simonburton

Thanks for that Dave; as a policy we do tend to get rid of cars cheap, and don't worry I have been dropping lots of hints about the falling market etc

[Edited by simonburton - 10/7/2002 11:37:29 PM]

simonburton

I am considering purchasing my P1 from the company I work for. It's got 60k on the clock and in fairly good condition. Few extras such as AP 6 pots, Blitz zorst and filter etc etc. It is not fully depreciated yet, so now might not be the best time to buy.

Any ideas on market value?

rich uk300

high mileage ones are going for £17000 at mo

simonburton

Thanks for that

polarbearit

I'd probably offer about £15k tbh... The main advantage of the P1 over the STI5/6 was the warranty, which is up now, and for £15k you could by an immaculate STI.

D Noble

most accountants will depeciate cars over 4 years,(£7000 pa in your case)the company may want to just clear off the ballance of depreciation,as they will pay corporation tax on any "profit"
i sold my last scoob to my dad,it was on the books for £3500 -he got a cheap car!! this is an extreme case i know, but years ago i bought a 205 GTI for £1500 with a market value of £3000,cos the beancounter just wanted it off the books!
does the company know the true value(drop hints to the accountant that the market has fallen (not untrue) he may ask a dealer for a price which may be quite low anyway with no trade in)

at the end of the day,make them an offer,one that you can walk away and not be bothered if it is not accepted(hard to do if you really want the car)


remember as well that most other company cars will in real terms depriciate quicker ,ie a collegue might have a ,say dicovery which will be worth less than what it is on books at,so if the company is used to getting rid of cars at a loss,you might be in a strong position to get yourself a bargain.

hopr you can make sense of this
regards
dave

Vix

Si if you need a valuation at "sensible" figures mate.. happy to help.. the IR always prefer it on paper from a third party

that roll cage has got to knock a grand off

Gridlock Mikey

I take it that you will be talking to yourself on this one then

Dou you ask yourself permission to have a day off

Mikey

Totally no use to you at all, just wanted to have a giggle at your situation, what with the company being yours and all that

Beech Boy

Hi Simon

Seeing as the car originally came from here, why not pop in and im sure I can give you an agreeable valuation on letter-headed paper.

we seem do be doing this a lot for our customers at the mo (company car tax etc,etc). So I know its no problem.

Just give me a ring on 0115-9882958.

Cheers

Gavin

Trouser @ TSL

wotcha Gav and Mikey

Si. that vix one is me !! .. bloomin team not swappin back Trouser settings!! .. no i cant get me password to work!.. you just can't get the staff LOL

speak to you later

cheers

trouser

bros2

The options the company has for selling it are limited. They can either waste time trying to sell it through Autotrader etc, or they can sell it to a dealer/flog it at an auction.

Assuming that's what the co would otherwise do, I'd get a valuation from a dealer for a straight purchase, then back this up with a copy of the relevant page from Glass's/CAP Black Book.

Worked for me - I bought a Mondeo for £3500 (bottom book price), ran it for 25k miles, then sold it privately for £4200 18 months later.

bros

D Noble

Forgot to mention,is selling it to someone other than yourself an option?,wive girfriend/brother etc,cos Inland revenue might hammer you for personal tax if you pay too much below book( this happened to a supplier who retired,and got his co car cheap as part of the deal,they wanted the tax at 40% on the diference between what he paid and its value.had to get a freindly carsalesman to put a quote for how much he would have paid for it,funnily enough it was the same as my mate paid for it

regards
dave