RobS

iTrader: (3)

My company car is going mid march, ive had a good deal with it
as i dont pay a thing for it, free, ins,tax,fuel for work & private
and dont pay for the use either, ive had it 3 years and i always knew it wouldnt last forever due to tax reasons................

Anyway im getting an extra £450 a month pay rise to cover buying my own car, plus 30p a mile for work milage

on average i do about 1800-2200 a month work milage

any of you peeps do the same and does it work out ok for you???

GARETH T

i dont see how you can loose

GARETH T

and if your going to personal lease a car

http://www.purplecontracts.com/

JohnP001

I get £658 a month car allowance and a petrol card. I spent just over £4000 on petrol last year. It’s a nice little sum to sponsor my Escort Cossie, and yes, I use my Escort Cossie everyday as a work car.

BigMouthBillyBass

Plenty of people here do it, mainly the older lads who;ve got a few years no claims/driving experience under their belts. It's not worth it for me as i;ve only been driving a couple of years, and to insure the company car i've got would cost me over £1700 a year (Focus 2.0TDi 138) and that's a big chunk of my allowance gone already.

Will eventually move onto car allowance though, got this car for another 3 years so will look into it when the lease company take it back

L33 BYT

I have a similar scheme at work. Whilst some of the blokes scream about in Transit connects sign written to hell. I cruise about in Vectra.

It has its up and downs.
To big negatives are its gutting watching shit loads of miles going on your nice car.
I keep forgetting to set some aside for maintenance and blow it on other things.

timrud

So your getting £450 a month lump sum, and if you do 2200 miles, you get another £660.

Sounds like a winner!

Any jobs going

RobS

iTrader: (3)

Yes mate i get taxed on the £450 but i should clear near a grand on average i suppose, car going cost me about £250 a month to buy, insurance is £55 a month plus put away £15 for tax still leave me.

so if that leaves me £680 and i average £350 a month on fuel i suppose going be ok, i do most maintenece myself and just whack it in for a main dealer service once a year

thats based on a 06plate STtdi Mondeo aswell

John Laverick

Check the mileage rate doesn't go down at 10'000 miles.

RobS

iTrader: (3)

i heard that mate, i asked my boss and he says that i you can have a max of 40p a mile for 10,000 than goes down to about 15p or you can have a fixed rate of up to 30p for all milage, but i will check

Mr S1

iTrader: (2)

First 10k is 40p per mile, after that is 25p per mile.

RobS

iTrader: (3)

yea just read that, if i average around 22,000 a year that still not to bad should get £8k a year

RobS

iTrader: (3)

i take it that a yearly allowance??

Madbradz

I get £650 per month and got myself a vectra diesel ( Ihave to pay my own fuel) and pocket the rest

Mr S1

iTrader: (2)

Yeah, that's the tax free allowance.

Iain Mac

The Approved Mileage Rates are 40p/mile for 10,000 miles then 25p/mile thereafter.

You and your firm can reach whatever agreement you like on actual reimbursement, but any money paid above these values is taxable as income.

And HMG consulted last year on reducing the rates, amid fears that too many drivers were being encouraged out of the fleet sector, but the results haven't been published yet.

Any changes that do come in WILL apply to all drivers, with complete disregard for their individual circumstances or the basis on which they did their calculations.

Don't forget to allow for the cost of business-use insurance which your employer should insist on, and for maintenance, tyres, and other expenses.

AddyT

RobS

I dont even bother with a company car, and for collecting rents etc so as not to give thr wrong inpression use an S reg vectra SRI Estate. £1k to buy, ok to insure, and not a problem so far. Touch Wood.

114k on the clock, just got a years MOT, and like you I manage similar milage, so it will pay for itself. When it breaks I will either fix it, or get another. Why spend a fortune on your own car, when it is going to loose YOU money hand over fist?? Its quite nice bombing around in a car that cost very little. But thats each to their own.