Reducing motoring costs when driving 20,000 miles per year

glothy

Hi.


I've recently taken a job where I'm required to drive approximately 20,000 business miles a year in my own car. This is going to wreck whatever car I choose to own as well as costing a fortune, as I'm only paid the 44p mileage rate for the first 10,000.


Does anyone have any suggestions as to how I might bring the cost down? Car hire? Fuel efficient vehicle? Demanding a company car?


Got a feeling I might be looking for another job fairly soon to get out of the situation.


Thanks in advance for your advice.

Nodding_Donkey

When you say you only get 44ppm for the first 10k do you mean they expect you to pay for the other 10?

glothy

No, I get 20p/mile after that which might just cover fuel but not any continued degradation to my vehicle.

Ultrasonic

glothy wrote: »

No, I get 20p/mile after that which might just cover fuel but not any continued degradation to my vehicle.

It's not that bad. Fuel costs me about 12p per mile in a 9 year old diesel averaging 56 mpg.

What is your current car?

glothy

It costs me 18p/mile. My main concern is that my car is going to be wrecked and worthless after a couple of years as I need to use it for personal use as well.


Maybe it would be best to buy a car with say 40,000 on the clock, run it up to 60,000 and then sell on after the 12 months. That way having minimum depreciation.

System

Welcome to the world of long distance commute. I do 36k miles per year to work, I have a 3yo car that has now done 83,000 miles

nobbysn*ts

glothy wrote: »

Hi.


I've recently taken a job where I'm required to drive approximately 20,000 business miles a year in my own car. This is going to wreck whatever car I choose to own as well as costing a fortune, as I'm only paid the 44p mileage rate for the first 10,000.


Does anyone have any suggestions as to how I might bring the cost down? Car hire? Fuel efficient vehicle? Demanding a company car?


Got a feeling I might be looking for another job fairly soon to get out of the situation.


Thanks in advance for your advice.

I did that for several years. On those figures, that's £2800 you can put towards depreciation. I did it in a sub £1000 car, so after the first 4 months it was paid for, the rest was profit after maintenance. Apart from suspension every 80K, the rest were normal wear and tear items. Had the car for years.

Prothet_of_Doom

The trick here is to find a nice old 'sh!tter' --- a bargain banger that is throw away money. Or is it?

Just find something under £4K that will last 3 years and you'll be quids in.

The bigger and more comfortable this diesel is the better you'll feel, but look at the figures.

They will pay you £6400 for the miles you do, and the fuel will cost £3600.
Assuming 3 DIY oil changes, 4 tyres, and £500 worth of repais. You'll have £2500 at leasy clear to put towards your replacement car.

Given that I bought an 8 year old Honda accord Diesel for £4600 2.5 years ago with 75K on the clock and it's done another 40K whilst needing only an alternator and tyres, I expect to see another 3 years out of it.

This was a £22K car new, and I am claiming about 12K business miles, so I'm happy that the new car when it comes will have been more than paid for by the old.

As an aside HMRC rates are 45p and 25p a mile, so if your company pays less, you want to have words, but if they won't change it, you can get a refund from HMRC of the tax you paid on that 1p.

Don't forget to get class 1 business use on insurance.

JC_Derby

glothy wrote: »

Hi.


I've recently taken a job where I'm required to drive approximately 20,000 business miles a year in my own car. This is going to wreck whatever car I choose to own as well as costing a fortune, as I'm only paid the 44p mileage rate for the first 10,000.


Does anyone have any suggestions as to how I might bring the cost down? Car hire? Fuel efficient vehicle? Demanding a company car?


Got a feeling I might be looking for another job fairly soon to get out of the situation.


Thanks in advance for your advice.

I'm not feeling much sympathy if you've accepted a job where you knew you were going to be doing a lot of business mileage.
Not sure how you can demand a company car knowing that either!fuel efficiency and sensible driving is the way forward.

Hintza

The OP is being taken for a ride by the company. Expecting him to run a car on those margins is effectively a salary sacrifice.

Prothet_of_Doom

glothy wrote: »

It costs me 18p/mile. My main concern is that my car is going to be wrecked and worthless after a couple of years as I need to use it for personal use as well.


Maybe it would be best to buy a car with say 40,000 on the clock, run it up to 60,000 and then sell on after the 12 months. That way having minimum depreciation.

Get a 90K car for peanuts, and run it to 220K and weigh it in would be even better. Don't have to keep going out and looking at used cars :rotfl: