New car policy - run a car for £400 pcm - possible?

[Jumpy Guy]

Long story short - proposed new policy at friends work= £400 net pcm allowance
Rules -

Must haves

-Car must be four years old at most
-Must have four seats
-Must be capable of 30k miles per annum in reasonable comfort

Preferred

- Estate
- Diesel

So, is this possible? Any means of lease/purchase etc is allowed...

[CampDavid]

http://www.lingscars.com/Skoda/Octavia_vRS_Estate/...

As a starting point. Octavia VRS estate, 170PS version at £407 a month, though this goes up to £450 with his miles.

OK, I've gone over budget but it's a good starting point

[5678]

Golf Estate 1.6tdi SE 30k miles p.a. £302+vat leaving enough for insurance. http://www.firstvehicleleasing.co.uk/car-leasing/v...

Oh, how many years?

Edited by 5678 on Monday 24th January 12:28

[5678]

Ford Focus Diesel Estate 2.0 tdci zetec s £303+vat http://www.firstvehicleleasing.co.uk/car-leasing/f...

[Jumpy Guy]

Thanks for the input, so it does look possible

Any pitfalls, problems, things to double check with these lease deals?

[soxboy]

[quote=Jumpy Guy]Thanks for the input, so it does look possible

Any pitfalls, problems, things to double check with these lease deals?[/quote

1. Quotes are normally based on 10,000 miles per annum. Weigh up difference between paying for extra miles now or paying excess mileage penalty at end of lease.
2. Quotes exclude Vat and maintenance. Factor in insurance, tyres, servicing etc.
3. Some quotes, especially VAG cars, are 'business users only'. Make sure you can get them on personal lease.

[HellDiver]

Jumpy Guy said:

Any pitfalls, problems, things to double check with these lease deals?

Unless you wrap the car in bubblewrap the second you get it, and drive it that way, expect a uge bill at the end of the agreement for "wear and tear" and stonechip correction, etc. You'll also be expected to run the car until the tyres are falling off the wheels, brakepads are metal to metal, and servicing thousands of miles after the interval.

[CraigyMc]

Jumpy Guy said:

Long story short - proposed new policy at friends work= £400 net pcm allowance
Rules -

Must haves

-Car must be four years old at most
-Must have four seats
-Must be capable of 30k miles per annum in reasonable comfort

Preferred

- Estate
- Diesel

So, is this possible? Any means of lease/purchase etc is allowed...

A brand new 320d Ed is ~£375/mo including maintenance and insurance as a company car where I work.

C

[Deva Link]

Jumpy Guy said:

-Must be capable of 30k miles per annum in reasonable comfort

Is there a company car option? 30K/yr is hard on a car, especially if that's business miles and personal miles are on top.

Need to budget for service and maint, and for incidental costs - headlamps breaking, car park dents, wheels scuffing etc. Big peace of mind with a company car too - no worries about where you park it etc.

I reckon it's not worth running your own car unless you're at least £100/mth better off.

[Wills2]

Deva Link said:

Jumpy Guy said:

-Must be capable of 30k miles per annum in reasonable comfort

Is there a company car option? 30K/yr is hard on a car, especially if that's business miles and personal miles are on top.

Need to budget for service and maint, and for incidental costs - headlamps breaking, car park dents, wheels scuffing etc. Big peace of mind with a company car too - no worries about where you park it etc.

I reckon it's not worth running your own car unless you're at least £100/mth better off.

Agreed, 30k on £400 no thanks, I'd take whatever they were offering company car wise unless you really wanna burn your own money.

its just not worth it, a couple of punctures and the odd parking ding and you start to spend your own money, not to mention the cost of insurance at the moment.

Edited by Wills2 on Monday 24th January 13:54

Edited by Wills2 on Monday 24th January 13:56

[soxboy]

Wills2 said:

Deva Link said:

Jumpy Guy said:

-Must be capable of 30k miles per annum in reasonable comfort

Is there a company car option? 30K/yr is hard on a car, especially if that's business miles and personal miles are on top.

Need to budget for service and maint, and for incidental costs - headlamps breaking, car park dents, wheels scuffing etc. Big peace of mind with a company car too - no worries about where you park it etc.

