Company Car or opt out?

JQ.

If you want to save money, then take the cash.

If you want the convenience and prestige of having a brand new car, then continue with a company car.

I took the cash and have saved a fortune - we actually run 2 cars on the cash I get. Although it does mean, instead of a £40k exec car we have a C-Max and Mini. Just make sure you buy wisely and get a car than has done most of it's depreciation and you'll be quids in.

There's also the benefit you can swap cars whenever you like should circumstances change.

robatwork

When I looked into this, the financials were that around £3,000 was the "break even" point. That doesn't cover a major breakdown however.

So financially if you get a reasonable but cheap to service car (or cheap /disposable car) you can save money taking the allowance.

But that doesn't take any account of the peace-of-mind feeling a company car will provide. Nobody else can put a value on that apart from you....