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Monthly lease prices for company cars??


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OK, so I just resigned from my job where I currently take a car allowance.

My new role has the option of allowance or car and I am considering taking a car.

Does anyone know what sort of car you can get for a lease cost of 5k per year?

I guess this will depend on a number of factors but a rough idea would be nice!

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I get around £4500 a year and I found I could get a much better car taking the allowance although I only do around 8,500 miles pa including personal use.

From memory, the Audi A4 1.9 Tdi 130 sport without any extra (not even metallic) was pushing £500 a month including maintenance and insurance blush.gif

I opted out and bought the same car outright funded from my allowance. At the end of the 3 years, it will have cost me a hell of a lot less than £500/month including tax, maintenance, insurance etc etc.

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Yes, it's a tough one.

We have a Sportback bought and paid for but have just taken on a huge mortgage and I did not really want to buy, tax and insure another car.

I was going to hand the Sportback over to the wife and get a nice new car, but maybe I'll keep it and get a less fancy company car. That's a bit boring though frown.gif

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Have a look at Lex Vehicle leasing they have a caluclator for cash for cars so it should give you an idea what it would cost as a company car and what the equivilent is if you take the allowance.

I would say 5k is quite good really but it all depends on what sort of deposit you can put down. I'm a company car driver and the biggest issue with opting out is the initial deposit. You might have to take something older for a few years then move up to something like a new A4 2.0TDI unless you have some spare pennies in the bank. 169144-ok.gif

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David - there's no need for you to put down a large deposit of your own money if you're opting out and buying a car outright.

When I opted out and bought my car I paid £500 deposit with my own money. I then took a loan out for the rest of the cost (£19,500). I got the loan off my mortgage company over 6 years and it is on the same discounted rate as my mortgage is (BoE + 0.04%) which means the repayments are a little over £300/month.

What this means is the allowance I get covers the repayment no problem (after you claim your tax back).

After 3 years, the outstanding loan would be around £10,500 and as long as the car is worth that (which it should be) I could sell the car, settle the loan and walk away if I wanted.

I don't have a problem with not having any equity in the car because I wouldn't if it was a comapny car.

The amount of company car tax I save pays for the maintenance and insurance etc so in my case, a brand new Audi A4 Tdi Sport will have cost me less than taking the company Mondeo after 3 years.

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I understand your logic Milo, the trouble is my existing car allowance has just blurred into my salary. Because the Sportbcak is paid for, it has become difficult to seperate the allowance from the salary and therefore I just see the loan as an extra £300 to take out of the salary.

It's a tricky decision, I guess I'll wait and see the list and make a decision from there.

Thanks for your thoughts smile.gif

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[ QUOTE ]

....have just taken on a huge mortgage and I did not really want to buy, tax and insure another car. I was going to hand the Sportback over to the wife and get a nice new car, but maybe I'll keep it and get a less fancy company car. That's a bit boring though frown.gif

[/ QUOTE ]

Eh? Why on earth are you considering new if money has more important destinations at the moment? Opt out of the scheme, save yourself 10k in purchase cost alone over a B7 PD 140 by getting one of these...

A4 Avant PD 130 & 2002 PD 130 Denim

Absolute no brainer if you are looking to clock up 20k a year in a respectable Audi on a limited budget.

Ian

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