I reckon it's not worth running your own car unless you're at least £100/mth better off.

Agreed, 30k on £400 gross? no thanks, I'd take whatever they were offering company car wise unless you really wanna burn your own money.

OP said £400pcm net, however 30k pa will still burn a big hole in his pocket.

[Wills2]

soxboy said:

Wills2 said:

Deva Link said:

Jumpy Guy said:

-Must be capable of 30k miles per annum in reasonable comfort

Is there a company car option? 30K/yr is hard on a car, especially if that's business miles and personal miles are on top.

Need to budget for service and maint, and for incidental costs - headlamps breaking, car park dents, wheels scuffing etc. Big peace of mind with a company car too - no worries about where you park it etc.

I reckon it's not worth running your own car unless you're at least £100/mth better off.

Agreed, 30k on £400 gross? no thanks, I'd take whatever they were offering company car wise unless you really wanna burn your own money.

OP said £400pcm net, however 30k pa will still burn a big hole in his pocket.

Yes and I edited my post to reflect that. As it still makes no sense

Edited by Wills2 on Monday 24th January 13:57

[Deva Link]

£400 nett. Presumeably plus a mileage allowance for fuel and tax rebate.

It's a good monthly allowance as they go, but still touch and go to cover the cost of anything half-decent.

ETA: One issue we had was most people who opted out dramatically underestimated how much their isnurance was going to be. It was OK for some people, but the guys in big cities etc were paying fortunes. Some of them struggled to get finance on cars too.

Edited by Deva Link on Monday 24th January 14:01

[soxboy]

Wills2 said:

soxboy said:

Wills2 said:

Deva Link said:

Jumpy Guy said:

-Must be capable of 30k miles per annum in reasonable comfort

Is there a company car option? 30K/yr is hard on a car, especially if that's business miles and personal miles are on top.

Need to budget for service and maint, and for incidental costs - headlamps breaking, car park dents, wheels scuffing etc. Big peace of mind with a company car too - no worries about where you park it etc.

I reckon it's not worth running your own car unless you're at least £100/mth better off.

Agreed, 30k on £400 gross? no thanks, I'd take whatever they were offering company car wise unless you really wanna burn your own money.

OP said £400pcm net, however 30k pa will still burn a big hole in his pocket.

Yes and I edited my post to reflect that. As it still makes no sense

Edited by Wills2 on Monday 24th January 13:57

Sorry, I was writing whilst you were editing!

[Jumpy Guy]

Company car is NOT and option - not offered, and no plans to offer

Deal is £400 net and a fuel card

Looking at some links- surely a £300 pcm lease, and a £80 maintenance package is the way to go?

only leave tyres to get ?

[Deva Link]

Jumpy Guy said:

Company car is NOT and option - not offered, and no plans to offer

Deal is £400 net and a fuel card

Looking at some links- surely a £300 pcm lease, and a £80 maintenance package is the way to go?

only leave tyres to get ?

There would be a tax rebate for business miles too.

Bearing in mind the car would be under warranty the whole time, the maint package seems on the high side if it doesn't include tyres.

[5678]

Deva Link said:

Jumpy Guy said:

Company car is NOT and option - not offered, and no plans to offer

Deal is £400 net and a fuel card

Looking at some links- surely a £300 pcm lease, and a £80 maintenance package is the way to go?

only leave tyres to get ?

There would be a tax rebate for business miles too.

Bearing in mind the car would be under warranty the whole time, the maint package seems on the high side if it doesn't include tyres.

He should check the service costs for any potential car over 90k miles and then see if the £80pcm is worth it or not.

[5lab]

£320/month over 3 years is around £10,000 on a loan (leaving £80pcm for tax\insurance\maintainance). Could go the 1 year old ex-lease route, that's probably diesel mondeo money (or something korean for a 5 year warranty)

[CraigyMc]

Jumpy Guy said:

Company car is NOT and option - not offered, and no plans to offer

Deal is £400 net and a fuel card

Looking at some links- surely a £300 pcm lease, and a £80 maintenance package is the way to go?

only leave tyres to get ?

I'm interested to know what the alternative to the money and fuel card is, then?

[Jumpy Guy]

I dont think there is an option. Thats the deal, and its up to the employee to organise what they can within the outlined rules.....