Salary sacrifice car in BR

peterparker12

Hi

I've been told the OR will contact the finance company for the finance amount on the car with a view to sell it if it has value. Can't imagine it does as i paid no deposit and work pays for most. 

Is it worth writing to the finance company with a statement on my need. Apparently they get to determine whether I keep it or not if the OR isn't interested.
Or shall I wait until I speak to the OR next week?

Thanks in anticipation

Morfx

Who owns the car? You or your Employer? I'm confused..
If you own it (financed) what is your employer contributing towards the purchase?

peterparker12

Hi morfx, my employer pays most of the cost as I use it for work. 

Grumpy_chap

If your employer pays the cost as you need the vehicle for work, where does the Salary Sacrifice part come into it?
Do you pay a bit of extra to have a nicer grade of car than the standard?

nyermen

This sounds like its part of a salary sacrifice scheme, where you sign up at work, eg. for a "green car", possibly OP gets a car allowance, and they're putting it towards the scheme.  As I understand these schemes - you don't own the car (they're just lease), so no asset for the OR to take.

The question will be - how much is it costing, and is it committed for a period (ie. can't just stop paying and hand it back), for consideration on what the OR allows.  I guess this is quite different to a DRO - or does the OR take income for a period?

Last thing - I get a small car allowance, but as part of that, the requirement is I run a car of a certain standard with relevant insurance.  If I don't have the car, I don't get the allowance - OP may have the same requirement.

peterparker12

Hi, so the company pay for all the insurance and all maintaining the car. I pay £170 a month for the car and use it to cart my tools around. It's a big car but fairly new. I think it's a good deal 

peterparker12

Yeah I pay a little more than I could but it was almost the cheapest due to itbeing a deal with that particular manufacturer