Car Allowance & Mileage Question

Firsttimebuyer2018

I went from a company car to a car allowance and I've been happy with the change. I bought a year old Audi A3, and I use the 45p/mile to my advantage I put the extra money from that away into a savings account which I then use for servicing, tyres etc. I like the fact that it's my car and although it is depreciating none of my own money is used to pay for it so when I come to sell it I won't have lost out if that makes sense?

CeePeeBee

Hi fatrab,

Thanks for continuing to assist.

As things turned out, they couldn't offer the package I wanted, or more to the point, I couldn't make ti work financially. To your question, i was looking to maintain a similar basic saloon to what I have now which is the lower end of the BIK rate. That wouldn't have left me any choices and no better off salary wise.

Spoke to current employer, they are matching the offer, and upping my overall package too, so alls well that ends well I suppose.

Thanks again

fatrab

Well congrats on the pay rise! At least if you're ever offered another package in the future you'll have an insight into the costs attached if you want to go onto car allowance.


Best wishes

k3lvc

Depending on the mileage you do there are often plenty of things that'll fit into your money - you just need to think outside the box.

Last car I had was a top of the range Jag XF - £15k borrowed over 4yrs @ 4.9% from Jaguar including 2yrs servicing, breakdown & MOT cover. Did 35k miles in the 3yrs I kept it and it cost me 6 tyres and a full set of brakes - everything else covered and it had £2k of equity in it when I traded it in after 3yrs

Plenty of 1yo stuff out there with balance of warranty/servicing/breakdown if you play clever