Company Cash Allowance - car ideas?
Discussion
Hi chaps,
So my role involves a rather long commute from just south of Oxford to Weybridge - it's around 60 miles each way, 120 miles total. I'm not in the office all the time, as I have an office at home and some days I'm in the city, so jump on the train those days. When all is said and done I do between 15-20k per year including my personal mileage.
I take a cash allowance from my employer rather than a company car, simply due to the flexibility in choice and the fact that my role does not class me as an 'essential user' for a company vehicle. The net result in my wage is a boost of around £230 per month towards a car (high rate taxpayer) - and I'm in a position now of needing a new vehicle. For reference we also have an Evoque which my wife tends to drive and I'm not particularly keen on having a 3rd car as a 'weekend car' as this will be fulfilled by a motorbike.
Where I come unstuck is quite simply where any 'petrolhead' does... choices! My sensible head is telling me to jump on one of the great leases like the Skoda Octavia Scout at £199pcm with a very small deposit - but my heart is telling me I'll regret the choice and that I should go with something a little more exciting. I'm not too fussed whether it's petrol/diesel but would like an Auto preferably - and would like to try and keep monthlies under £400 if possible. I've had a test drive in a 335i GT which surprisingly got under my skin but maybe I just need to keep my eyes on the Lease deals thread and not be so choosy about the car...
Given the mileage and motorway usage, I would say that comfort and a decent sound system have to come above the dynamics of the drive. After all I'll be spending time in the car commuting, not going round a track... No age restrictions on the car, but newer would be preferable - even looked at the likes of Lexus / Volvo which are lovely sofas!
Thoughts? Perhaps just get a dirt cheap APR personal loan and go for something 4-5 years older?
Arrrggghhh!
So my role involves a rather long commute from just south of Oxford to Weybridge - it's around 60 miles each way, 120 miles total. I'm not in the office all the time, as I have an office at home and some days I'm in the city, so jump on the train those days. When all is said and done I do between 15-20k per year including my personal mileage.
I take a cash allowance from my employer rather than a company car, simply due to the flexibility in choice and the fact that my role does not class me as an 'essential user' for a company vehicle. The net result in my wage is a boost of around £230 per month towards a car (high rate taxpayer) - and I'm in a position now of needing a new vehicle. For reference we also have an Evoque which my wife tends to drive and I'm not particularly keen on having a 3rd car as a 'weekend car' as this will be fulfilled by a motorbike.
Where I come unstuck is quite simply where any 'petrolhead' does... choices! My sensible head is telling me to jump on one of the great leases like the Skoda Octavia Scout at £199pcm with a very small deposit - but my heart is telling me I'll regret the choice and that I should go with something a little more exciting. I'm not too fussed whether it's petrol/diesel but would like an Auto preferably - and would like to try and keep monthlies under £400 if possible. I've had a test drive in a 335i GT which surprisingly got under my skin but maybe I just need to keep my eyes on the Lease deals thread and not be so choosy about the car...
Given the mileage and motorway usage, I would say that comfort and a decent sound system have to come above the dynamics of the drive. After all I'll be spending time in the car commuting, not going round a track... No age restrictions on the car, but newer would be preferable - even looked at the likes of Lexus / Volvo which are lovely sofas!
Thoughts? Perhaps just get a dirt cheap APR personal loan and go for something 4-5 years older?
Arrrggghhh!
I've seen many Golf R leases still available for a deposit of around £2500 and £250 a month inc of VAT.
The other option is to buy a smaller car for not much money. A mate of mine just picked up a 2005 Clio 182 for £2300 with 60k on the clock, Scorpion exhaust and upgraded discs and pads.
It did 40mpg on the drive back, few niggles and needs the belts doing but you can't really argue for the outlay.
Not an auto admittedly.
Ultimately do you want more money to spend on toys and have a cheap/boring car on a lease deal (eg the Scout deal you mentioned which is good) or do you want to spend more of your money on something big like a 335i which you may not enjoy fully apart from at the weekends.
The other option is to buy a smaller car for not much money. A mate of mine just picked up a 2005 Clio 182 for £2300 with 60k on the clock, Scorpion exhaust and upgraded discs and pads.
It did 40mpg on the drive back, few niggles and needs the belts doing but you can't really argue for the outlay.
Not an auto admittedly.
Ultimately do you want more money to spend on toys and have a cheap/boring car on a lease deal (eg the Scout deal you mentioned which is good) or do you want to spend more of your money on something big like a 335i which you may not enjoy fully apart from at the weekends.
