To sell or not to sell

andreaworth

Hi All,

i started a new job 10 weeks ago and I now have a fully expensed company car, my own car is hardly used now should I sell it or keep it? 

Please help?! 🤦🏼‍♀️
Thank you,
Andrea. 

Car_54

Why would you keep it?
Do you need a second car? If not, get rid ASAP.

CliveOfIndia

As above - do you need your old car?  If not, get rid of it - especially the way things have been recently, used cars are quite sought-after.

This assumes, of course, that you're allowed to use your company car for personal use.  And that it suits your personal requirements ( for example, if the company car a small hatchback, it's probably not much good if you need to transport 3 hulking great teenagers plus 2 Old English Sheepdogs on a regular basis )

But as far as it goes, it would seem pointless to keep the old car.  If it's parked on the road you've still got to tax, insure and MOT it, even if it's not used.  And even if it's just sat on a private driveway doing nothing, that in itself won't do the car much good in the long term.

I guess the only scenario where it might make sense to keep it would be if your job is perhaps not quite as secure as you would like.  But that can be a hard one to judge, anyway.

Wonka_2

And is your 'fully expensed' company car the only option ? If you wanted to use your own car (if it were suitable) would they offer you an allowance in lieu of a the company car and would this be preferable to you ? 

andreaworth

Wonka_2 said:

And is your 'fully expensed' company car the only option ? If you wanted to use your own car (if it were suitable) would they offer you an allowance in lieu of a the company car and would this be preferable to you ? 

My personal car is not really practicable for my work as it’s a fuel guzzler so I guess it’s whether or not I sell or not 😂🤦🏼‍♀️

andreaworth

CliveOfIndia said:

As above - do you need your old car?  If not, get rid of it - especially the way things have been recently, used cars are quite sought-after.

This assumes, of course, that you're allowed to use your company car for personal use.  And that it suits your personal requirements ( for example, if the company car a small hatchback, it's probably not much good if you need to transport 3 hulking great teenagers plus 2 Old English Sheepdogs on a regular basis )

But as far as it goes, it would seem pointless to keep the old car.  If it's parked on the road you've still got to tax, insure and MOT it, even if it's not used.  And even if it's just sat on a private driveway doing nothing, that in itself won't do the car much good in the long term.

I guess the only scenario where it might make sense to keep it would be if your job is perhaps not quite as secure as you would like.  But that can be a hard one to judge, anyway.

Ha ha yes I’ve a teenage boy and have to transport some of his footie team and they’re now too big to sit in the back of my TT. 
I think you're right in I'm questioning my decision based on being in my probationary period at my new job, however, I have already ordered my new company car. 🤔😊

Car_54

andreaworth said:

Wonka_2 said:

And is your 'fully expensed' company car the only option ? If you wanted to use your own car (if it were suitable) would they offer you an allowance in lieu of a the company car and would this be preferable to you ? 

My personal car is not really practicable for my work as it’s a fuel guzzler so I guess it’s whether or not I sell or not 😂🤦🏼‍♀️

Well, it won't guzzle fuel if you keep it on your driveway and use the company car.
However, it will still guzzle insurance and depreciation, plus tax if you don't SORN it.

Grumpy_chap

andreaworth said:

i started a new job 10 weeks ago and I now have a fully expensed company car, my own car is hardly used now should I sell it or keep it? 

Does this have to be an all or nothing decision?

Your own car will not cost you anything until the VED / insurance / MOT are up for renewal.
Why not keep it until then and take a decision at that time with the benefit of hindsight to guide the decision vis-à-vis whether you would ever use the car or it would juts take up space?
That also gives you the time to confirm you will stay in the new job.

Herzlos

Now is the time to be selling convertibles or sports cars, so whilst I'd normally say to wait until your probation is over you don't want to miss the summer window and get stuck trying to sell it in autumn.

When does your company car arrive?