Company Car Alternative
Discussion
I have the option to get out of the company car scheme and take the cash. The problem is that I do 30K motorway miles a year. My current car is a BMW 325CI and has been completely reliable (I am still on my second set of tyres and original brake pads).
What I'm thinking is would it be cheaper to stay in the scheme (my current car costs me including tax, etc about £8K/year, but includes insurance, tax and servicing, etc). Or opt out and buy a low mileage Boxster for £25K, run it for 3 years (so 100K+ miles) and then chop it in. Servicing would costs about £3500 (£300 x 10) + a set of tyres (assuming nothing blows up), car tax and insurance about £2500 and depreciation about £10K (complete guess). So total costs would be about £16K compared with £24K. A saving of £8K excluding any tax relief I get for Business Miles.
On paper this seems like a no-brainer, however would a Boxster provide reliable transport if I was using it everyday and more importantly is it comfortable enough to spend 2 hours in every day.
Finally should go for a 2.5 or 2.7, Tip or manual.
Please note this is not a fun/track car (I have a 964 C2 for that
) this is just to get me to work and back.
Your thoughts please.
Many thanks Andy
What I'm thinking is would it be cheaper to stay in the scheme (my current car costs me including tax, etc about £8K/year, but includes insurance, tax and servicing, etc). Or opt out and buy a low mileage Boxster for £25K, run it for 3 years (so 100K+ miles) and then chop it in. Servicing would costs about £3500 (£300 x 10) + a set of tyres (assuming nothing blows up), car tax and insurance about £2500 and depreciation about £10K (complete guess). So total costs would be about £16K compared with £24K. A saving of £8K excluding any tax relief I get for Business Miles.
On paper this seems like a no-brainer, however would a Boxster provide reliable transport if I was using it everyday and more importantly is it comfortable enough to spend 2 hours in every day.
Finally should go for a 2.5 or 2.7, Tip or manual.
Please note this is not a fun/track car (I have a 964 C2 for that
) this is just to get me to work and back. Your thoughts please.
Many thanks Andy
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