I should have probably said my current steed is a 182 Trophy with Orbisound exhaust... I LOVE it as a B-Road weapon, but on the commute it's really grinding and it's becoming a bit of a nuisance despite a couple of the clients loving a trip in it!
I didn't realise the Golf R deals were still around that sort of price as that seems ideal for my budget? Could be a top option to be honest, though the lead times look a little long? I might go speak with VW also to see what they can do here... even a GTI might be a sensible option.
I think I need to make a more firm decision on money, and I suspect the Evoque has made me want something a little more luxurious than a boggo commuter which is the problem - but it doesn't need to be anything crazy, just not a buzzy, solid hatchback that crushes the spine on our broken roads. Seems a shame to be using the Trophy in such a way and diminishes my love for it apart from at the weekend!
I didn't realise the Golf R deals were still around that sort of price as that seems ideal for my budget? Could be a top option to be honest, though the lead times look a little long? I might go speak with VW also to see what they can do here... even a GTI might be a sensible option.
I think I need to make a more firm decision on money, and I suspect the Evoque has made me want something a little more luxurious than a boggo commuter which is the problem - but it doesn't need to be anything crazy, just not a buzzy, solid hatchback that crushes the spine on our broken roads. Seems a shame to be using the Trophy in such a way and diminishes my love for it apart from at the weekend!
The killer with leasing is your mileage.
Cost goes up quite a bit when you hit 10k+.
Keep an eye on the Lease thread. excess mileage can be as little as 6ppm+VAT so sometimes worth going over the allowance and paying the charges.
For £400pcm you have access to quite a lot of nice cars using other methods of finance.
£10k over 3 years is about £300 pcm on a loan.
Cost goes up quite a bit when you hit 10k+.
Keep an eye on the Lease thread. excess mileage can be as little as 6ppm+VAT so sometimes worth going over the allowance and paying the charges.
For £400pcm you have access to quite a lot of nice cars using other methods of finance.
£10k over 3 years is about £300 pcm on a loan.
http://www.nationalvehiclesolutions.co.uk/Volkswag...
Personal Deal£280.70per month INCL VATInitial Rental£2,526.30 INCL VAT
Or, settle for a GTD (still an awesome car) - Remaps net them up to 240bhp.
http://www.nationalvehiclesolutions.co.uk/Volkswag...
Personal Deal£175.74per month INCL VATInitial Rental£1,800.00 INCL VAT
Personal Deal£280.70per month INCL VATInitial Rental£2,526.30 INCL VAT
Or, settle for a GTD (still an awesome car) - Remaps net them up to 240bhp.
http://www.nationalvehiclesolutions.co.uk/Volkswag...
Personal Deal£175.74per month INCL VATInitial Rental£1,800.00 INCL VAT
Agreed - as you say it's the mileage with leasing that causes me an issue - but I'm not averse to extending my budget up nearer £500 - which should get me in something a little more plush on PCP over 3 years.
Had a bit of a chat with BMW earlier over a 335i at around the low £30k mark, they seem to stick PCP APR at around 10.9%, but I could get a loan for the full amount (HP effectively) at only 6.9% APR, so he's gone away to see what can be done in regards to financials... they also seem to struggle in shifting the 335i's - I've been watching a couple of low mileage, well specc'd examples which have been around for a couple of months, so there may be a route in that way.
I'm pretty sure I could even get into a Golf R direct with VWFS on PCP for around the £500pcm mark with a relatively small deposit over 3 years and the mileage I need with options too.
Will keep my eye on the lease deals thread over the next couple of weeks while I research some more. New Focus ST sounds like a bit of a bargain! Is that the ST-3 as well with the toys? Least I wouldn't have a temptation to want to go ticking an options list which kills you on a lease... Think I need to weigh up what I want and then look at the different options of getting into such a car - the trade offs and the cost of ownership over the duration for each route.
Had a bit of a chat with BMW earlier over a 335i at around the low £30k mark, they seem to stick PCP APR at around 10.9%, but I could get a loan for the full amount (HP effectively) at only 6.9% APR, so he's gone away to see what can be done in regards to financials... they also seem to struggle in shifting the 335i's - I've been watching a couple of low mileage, well specc'd examples which have been around for a couple of months, so there may be a route in that way.
I'm pretty sure I could even get into a Golf R direct with VWFS on PCP for around the £500pcm mark with a relatively small deposit over 3 years and the mileage I need with options too.
