboss on Monday 29th September 20:57

[gizlaroc]

Blown2CV said:

it comes up i'd say every month, some tard thinks they can play the tax/business lease system. Presumably you think you're literally the first person to think of that, yes?

And of course it doesn't work does it?

I mean, if you were to set up all payments from your bank account, and not put any paperwork at all through the company so there was no trace what so ever, and then all fuel and servicing is paid for you by you, why would anyone even worry about it.

I asked the Inland Revenue about the implications of my company guaranteeing a lease car as I was getting car allowance and pence per mile in lieu of a company car, and they said as long as everything was being paid personally then there was no BIK tax implications.
Now, I suppose I was being a bit 'lose' with the guaranteeing thing, but I honestly don't think they mind, as long as the company is not writing it down, claiming back vat, contributing a penny towards the repayments or the upkeep.


However, I doubt many companies would want to do it as they would be liable for it if you decided to bugger off an not pay them.

[Snollygoster]

I'd have said you could 99% get away with it and HMRC would never pick it up. The only documents that the car is in the companies name is on the manufactures database, that's all. But you never know.

It's very low risk vs high reward. I personally would go down that route if I had the option.

The cost of a company car is going up and up. It's now so much as a perk as it once was, and now just a cost. Especially when someone companies tell you it has to be one of these 3 badges, under 130 Co2, max P11d of £30k. It was a right battle to get a car allowance for me - definitely not a perk of the job.

Edited by Snollygoster on Monday 29th September 18:14

[Blown2CV]

Dog Star said:

Blown2CV said:

thought this might amuse you. The Golf R deals are that cheap that they're even attracting the attention of the posters in one of the barge bargains threads, despite it being polar opposite proposition in terms of car and ownership model. Someone came along to ask about monthly anticipated barge ownership costs, using the Golf R as an example of 'the other way' and the general response was "oh, that's really cheap actually". Lol. Not much protestation, only from me really!

The friends of ours that got us "into" this leasing cars thing had a Golf R ordered. They'd been waiting months for it, her SLK had gone back and it was due a couple of weeks ago. About a week before the promised delivery date VW (or whoever it was - I don't know all the ins and outs yet) cancelled their order.

VW executed a raft of cancellations because certain unscrupulous brokers were putting private individuals through on business-only deals as sole traders in order to qualify, often without the customer's knowledge. I feel bad for your friend.

[Blown2CV]

gizlaroc said:

Blown2CV said:

it comes up i'd say every month, some tard thinks they can play the tax/business lease system. Presumably you think you're literally the first person to think of that, yes?

And of course it doesn't work does it?

I mean, if you were to set up all payments from your bank account, and not put any paperwork at all through the company so there was no trace what so ever, and then all fuel and servicing is paid for you by you, why would anyone even worry about it.

I asked the Inland Revenue about the implications of my company guaranteeing a lease car as I was getting car allowance and pence per mile in lieu of a company car, and they said as long as everything was being paid personally then there was no BIK tax implications.
Now, I suppose I was being a bit 'lose' with the guaranteeing thing, but I honestly don't think they mind, as long as the company is not writing it down, claiming back vat, contributing a penny towards the repayments or the upkeep.


However, I doubt many companies would want to do it as they would be liable for it if you decided to bugger off an not pay them.

so if you're paying for it personally out of a loan (or indeed through whatever personal funding) how does that qualify for business user only then?

[Snollygoster]

Blown2CV said:

so if you're paying for it personally out of a loan (or indeed through whatever personal funding) how does that qualify for business user only then?

It wouldn't be funded through a personal loan or anything like that. Would just go through the relevant finance company, although payments are taken out of your personal bank account rather than a company account.

[Thankyou4calling]

BUGGER!

Just seen this deal from Freedom.

I've just taken delivery of an E Class convertible and at the time the CLS was £200 more.

Mercedes CLS250 CDI AMG Sport 4Dr Coupe AutoDelivery time2 weeksMetallic
Leather
Comand
18'' Alloys
Business deal£288.99+VAT per monthPersonal deal £379.19 inc VAT per month

Fantastic deal I think.

[SausageBap]

Haven't seen many of these on the road at the moment.
Mercedes GLA 220 CDI £263.99 inc VAT 6+23 10k in stock.

http://www.gateway2lease.com/z_mercedes_gla_220cdi...

[Snollygoster]

Thankyou4calling said:

BUGGER!

Just seen this deal from Freedom.

I've just taken delivery of an E Class convertible and at the time the CLS was £200 more.

Mercedes CLS250 CDI AMG Sport 4Dr Coupe AutoDelivery time2 weeksMetallic
Leather
Comand
18'' Alloys
Business deal£288.99+VAT per monthPersonal deal £379.19 inc VAT per month

Fantastic deal I think.

9 upfront thought mind.

[theboss]

gizlaroc said:

Blown2CV said:

it comes up i'd say every month, some tard thinks they can play the tax/business lease system. Presumably you think you're literally the first person to think of that, yes?

And of course it doesn't work does it?

I mean, if you were to set up all payments from your bank account, and not put any paperwork at all through the company so there was no trace what so ever, and then all fuel and servicing is paid for you by you, why would anyone even worry about it.

I'd worry about it personally, because if HMRC were to discover the arrangement its highly probable they would argue that BIK rules apply, issue a backdated demand and then take you to court - and probably win. On the balance of these probabilities, in my mind, it isn't worth taking the risk in bending the rules. Just to be clear, I don't *like* it any more than you and everyone else who makes the same argument.

This is very relevant - http://www.bailii.org/uk/cases/UKFTT/TC/2010/TC004...

47. The Tribunal found that even if there had been such an agreement, the legislation was not concerned with agency or any other law. It stipulated the correct tax treatment to be used when an employer provides a car for its employees. The contract was in the name of the Company, the legislation was satisfied and so a benefit arose.

Edited by theboss on Monday 29th September 21:24

[Thankyou4calling]

Snollygoster said:

9 upfront thought mind.

Indeed! That's what I put up front on my E class.

[Blown2CV]

Snollygoster said:

Blown2CV said:

so if you're paying for it personally out of a loan (or indeed through whatever personal funding) how does that qualify for business user only then?

It wouldn't be funded through a personal loan or anything like that. Would just go through the relevant finance company, although payments are taken out of your personal bank account rather than a company account.

I didn't say personal loan, I was actually thinking you were on about a director's loan. In any case if you're paying out your personal account, what makes that anything to do with the company, director or not? Also you're directly linked to the car, how is there no paper trail as you're saying?