Need some advise on messy car lease/allowance situation

Nodding_Donkey

I think there are two issues here:

1.) You bought a car that you don't like.

2.) You are subsidising the company you work for.


Treat them as separate issues

Foxy-Stoat_3

Renegotiate your car allowance would be the first thing to do.

Find out exactly what age of car your are allowed to run.

Buy and run a car that suits your needs and within your budget.

You may be better off trying to get a loan for say £225 a month over 3 years and buy a £6000 car and put the other £1500 aside for repairs. Use the other £75 to insure and tax/mot it and see how you go. You would have to get to a point and VT your current P.O.S. first though.

marcosmantula

Although not directly related to the OP's original question it might help them with the financial side of things if they are not already do this.

You can claim tax relief on the difference between what your company pays you and the government allows if you used your own car for business purposes. As the OP says they do not get any mileage allowance they will be able to claim the full amount which is 45p/mile for the first 10000miles and 25p/mile for each mile after that.

So based on the quoted 30000 business miles a year you would be eligible for tax relief on £9500 which would be £1900 if a basic rate tax payer or £3800 for a higher rate tax payer.

If you don't do a tax return just ring up the tax office and they will make the necessary adjustments. It is also back datable for at least 3 years.

Remember it is for business mileage only so you need to keep records of business trips you have used your own car for.

force_ten

you can get a brand new BMW 3 series diesel on personal lease for a shade under £300.00 a month but you would have to pay a 2.7K customer deposit and it has a 10k miles per year cap

the point of that is you will need to put in a good chunk of your own money to get a decent motor

if you are doing 30 thousand business miles per year then you need a company car not a paltry £300.00 per month allowance

without bankrolling the car your self you are not going to get a decent motor on your allowance

k3lvc

force_ten wrote: »

if you are doing 30 thousand business miles per year then you need a company car not a paltry £300.00 per month allowance

without bankrolling the car your self you are not going to get a decent motor on your allowance

But please bear in mind that with the suggested company car will come a tax bill therefore your real amount ou have to play with for a car is actually £300 plus whatever your monthly tax bill would be for the car of your choice

AdrianC

And let's not forget the £300 allowance is taxed as income.