6 month car hire?

jitters

Hi all.

I'm starting a new job in October and the company car option/perk will not 'kick' in until after i've worked 6 months.

Therefore, the option available to me is to use the company car allowance, £500 per month (£~400 (?) after tax) and hire a car for 6 months.

(My current car, doesn't fall into the stipulated caveats for attaining an allowance, ie car must be less than 5 years old)

Can anyone reccommend a company that has 6 month hire options? I don't want to take out a 1 yr+ lease or loan as I wouldnt be able to afford the repayments if I was made redundant/let go.

Many thanks

Quentin

There are plenty of short term leases available. Google 6 month car lease.

jitters

Thanks Quentin.

I was hoping for a company recommendation; as googling "6 month car lease" returns websites that looks like they've been designed by my 8 year old nephew!

daveyjp

Try JCT600.

Kilty_2

Europcar do good month plus rates for business users, worth giving them a call and seeing what they can do for personal.

jitters

Thanks for the replies all.

I'm not so sure going the "vehicle hire" route is the best option, as costs for 6 months hire are approximately £350 a month (for a 1,4 ford fiesta) before the cost of insurance.

I think I may be better off getting a personal loan for 2-3yrs and buying a car (it has to be less than 2 yrs old at point of purchase). I could then let my partner have the car at 6 months, sell her current car and myself get the company car. - we have been thinking of getting rid of my partners car as it is now 6 years old.

Does this make (any) financial sense?

Kilty_2

I don't see much financial sense in getting into debt for a car you only actually need for 6 months (I doubt your partner's 6 year old car is actually that bad) - a hire car goes after the 6 months without any depreciation to worry about.

All depends on whether you really want 2-3 years of debt I guess (when you'll have a brand new company car anyway)