I am looking at a new company car for myself but I do not want to spend more than,lets say a starting budget of £20 K.
I really want to get a Honda CRV if possible. I also want something that I can hopefully buy from the company when I retire in three years time.
I need suggestions to put to my Financial Controller ( other than where to stuff his miserly budget!).
I really want it to be a 4 x 4 and cheap to reasonable for my own personal 'benefit in kind 'tax.
Its a bit of a mystery to me .....What are the pros and cons of buying new , second hand or contract hire ?
All reasonable suggestions considered.......
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The Skoda Yeti would be on my list if I wanted 4x4.
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"his miserly budget"
One hopes his attitude does not extend to your flying machine(s) - or is that a different department..?
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No particular tax advantage to you in going second hand. The bik is calculated on the new value whether you had the car from new or not. Only upside of a used car might be that you could maybe get a better spec or model than if you get a new one. By and large, go for a manual rather than an auto for tax purposes too unless auto is a big deal to you. A leased car is OK but you will find that they'll ( the leasing company ) be ultra stingy on things like tyres when they need to be changed. They generally only want to fit cheapo replacements and only then when you've got the bare minimum tread left. Better if possible to get your employers to buy it. You'll probably get a more favourable deal from them too when and if you decide to buy it when you retire.
Have you tried a Qashqai ? I've got one and it's more than OK for what it is. If you went for a 1.5 diesel 4x2 manual it'd be very cheap on tax and would be a good thing to run as a private car in due course. Excellent economy figures. Not a 4x4 unfortunately but to be fair you might struggle to get a 4x4 of any standard for £20k new. ( Unless you like Pandas ) I also agree with the Yeti thought above too for what it's worth.
Good hunting !
:-)
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Do you want a 4x4 as you need the ability or do you want a 4x4 for it's high seating position?
Generally 4x4's are less economical than 4x2's and are more expensive, both of whick will increase your income tax bill (BIK).
Let us know which is the important part to you so we can make recommendations.
Topline, for the lowest tax you want the most econimical car and the cheapest list price to pay the lowest tax.
It works by thwe P11d value of the car multiplied by the CO2 grading of the car multiplied by your tax rate (lower or higher).
If you get private fuel paid for it's in addition to the above calculation at £16,500 (I think) x the CO2 grading of the car x your tax rate (lower or higher).
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My cc is up for renewal and I was momentarily tempted to bail out and go for own car. Anway, back to topic, I looked at the Nissan Juke and the top of the range IIRC is avaialble as a 4x4 and well within the 20k budget.
HTH
RM
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Company Car - Zhukov
