Continue PCP and pay huge excess or take Co. Car?
Discussion
Currently a two car household.
Wife has a Seat Mii on PCP 18 months into 4 yrs
I have a Golf R 11 months into 4 yrs (10,000 miles p/a)
I took the car when I had a job that was a low mileage so only 10,000 per year. The excess is 7.2p per mile.
Now, I'm going to take new job which will mean much higher mileage, possibly 20-30,000 p/a
Options would be:
1) I take the company car and do all the miles in that, keeping the Golf for weekends. But I'll be paid less, or to be correct, not paid a car allowance and taxed more highly
2) As above but we end my wife's PCP ASAP and she uses the Golf, I use the co. car
3) I take the car allowance and rack up the miles on the Golf
Company car likely to be a fairly standard 320d or A4
I don't mind that the company car isn't all that exciting.
I do want to keep the Golf PCP (with as much value at the end as poss) so I can use the equity on something used but more special. But I don't want to lose a big chunk of the equity in excess mileage. £3k if I do 80,000 instead of 40,000
Anyone been in a similar situation?
Wife has a Seat Mii on PCP 18 months into 4 yrs
I have a Golf R 11 months into 4 yrs (10,000 miles p/a)
I took the car when I had a job that was a low mileage so only 10,000 per year. The excess is 7.2p per mile.
Now, I'm going to take new job which will mean much higher mileage, possibly 20-30,000 p/a
Options would be:
1) I take the company car and do all the miles in that, keeping the Golf for weekends. But I'll be paid less, or to be correct, not paid a car allowance and taxed more highly
2) As above but we end my wife's PCP ASAP and she uses the Golf, I use the co. car
3) I take the car allowance and rack up the miles on the Golf
Company car likely to be a fairly standard 320d or A4
I don't mind that the company car isn't all that exciting.
I do want to keep the Golf PCP (with as much value at the end as poss) so I can use the equity on something used but more special. But I don't want to lose a big chunk of the equity in excess mileage. £3k if I do 80,000 instead of 40,000
Anyone been in a similar situation?
Hackney said:
Currently a two car household.
Wife has a Seat Mii on PCP 18 months into 4 yrs
I have a Golf R 11 months into 4 yrs (10,000 miles p/a)
I took the car when I had a job that was a low mileage so only 10,000 per year. The excess is 7.2p per mile.
Now, I'm going to take new job which will mean much higher mileage, possibly 20-30,000 p/a
Options would be:
1) I take the company car and do all the miles in that, keeping the Golf for weekends. But I'll be paid less, or to be correct, not paid a car allowance and taxed more highly
2) As above but we end my wife's PCP ASAP and she uses the Golf, I use the co. car
3) I take the car allowance and rack up the miles on the Golf
Company car likely to be a fairly standard 320d or A4
I don't mind that the company car isn't all that exciting.
I do want to keep the Golf PCP (with as much value at the end as poss) so I can use the equity on something used but more special. But I don't want to lose a big chunk of the equity in excess mileage. £3k if I do 80,000 instead of 40,000
Anyone been in a similar situation?
Unless I'm missing something, surely the car allowance pays for the excess mileage charge?Wife has a Seat Mii on PCP 18 months into 4 yrs
I have a Golf R 11 months into 4 yrs (10,000 miles p/a)
I took the car when I had a job that was a low mileage so only 10,000 per year. The excess is 7.2p per mile.
Now, I'm going to take new job which will mean much higher mileage, possibly 20-30,000 p/a
Options would be:
1) I take the company car and do all the miles in that, keeping the Golf for weekends. But I'll be paid less, or to be correct, not paid a car allowance and taxed more highly
2) As above but we end my wife's PCP ASAP and she uses the Golf, I use the co. car
3) I take the car allowance and rack up the miles on the Golf
Company car likely to be a fairly standard 320d or A4
I don't mind that the company car isn't all that exciting.
I do want to keep the Golf PCP (with as much value at the end as poss) so I can use the equity on something used but more special. But I don't want to lose a big chunk of the equity in excess mileage. £3k if I do 80,000 instead of 40,000
Anyone been in a similar situation?
talksthetorque said:
Can you buy extra miles on the PCP up front?
With VWFS and leasing/PCH you can buy extra miles halfway through the lease, usually at half the excess mileage rate.
Might make the sums add up better.
How much per mile for fuel will you get from the company?
Good point and worth investigating. Because nothing is finalised yet I haven't gone to VWFS as I don't want to spook them.With VWFS and leasing/PCH you can buy extra miles halfway through the lease, usually at half the excess mileage rate.
Might make the sums add up better.
How much per mile for fuel will you get from the company?
ETA it's a PCP not a PCH or lease, assume similar would apply though?
Edited by Hackney on Thursday 27th July 08:50
Hackney said:
Potentially. Car allowance could be £4k or £5k p/a, so I'd actually get £2,400 after tax.
That would cover the excess mileage but wouldn't leave much to pay for the actual car.
Plus the payment for mileage on a private car at x p per mile, whatever they give you, plus the tax rebate on the difference between that and the HMRC approved rates (45p/mile for the first 10k, 25p/mile thereafter). That would cover the excess mileage but wouldn't leave much to pay for the actual car.
I'm in a similar situation........ kind of
Used to do 30k a year so always had co car now I do much less and was all set to opt out in December and run a normal car as we have a cheap lease on a Cupra for the wife.
Rewind a few months and wife falls pregnant with our 3rd, so I'm in the dilemma of:
Do I run the cupra for my work car
Take a hit on BIK and get a "family car" she keeps Leon then re look in Sep 18
I have a 330e and put the saving in BIK towards a family car for her
Decisions decisions
Forgot to add the only family car she likes is a discovery sport
Used to do 30k a year so always had co car now I do much less and was all set to opt out in December and run a normal car as we have a cheap lease on a Cupra for the wife.
Rewind a few months and wife falls pregnant with our 3rd, so I'm in the dilemma of:
Do I run the cupra for my work car
Take a hit on BIK and get a "family car" she keeps Leon then re look in Sep 18
I have a 330e and put the saving in BIK towards a family car for her
Decisions decisions
Forgot to add the only family car she likes is a discovery sport
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