Company Car Thicko???

griffam

I have had a company car for the past two years and when I started work it was allocated from the pool as I was in a seconded role. Last January I was promoted and offered a permanent car of my choice .I choose to keep my comfortable ford focus During the first year I did not pay any tax due to an absolute mix up and my own blissful ignorance
My dillema is this... I now have to replace because of the millage and I have to upgrade to what is classed as management level. I hate to admit it but I do not hve the first clue where to begin looking for comparisons re tax allowance etc and for that matter how to understand what I am paying and why.
I do not expect you good people to answer my specific questions but a pointer to a good website explaining it all would be good.

I do have the option of cash in lieu but to be honest I have a hubby who finds it hard to find the petrol cap, can`t manage our daily admin issues and needs help to sort himself out (lol I adore him for being him and keeping my feet on the ground and making me laugh at his ineptitude!!!!!) a company car is an easy option and well worth any minor financial cost to me. I have a full time post that takes me away from home regularly and four kids so I need a sensible answer and some intelligent direction from one of you bright sparks about where to start with this maze.

Where do I start in chossing my next car ????


:eek:

lorweld

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StaffsSW

Have you been given any indication of the fleet list that you can pick from? Some businesses source their own vehicles, so you can pick from anything on the market within your budget. Many companies use fleet management companies who will have deals with certain manufacturers, so your choice will be limited to who they offer.
In my case, I was allocated a monthly budget of £400, and then given a list of various cars to pick from that fell within that price bracket. The £400 is not what it costs you, but what it costs your business to lease, run, insure, depreciate and maintain that vehicle. Depending on mileage, volume, leasing companies etc, that £400 could have got me anything from a Ford Ka covering starship mileage, or a BMW 520d covering 6000 per year - so quite a scope!

With regards to the cost to you, that depends on a number of factors - your monthly tax is calculated based on the emissions from the car, the fuel type and the P11d Value (similar to the retail price, and extras that you specify), but also whether you fall into the 22 or 40% tax bracket. This will give you a Benefit in Kind value, that is deducted from your annual taxable allowance.

The site I became very familiar with when choosing my car was https://www.comcar.co.uk - everything you need to know about company cars, options, values, and tax.

There is a tool to help you select a car - http://www.comcar.co.uk/newcar/companycar/poolresults/chooser.cfm and also a BIK tax calculator for when you have a shortlist of cars - http://www.comcar.co.uk/newcar/companycar/taxcalc/g1select.cfm

BillScarab

I was also going to recommend https://www.comcar.co.uk

It's very easy to compare how much different cars will cost you. If you have four children I guess you will be looking at People Carriers, so something like a Citroen Grand Picasso may be suitable.

We'd need more info to be able to help though.

i.e. what cars are you allowed? Can you make top up contriubutions yourself? For example I get an allowance of £330 a month but can also match that myself so I can pick cars that cost up to £660 on our list.