Company car dilema, what to get?

[Legacywr]

VeeFour said:

Legacywr said:

Unfortunatly classic car taxation is based on thier current market value!

Unless you find one that's over 15 years old, but worth less than £15k.

Which means you could quite possibly drive a 635CSI for not a huge amount of cash compared with a modern equivalent.

Can you provide me a link to any pages that contain that information please.. but it's not as if this isn't giving me a big enough headache already! lol

[Number 5]

I have a very limited understanding of the company car taxation system (I've not had a company car since 1999) besides the cost of the car i.e monthly payment/purchase costs and fuel what other costs are the company liable for? Could someone please explain this to me in English?

[VeeFour]

I got it from here:

http://www.barnesroffe.com/resources/news-item/cla...

I'd still say it's worth looking at a salary increase rather than taking a company car - I assume you're not doing silly amounts of business miles each year?

[STURBO]

OK I think I see where the OP is coming from.

He can have any car he wants under 30k, company pays for everything except the company car & Fuel BIK tax. He only want 1 car.

Company obviously does not offer an opt out.

So what does he do?

Get a BMW 320d and pay approx 3k per year.
Get a awesome Scooby for 7k per year.

Marginal cost is 4k per year.

OP is a PH'er so go for it.

I think you would be looking at a similar price difference in the private market for those 2 cars too, so it's no different really.

[Amateurish]

In a similar position myself - £30k budget co car, no business miles. Trying to keep BIK tax rate below 20%. Have considered:

123d Coupe
TT TDI
A5 2.0 TDI
325d
DS3 Racing / Polo GTI / A1 1.4, all cheap tax wise.
Scirocco TDI Bluemotion.

The 2.0 TFSI engine in Audis comes in below 150 CO2 so is cheap e.g. A4 or A5.

320ED v. cheap as alredy mentioned.

[Legacywr]

I really like the look of the DS3 Racing, black with orange roof. It will only cost me £67 p/w, but what will it really be like to live with?

Otherwise the STI looks the best, but the ride is pretty hard. The Golf interests me because of the DSG!

[Amateurish]

Legacywr said:

I really like the look of the DS3 Racing, black with orange roof. It will only cost me £67 p/w, but what will it really be like to live with?

Otherwise the STI looks the best, but the ride is pretty hard. The Golf interests me because of the DSG!

I haven't driven it, but I sat inside the DS3 Racing at Geneva and it has a mental interior - lurid orange everywhere. Great Recaro style bucket seats.

Golf GTD DSG might be a more economical alternative to the R, as might the Scirocco TDI 170 DSG which is in fact a fair bit cheaper than the Golf for the same spec.

[Welshbeef]

VeeFour said:

Unless you find one that's over 15 years old, but worth less than £15k.

Which means you could quite possibly drive a 635CSI for not a huge amount of cash compared with a modern equivalent.

tvr cerbera
lotus esprit
lotus Carlton
e34 m5
Holden gsv
r34 skyline
rx7
supra tt
xjr v8 or v6
s8

um countless others which are over 15 years old which has Market value less than £15k

[TomJS]

Welshbeef said:

tvr cerbera
lotus esprit
lotus Carlton
e34 m5
Holden gsv
r34 skyline
rx7
supra tt
xjr v8 or v6
s8

um countless others which are over 15 years old which has Market value less than £15k

If present value is under £15k, it goes off the list price when the vehicle was new.... so these will all cost LOTS.

[Welshbeef]

Surely all those cars are worth 15,001. Or buy one that is just over job done.

[VeeFour]

Welshbeef said:

Surely all those cars are worth 15,001. Or buy one that is just over job done.

You don't get to decide the value - it's not an invoice value, it's a value from trade guides.

Best example I've seen is an Alfa 105 series GTV - even the very best will come in under the £15k barrier - but the price back in 1970-ish was around £2k.

They're under 2lt, so you end up paying around £120 tax on them. Bargain.

[Legacywr]

It's suprising how out of date those cars are as a daily driver otherwise an Escort Cosworth would have been top of my list.

[Legacywr]

Just an update, I had an extended test drive of a Subaru WRX STI yesterday and really liked it. I think that I will try and get a JDM 2 litre imported but I will probably have to wait though.

[Welshbeef]

Legacywr said:

Just an update, I had an extended test drive of a Subaru WRX STI yesterday and really liked it. I think that I will try and get a JDM 2 litre imported but I will probably have to wait though.

will it be fully expensed ie fuel card? If so your going to feel a lot of bik tax pain

[Legacywr]

Welshbeef said:

Legacywr said:

Just an update, I had an extended test drive of a Subaru WRX STI yesterday and really liked it. I think that I will try and get a JDM 2 litre imported but I will probably have to wait though.

will it be fully expensed ie fuel card? If so your going to feel a lot of bik tax pain

It will cost me about £100 p/w so one of the cheapest options I was originally looking at.

[VeeFour]

That'll be taxed at 25% of list if under 2000cc (I haven't checked, but I'm assuming it's something like 1998cc, and not just over, which would be painful).

Plus the 25% charge on fuel.

So, yes, around £100 / week.

Are you really sure it's worth £100 / week in tax for something that belongs to the company?

Bear in mind that it's pretty much double what a 320d ED would come in at.

[Legacywr]

VeeFour said:

That'll be taxed at 25% of list if under 2000cc (I haven't checked, but I'm assuming it's something like 1998cc, and not just over, which would be painful).

Plus the 25% charge on fuel.

So, yes, around £100 / week.

Are you really sure it's worth £100 / week in tax for something that belongs to the company?

Bear in mind that it's pretty much double what a 320d ED would come in at.

This will be MY car, but bought with company money. Don't we all drive the best car we can?

[Welshbeef]

If the company buy the car like all co cars they own it they are the name on the v5. You cannot sell it the company can and any proceeds gies back to the company.

[VeeFour]

Legacywr said:

This will be MY car, but bought with company money. Don't we all drive the best car we can?

If you're worried about BIK charges, then it belongs to the company. So you're paying £400 / month for something you don't own.



My philosophy with company cars it to pay as little in tax as possible - so when the CC goes back in October, I'm getting a hybrid.

[Wills2]

Welshbeef said:

Actually come to think about it all co cars are leased incl maintence.

Incorrect, I've just taken delivery of a company car paid for in cash £37.5k and have just ordered another again this will be paid for in cash as well.