Will keep my eye on the lease deals thread over the next couple of weeks while I research some more. New Focus ST sounds like a bit of a bargain! Is that the ST-3 as well with the toys? Least I wouldn't have a temptation to want to go ticking an options list which kills you on a lease... Think I need to weigh up what I want and then look at the different options of getting into such a car - the trade offs and the cost of ownership over the duration for each route.
xjay1337 said:
http://www.nationalvehiclesolutions.co.uk/Volkswag...
Personal Deal£280.70per month INCL VATInitial Rental£2,526.30 INCL VAT
Or, settle for a GTD (still an awesome car) - Remaps net them up to 240bhp.
http://www.nationalvehiclesolutions.co.uk/Volkswag...
Personal Deal£175.74per month INCL VATInitial Rental£1,800.00 INCL VAT
Thanks chap - I'll have a look at these now - even on 15k a year, the monthlies on the GTD are only £293 which seems spot on! Or £338 for the R on my mileage...Personal Deal£280.70per month INCL VATInitial Rental£2,526.30 INCL VAT
Or, settle for a GTD (still an awesome car) - Remaps net them up to 240bhp.
http://www.nationalvehiclesolutions.co.uk/Volkswag...
Personal Deal£175.74per month INCL VATInitial Rental£1,800.00 INCL VAT
Why not consider buying a car rather than leasing it. You could get for example a well specced 5 series, e class etc. get one with all the toys. In the long term it means that you won the car so don't need to worry about monthly payments. It also means that come sale time rather than handing I back oh will be able to sell it on and get back some cash.
Why not consider buying a car rather than leasing it. You could get for example a well specced 5 series, e class etc. get one with all the toys. In the long term it means that you won the car so don't need to worry about monthly payments. It also means that come sale time rather than handing I back oh will be able to sell it on and get back some cash.
UK345 said:
Why not consider buying a car rather than leasing it. You could get for example a well specced 5 series, e class etc. get one with all the toys. In the long term it means that you won the car so don't need to worry about monthly payments. It also means that come sale time rather than handing I back oh will be able to sell it on and get back some cash.
Still considering this route - as I say this is my current thinking and discussion with BMW over a couple of vehicles. If I'm buying I think I'd definitely go for something more well equipped than an unoptioned lease car and longer term I may find I keep it, or as you say, I at least have the option of selling.The facelifted ST3 (esp in estate guise) seems a no-brainer in terms of a 'does a lot of things well' type of car that could actually be bought via a personal loan for a little more than some of the PCP deals I'm looking at over 3-4 years. Probably one to consider seriously, but I think I'd definitely stick with the petrol despite the mileage!
Choice is never a good thing is it?!
Why not an Octavia VRS instead of a Scout? Skoda VRS models are usually a little more compliant than their VW or Seat brethren, and the lease may be slightly less - more cash allowance profit to spend on the bike/toys.
I'd have thought a DSG VRS would meet all requirements, of course they're not the most exciting drive but it doesn't sound like that is a total requisite.
I'd have thought a DSG VRS would meet all requirements, of course they're not the most exciting drive but it doesn't sound like that is a total requisite.
Anatonic said:
Thanks chap - I'll have a look at these now - even on 15k a year, the monthlies on the GTD are only £293 which seems spot on! Or £338 for the R on my mileage...
Check the excess mile costs.Most around around 6p per mile
Much cheaper just to do the excess miles and pay the extra.
Yeah that does work out cheaper actually if it was around 6ppm... e.g. 8k a year deal = £175pcm... if I exceed by 10k a year, that's 20k more over the term... that's roughly £50 a month when all is said an done... so £225pcm for 18k a year so to speak on the GTD. Beats the front loaded price!
Do they penalise if you're way off in your mileage estimates though? I don't see what stops you taking a really low mileage lease and just paying the extra mileage?
Do they penalise if you're way off in your mileage estimates though? I don't see what stops you taking a really low mileage lease and just paying the extra mileage?
vrsmxtb said:
Why not an Octavia VRS instead of a Scout? Skoda VRS models are usually a little more compliant than their VW or Seat brethren, and the lease may be slightly less - more cash allowance profit to spend on the bike/toys.
I'd have thought a DSG VRS would meet all requirements, of course they're not the most exciting drive but it doesn't sound like that is a total requisite.
A Superb would be a more comfortable motorway cruiser though.I'd have thought a DSG VRS would meet all requirements, of course they're not the most exciting drive but it doesn't sound like that is a total requisite.
With the Evoque and the bike how much non motorway driving do you really plan to do in it, its it's not much then go for comfort on a budget and spend the rest on a bike upgrade.
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