Buy a car through a ltd company - couple of questions...

Buy a car through a ltd company - couple of questions...

Author
Discussion

5pitfire

Original Poster:

18 posts

32 months

Saturday 4th July
quotequote all
I’m buying a new car through my company to take advantage of the 0% benefit-in-kind rules for electric cars.

The garage wants proof of insurance in the company’s name.

Does this sound right?

Good or bad experiences with particular insurers or brokers?

Many thanks!

Ziplobb

672 posts

240 months

Saturday 4th July
quotequote all
They may want the insurance to tax it for you ? either way the company will have to insure the car that it is buying for you and will need to make sure its isnured when the dosh is handed over/finance granted so what is the issue ?

5pitfire

Original Poster:

18 posts

32 months

Saturday 4th July
quotequote all
Thanks - just wondered if this standard procedure.

SS2.

12,067 posts

194 months

Saturday 4th July
quotequote all
Ziplobb said:
They may want the insurance to tax it for you ?
Insurance is no longer checked at the point of taxing a vehicle - hasn't been for some time.

minghis

1,494 posts

207 months

Sunday 5th July
quotequote all

Sounds a bit strange to me, we have bought plenty of company vehicles and never once has the dealer asked for insurance. I can't see why they'd need it?

Sheepshanks

20,865 posts

75 months

Sunday 5th July
quotequote all
Is it due to finance being in the company’s name?

I’ve seen threads before where posters have found insurance in the company name is way more expensive than a personal policy.

5pitfire

Original Poster:

18 posts

32 months

Sunday 5th July
quotequote all
Interesting point re finance. It was going to be financed but will now be a cash purchase.