Company car against owning my own, do you know of a site that compares directly? - HotUKDeals
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Company car against owning my own, do you know of a site that compares directly?

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Hiya im in a position where i can have a company car (well its our lass actually) but want to find a site to do a direct comparison of how much it would cost in tax and also how much it would cost to … Read More
markhodges1975 Avatar
8y, 11m agoPosted 8 years, 11 months ago
Hiya im in a position where i can have a company car (well its our lass actually) but want to find a site to do a direct comparison of how much it would cost in tax and also how much it would cost to run as a private car for the year, ive found some that will tell me bits of the info but nothing that compares directly
markhodges1975 Avatar
8y, 11m agoPosted 8 years, 11 months ago
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#1
Remember to factor in "peace of mind" which it is hard to put a cash value on.

I had a company car for a few years and it was a nice feeling knowing that whatever happened to it the company would sort it out.

If it was stolen, or in a crash, or the engine blew up, then it would all get sorted out with no cost to me.

It also did not matter how many miles I did. In my own car I would have worried about adding on all the extra mileage, in a company car I dont care.

Also they paid for tax, insurance, and most importantly servicing.

Plus I had a new car which was replaced every 3 years, and any car they gave me was probably better than what I could have afforded myself.

All that needs to be taken into account, not just a straight cost comparison.
#2
Is there an option to take the cash instead, i.e. have a 500 per month pay rise?
#3
Yeah, a few years back I upset one of those AA guys that loiter in motorway service areas. I was just going across for my bun and lid of tea when this character stopped me.

"Excuse me" he said. "Are you a member of a motoring organisation?"

"Nope" I said. "I've got somethig better"

"Oh yes!" (Hairs bristling) "And what's that?"

"Company Car"

"Er..................Oh..........I suppose so."
#4
Some_Bloke
Yeah, a few years back I upset one of those AA guys that loiter in motorway service areas. I was just going across for my bun and lid of tea when this character stopped me.

"Excuse me" he said. "Are you a member of a motoring organisation?"

"Nope" I said. "I've got somethig better"

"Oh yes!" (Hairs bristling) "And what's that?"

"Company Car"

"Er..................Oh..........I suppose so."


lol - companies pay your insurance, you pay nothing for the car/ no depreciation so go for it!
#5
i think the op is getting at the tax implications of having:

1) company car

compared to the tax implications of having:

2) a car allowance, road tax, business insurance, servicing, MOT, petrol (minus mileage allowance), mileage on your own car, etc. etc.

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