Another company car thread...
Discussion
I am starting a new role which comes with a car allowance. The manufacturers available are:
Audi
BMW
Ford
Honda
Lexus
Mercedes
Mini
Renault
Toyota
Vauxhall
VW
Volvo
Current car is a Clio 200. New job will involve a longer commute including some motorway driving so I'm looking for something a bit less Hardcore (Clio 200 has the optional 'cup pack') but still with great handling an at least as much poke as the Clio.
The car must have <160 g/km (company rules). Will only be doing around 12k per year, so no need for Diesel.
My current front runners are the BMW 328i (looks great all rounder) and the BMW Z4 28i Roadster (great reviews but perhaps not practical enough).
Any view on these two, or other suggestions?
Audi
BMW
Ford
Honda
Lexus
Mercedes
Mini
Renault
Toyota
Vauxhall
VW
Volvo
Current car is a Clio 200. New job will involve a longer commute including some motorway driving so I'm looking for something a bit less Hardcore (Clio 200 has the optional 'cup pack') but still with great handling an at least as much poke as the Clio.
The car must have <160 g/km (company rules). Will only be doing around 12k per year, so no need for Diesel.
My current front runners are the BMW 328i (looks great all rounder) and the BMW Z4 28i Roadster (great reviews but perhaps not practical enough).
Any view on these two, or other suggestions?
FreeLitres said:
Before you decide, look at the company car tax implications!!!!!
It's based on CO2 and list price - That why most people choose diesel.
I missed this first time round but isn't this a car allowance though, rather than a company car strictly?It's based on CO2 and list price - That why most people choose diesel.
Even if it is a company car, the difference between a 328i and a 320d ED is about £75/month, of which about £15 is down to list price. That's a car that does 0-60 in 5.9 vs 8.0 seconds, and which has 50% more power, so not a mental difference.
CYMR0 said:
Only issue is the equipment on the 328i... only comes in "Modern" (beige) or "Luxury" (soft and expensive) versions.
125i M Sport looked tempting but it's slower and thirstier than the 3, though probably sufficiently cheaper to be at least worth quoting on.
328i comes as an SE too.125i M Sport looked tempting but it's slower and thirstier than the 3, though probably sufficiently cheaper to be at least worth quoting on.
In reality there will be little difference between the 328i and 125i in terms of MPG. From what I have read the 328i is a bit thirstier than the figures suggest...it's official EPA economy figures have been re-rated in the USA as it was found to be so far off BMW's claims. It's very rare for that to happen so I understand.
There isn't much in it between the higher output diesels and the petrol turbos in terms of tax: You can be knocking on the door of £300 a month in tax in a C250CDI if you put enough options on it.
texasjohn said:
328i comes as an SE too.
In reality there will be little difference between the 328i and 125i in terms of MPG. From what I have read the 328i is a bit thirstier than the figures suggest...it's official EPA economy figures have been re-rated in the USA as it was found to be so far off BMW's claims. It's very rare for that to happen so I understand.
There isn't much in it between the higher output diesels and the petrol turbos in terms of tax: You can be knocking on the door of £300 a month in tax in a C250CDI if you put enough options on it.
Good that it comes as an SE because the Modern is feckin' horrible. Maybe ze Chermans will like it. Also knocks a bit off the company car tax too. In reality there will be little difference between the 328i and 125i in terms of MPG. From what I have read the 328i is a bit thirstier than the figures suggest...it's official EPA economy figures have been re-rated in the USA as it was found to be so far off BMW's claims. It's very rare for that to happen so I understand.
There isn't much in it between the higher output diesels and the petrol turbos in terms of tax: You can be knocking on the door of £300 a month in tax in a C250CDI if you put enough options on it.
The US fuel economy thing was when the manufacturer's results were better than the EPA running the same test, not because of "real world" responses and while it is definitely unusual, they haven't changed the testing process.
http://www.bmwblog.com/2012/03/21/bmw-forced-to-lo...
Of course at 12k a year, it's probably acceptable if it only manages 35mpg in the real world instead of the claimed 45 mpg, as long as the CO2 rating fits. (And yes, I would be sceptical about the claimed economy - I suspect it's gaming the system rather than outright lying of course).
GreatGranny said:
Look like the 328i is lower CO2 than the 325i coupe. Strange or is the 325 the older 6 cyclinder engine?
The coupe is still based on the E90 platform, so it has all the old engines. It's not been updated to the new platform yet.Consequently...
The (E92) 325i coupe has a 3 litre i6 engine, naturally aspirated.
The (F30) 328i saloon has a 2 litre i4 turbo engine, hence the lower CO2 emissions.
The new (F30-platform) coupe, when it does come, will be internally referred to as F32.
It might have a 3-series badge, or even a new 4-series badge...
C
nammynake said:
CYMR0 said:
£350/month.
£140 of that is tax @ 40%, leaving you £190, or £175 if you want to put up three months' deposit.
That gets you a basic Polo, 207, etc...
