starstruck

Does anyone know of a web site that will accurately compare and contrast costs ? I currently have a works car and am being offered a cash alternative so any advice would be gratefully received.

Cheers

douglasb

Hi Starstuck

Have a look at http://www.lvl.co.uk/features_cashcalc.shtml - I haven't used it myself so can't comment on accuracy.

Having made the change from Company Car to Allowance myself I do know that there are a lot of factors to take into account before making your decision. A lot depends on your total mileage, annual business mileage, tax rate, how you finance the car, how long you want to keep it, the car you have at the moment and the car you would run yourself, whether you are happy with a "lesser" car as your own than what the company would give you, what the cash offer is versus the car you currently get, and the security of knowing that (with a company car) if anything goes wrong the company provide a hire car whereas you are on your own with the allowance.

If this gives you any specific questions about the subject, please let me know.

Regards

Doug
Regards

uksti

Lex

take the money !!! Buy a Scooby !!!

and don't forget to get a fuel card.

Baz

Dunk

iTrader: (1)

http://www.cashorcar.co.uk

ProperCharlie

How much it costs is all to do with that moment of profound amnesia you suffer when you fill in your self assessment form, isn't it? Alledgedly?

starstruck

Thanks very much for the responces.

The more I look into it the more I get confused. I can see the benefit, in financial terms from the various calculators, I found the AA one quite good. It leaves me with the following.

If I return my current car, Audi A4, I will be left with £440 (nett of taxes) to run a car. That is made up of the allowance from the company and car tax and Private Usage Charge that I wouldn't be paying. That sounds good until you factor depreciation etc into the equation. Unfortunately the fuel card is not an option, I will receive £0.14 per mile. Apparently I can claim the difference between this and the maximum allowed by the Inland Revenue (approx £0.40) against my total taxation bill.

If I would be happy driving a ten year old Mondeo then I would definately be better off with the cash. However, after having a brand new car turn up every year, that is an option I don't fancy.

Currently looking at the various options (Options being one of them!) available on a Focus 170.

Any further advice gratefully received.

Cheers

Shaun

[Edited by starstruck - 7/21/2003 8:33:59 PM]