Richard Simpson

Hi Guys,

I need to determine a mileage rate for petrol consumption/wear and tear etc. for my 2002 STI Type UK.

Its for an insurance claim - I share with my wife for commuting but following an accident we have had to use my car exclusively as the insurance company would not pay for a hire car until the other party admitted liability.... they did so the day we picked up the car....!

Any help or ballparks would be appreciated?

Cheers

Richard

Chungster

At least 40p per mile I reckon.



My company pays 20p per mile for any business related journeys I might do in my 03 STI.

Hence I don't do any.

Richard Simpson

yeah I was thinking around the 45p - 55p mark - my work gives 38p a mile fro a normal 2 litre car and thats not 4WD or running on super or doing 22 mpg!

Scooby300

Company Car Magazine / Fleet News give the STi a PPM rate of 40p per mile, this is based on a new car covering 60,000 / 36 months and covers fuel / service / depreciation / RFL but excludes insurance.

This is an industry recognised calculation and is used by many of the large leasing companies and fleet departments.


[Edited by Scooby300 - 1/26/2004 9:35:39 PM]

[Edited by Scooby300 - 1/28/2004 9:32:05 AM]

Richard Simpson

Excellent that sounds good, not as good as 50p but better than 20p!

Cheers Guys,

Richard

Dark

iTrader: (1)

The petrol consumption alone works out at ~18p/mile!

Mark

Mick

iTrader: (1)

My company gives 38p per mile for private car, over 1.6 litre, petrol, used on company business.

Mick

MadMark

Mine gives me 40p per Mile on my O3 WRX - probably about right!

bits'n'pieces

isn't that either 38p or 40p for the first 4000 miles and then 33p to 12000 miles then 25 pence after (tax man will get you if you claim more I believe)

MadMark

Bits - I think you're right, but I do sub 4K / yr .....

mef

Whatever you get from your company, you can claim the difference (assuming it's smaller) off the Inland revenue. I think the allowance is 45p, so say you get 30p from your company, you can claim the difference on your Tax return, based on the mileage covered.

ThrustSSC

Inland Revenue current maximum rates before they tax you on the excess (but if you can get more than that, it's still worth having ) are 40p up to 10k miles, 25p after that.

I suggest you work out what it cost you to run over the distance given. Pick a large number way in excess of that, and make sure that you don't compromise on a rate where you lose out (after tax).

Better still, charge what you would have been charged for hiring a similar car, including the petrol costs. This you should be legally entitled to do as they refused to sort a car out until the other party admitted liability, so there's no reason why you should sub them. Anyway, it sounds like the cost will be on the other party's insurers, so go for it .

rotty

I tried to work out pence per mile when deciding if I could run a STi8 as a work car

I allowed for depreciation , tyres , insurance , maintenance , fuel etc

I added it all up , deducted the money that I get from work and the Inland Revenue

When I worked out the final figure it showed that it wasn't a viable propsition , so I said bollocks to it and bought it anyway



[Edited by rotty - 1/28/2004 1:19:59 AM]

Scooby300

Just looked at the latest Company Car and the STI is listed now at 40p per mile not 37p.

If you need a copy of this let me know, if you can get more out of your insurance company then go for it, any less and dig your heals in.

Richard Simpson

Cheers I'm sure they will try and push me down to 20p a mile or something stupid.....but I'll stick with 40p as a minimum!

Thanks

Richard

Scooby300

20p a mile will get you a Corsa 1.2SXi !!!!!!!!!!!!!!!!

Richard Simpson

You know what insurance companies are like.......