I have played around on the Lex Autolease site and the 328i is coming out at £192 per month at 40%. What am I missing?£140 of that is tax @ 40%, leaving you £190, or £175 if you want to put up three months' deposit.
That gets you a basic Polo, 207, etc...
ETA.....How are you getting the quotes of their website? The only thing I can find is a car selector, that they then e-mail you the quote or the Tax Calc.......which for a 328 Modern come out at about £200 a month.....which is alone more then your allowance.
Edited by KrazyIvan on Friday 11th May 09:05
nammynake said:
CYMR0 said:
£350/month.
£140 of that is tax @ 40%, leaving you £190, or £175 if you want to put up three months' deposit.
That gets you a basic Polo, 207, etc...
I have played around on the Lex Autolease site and the 328i is coming out at £192 per month at 40%. What am I missing?£140 of that is tax @ 40%, leaving you £190, or £175 if you want to put up three months' deposit.
That gets you a basic Polo, 207, etc...
If you are given a car allowance, you will pay tax on the amount as if it were income (so I guess 40%). You can then spend the net amount and there is no company car tax.
If you are given a company car, you will be BiK taxed based on P11d price of the car at a % based on Co2.
Which one is it?
Matt UK said:
If you are given a car allowance, you will pay tax on the amount as if it were income (so I guess 40%). You can then spend the net amount and there is no company car tax.
If you are given a company car, you will be BiK taxed based on P11d price of the car at a % based on Co2.
Which one is it?
^^ This.If you are given a company car, you will be BiK taxed based on P11d price of the car at a % based on Co2.
Which one is it?
The rest of the thread is pointless.
Matt UK said:
WTF? You can lease a 328i for £192 per month?
If you are given a car allowance, you will pay tax on the amount as if it were income (so I guess 40%). You can then spend the net amount and there is no company car tax.
If you are given a company car, you will be BiK taxed based on P11d price of the car at a % based on Co2.
Which one is it?
The only information I have so far is that I will receive an annual allowance of £4200, which can be used to lease a car through Lex Autolease, or presumably take the cash (taxed).If you are given a car allowance, you will pay tax on the amount as if it were income (so I guess 40%). You can then spend the net amount and there is no company car tax.
If you are given a company car, you will be BiK taxed based on P11d price of the car at a % based on Co2.
Which one is it?
I'm guesting the £192 per month is actually the tax you'd pay if the 328i was a company car rather than a car you are funding from a car allowance.
By my reckoning a bog standard 328i is going to be +£400 per month as a company car, and if you're planning a personal contract hire funded by car allowance then add the vat so knocking on £500 a month.
If it is a car allowance, whilst I understand peoples comments that it's £350 per month minus 20 or 40% tax, actually if you took a company car you'd be paying tax on that anyway so I would treat the £350 as net
However you're not going to fund a new 328i with £350 a month, do you have to buy new if it's an allowance?
ETA - Chris beat me to it
By my reckoning a bog standard 328i is going to be +£400 per month as a company car, and if you're planning a personal contract hire funded by car allowance then add the vat so knocking on £500 a month.
If it is a car allowance, whilst I understand peoples comments that it's £350 per month minus 20 or 40% tax, actually if you took a company car you'd be paying tax on that anyway so I would treat the £350 as net
However you're not going to fund a new 328i with £350 a month, do you have to buy new if it's an allowance?
ETA - Chris beat me to it
nammynake said:
The only information I have so far is that I will receive an annual allowance of £4200, which can be used to lease a car through Lex Autolease, or presumably take the cash (taxed).
Right. I'd take the Lex car, any car up to a budget of £350 a month isn't going to cost much in BIK tax anyway.You can either:
1. Take the Lex car, spend a budget of £350 a month through Lex, and have a fully expensed car that you will pay BIK tax on, or:
2. Take £350 a month extra salary, which you will pay tax and NI on leaving you with about £200 in your pocket, and run your own car using that £200 towards the cost.
In similar circumstances to you I took the cash for the first year and ran a 330d, which I had £15000 of my own money 'tied up' in. I realised that £200 a month just about covered depreciation on a reasonably new car.
At the end of the first year I forfeited the cash and used the allowance to get a car through Lex. I got a 118d SE with a few options, fully expensed, for a cost to me of £285 a month. (£200 no longer in my pocket each month plus £85 BIK tax each month). I put over 20000 miles a year on that car and never worried about it during the time I had it, just make a call when the tyres need changing, it needs a service etc, all covered by Lex.
A Mini Cooper S or Polo GTI will not work out too dissimilar if you'd rather something a bit nippier.
Edit to add: Ask your new company for the Lex monthly price list. I think you will find that a Z4 28i is somewhere in the region of £500-600 a month on the lease list. Maybe you can top up your allowance from £350 to the required payment. Other than the fact it is a lot to put into a car, BIK will be a £220-250 a month on top of that too and if you leave the company before the lease is up they will probably expect you to pay a lump sum of the top up values outstanding.
Edited by texasjohn on Friday 11th May 12:19
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