Best lease car deals available?
Discussion
theboss said:
A personal lease contract binding you as an individual, with a limited company guarantor to secure a better rate... Has anyone actually claimed to have done this or is it just another hypothetical BIK-workaround you've made up?
Why not pick up the phone and ask them?10 minutes of your life to find out for and satisfy your curiosity.
gizlaroc said:
Sonic said:
Not again...
k off, there are legitimate ways to do it. Get the company to guarantee the car to get the business rate and makes sure you pay every penny yourself and you are fine.
king god are we actually doing this st again??? AGAIN?!?!gizlaroc said:
theboss said:
A personal lease contract binding you as an individual, with a limited company guarantor to secure a better rate... Has anyone actually claimed to have done this or is it just another hypothetical BIK-workaround you've made up?
Why not pick up the phone and ask them?10 minutes of your life to find out for and satisfy your curiosity.
A recurring and tiresome argument on this thread has been:
gizlaroc "you can sign a business lease, pay for it personally and avoid BIK liability"
myself and a few others "quite simply, if the contract is formed with the business, BIK arises... if its a personal contract, it doesn't"
etc etc
Now you've come back and changed your tune and stated that if you sign a personal contract, you avoid BIK. That's exactly what people have been telling you all along. The fact that you may be in some way negotiating with the lease company to get a personal contract at a preferential business rate is irrelevant, its still a personally binding contract. I am sceptical of your claim that lease companies will accept a limited company guarantor for a personal lease and lower rates accordingly, but will very humbly stand corrected if you provide evidence of this. I also consider it irrelevant as all the good deals I've seen lately, including the Golf R I ordered myself, are priced identically for business and personal leases, they are just listed net and gross of VAT respectively.
I'm a sole trader. My business is more than capable of comfortably guaranteeing several grand a month in lease payments. I'm not limited, but would be interested in benefiting from better rates for business. I'm VAT registered, but would not want a lease to be run through the business. So I'm quite interested in the concept of a business guaranteeing the payments in order to get a lower rate. But as I'm not limited, it's really just me guaranteeing that I'll pay up. There is zero chance of my business going bust. It'd put my properties etc on the line. Can I get business rates as a sole trader?
Or, this might be an odd one. Has anyone ever tried paying up the full lease cost up front? Or putting in such a big deposit that the payment was a fiver a month? I could pay cash for the full 2 or 3 years if that'd help. An enviable position perhaps. But I'm quite sold on leasing for less than depreciation. I just wish I could do it on the gear I have to buy for my business.
SWMBO is getting fed up of the Galaxy. It's coming on for 3 years old now, and despite not being a petrolhead she is getting more and more annoyed with the lack of go. And some of these deals look a heck of a lot cheaper than I've spent on depreciation in the past 3 years, for a better car.
I'm not trying to save the VAT if that then inflicts BIK. But if I can get the discounted business rates+vat, it looks to be cheaper than buying and tying up £££.
Or, this might be an odd one. Has anyone ever tried paying up the full lease cost up front? Or putting in such a big deposit that the payment was a fiver a month? I could pay cash for the full 2 or 3 years if that'd help. An enviable position perhaps. But I'm quite sold on leasing for less than depreciation. I just wish I could do it on the gear I have to buy for my business.
SWMBO is getting fed up of the Galaxy. It's coming on for 3 years old now, and despite not being a petrolhead she is getting more and more annoyed with the lack of go. And some of these deals look a heck of a lot cheaper than I've spent on depreciation in the past 3 years, for a better car.
I'm not trying to save the VAT if that then inflicts BIK. But if I can get the discounted business rates+vat, it looks to be cheaper than buying and tying up £££.
va1o said:
User33678888 said:
Blown2CV said:
M3 saloon £200pcm from lemon party leasing. Great deal. Apparently they'll accept personal users on a business lease, guaranteed no BIK and letter from HMRC saying they're totally fine with it.
Do you have a link?User33678888 said:
I'm a sole trader. My business is more than capable of comfortably guaranteeing several grand a month in lease payments. I'm not limited, but would be interested in benefiting from better rates for business. I'm VAT registered, but would not want a lease to be run through the business. So I'm quite interested in the concept of a business guaranteeing the payments in order to get a lower rate. But as I'm not limited, it's really just me guaranteeing that I'll pay up. There is zero chance of my business going bust. It'd put my properties etc on the line. Can I get business rates as a sole trader?
Yes you can. Business rates apply to all business types Ltd, Partnerships, Sole Traders etcBlown2CV said:
oh my fking god are we actually doing this st again??? AGAIN?!?!
It wasn't me starting it. king god are we actually doing this st again??? AGAIN?!?!I simply said "If you can lease it without BIK implications it seems a good price."
Then everyone started with "Not this s
t again." I wasn't suggesting trying to be crooked
, I was saying if you can get that price through a personal loan or getting your company to risk being guarantor then it sounds a good price. I don't know why the f
k everyone seems to get so wound up about it? I really don't get it. You are either in a position where you can do it a certain way or you can't, seems to me many get hot headed because they can't. Maybe they are just on the payroll and don't have a relationship with the bosses to ask them for other options, can't get accounts to speak with HMRC etc.
It all seems a bit bitter to me.
As soon as anyone mentions BIK all hell breaks loose, this is a thread for good lease deals, the deal has to include all monies paid, that includes BIK, tax on car allowance etc.
The guy was asking if an RS4 was a good choice if having it as a company car, the answer was no, but if you can do it without BIK implications it sounds an OK deal.
Edited by gizlaroc on Saturday 22 November 09:44
jas xjr said:
vescaegg said:
Blown2CV said:
M3 saloon £200pcm from lemon party leasing. Great deal. Apparently they'll accept personal users on a business lease, guaranteed no BIK and letter from HMRC saying they're totally fine with it.
Blown2CV said:
jas xjr said:
vescaegg said:
Blown2CV said:
M3 saloon £200pcm from lemon party leasing. Great deal. Apparently they'll accept personal users on a business lease, guaranteed no BIK and letter from HMRC saying they're totally fine with it.
xRIEx said:
gizlaroc said:
Blown2CV said:
oh my fking god are we actually doing this st again??? AGAIN?!?!
It wasn't me starting it. king god are we actually doing this st again??? AGAIN?!?!I simply said "If you can lease it without BIK implications it seems a good price."
Yes there are ways of doing it. Yes it's questionable if looked into wether HMRC would be happy with it. There are cases of people getting away with it and people not. You're not the PH tax advisor so just let people get on with making their own decisions.
Every time the letters BIK are mentioned everyone goes mental and it's bloody boring!
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