Car Allowance

chrisbagsy

Hi Everyone,
My company has offered me as part of my renumeration package. One of three car options:
a. Private Car Purchase over 4 years (£400 per month)
b. Company Car
c. Car Allowance of £5000 per year).

for options a and b. I will need to sell my 52 reg Laguna.
Under option c I can keep my own car for another year before I have to sell it (Car must be less than 6 years old).

I honestly don't think I will be able to sell my car privately until spring due to slow down in the car market etc. So have initially chosen Option c.
Eventually can someone tell me of the pitfalls I need to be aware of please?
(For info I do approx 20K business and 10K private miles).
Many Many thanks

Chrisbagsy

highguyuk

Just wondering why you don't think you'll be able to sell your car? You can sell any car as long as the price is right!

And, after the spring, your car is going to valued less due to all the extra miles you are going to put on it between now and the spring. Between 7-10k as a rough guess.

chrisbagsy

Thanks for your response. I was concerned about being "stuck" with my own car over Xmas and the New Year. My company delivered a hire car. Which I have subsequently returned.(Company now paying a car allowance which is the route of all my concerns over the pitfalls etc).
So now using my Laguna until I can decide the best course of action.