homerj Posted October 27, 2005 Report Share Posted October 27, 2005 Well the tax man has finally finished me off. Can't afford to pay the company car tax on the S Line anymore, or to put it correctly, the car is not worth the taxable benifit which I have to pay. I'm therefore jumping out of the company car scheme, and will be funding my cars privately from now on. To do this I need to shift the S Line, and plan to trade it in for a low miliage TT or something, as I want to switch quick and not wait for build weeks etc. Just wondering what people felt my car would be worth on a trade in, spec is as follows : 2004 04 A4 1.8T Quattro S Line Avus Symphony Bose Xenons Front Armrest Electric R/W Autodip Rear view with Auto Lights ISOFIX 20,500 miles Dealer has offered me 14.5k, which seems rather low. If anyone has a Glasses guide or similar, a correct part ex and private sale price would be appreciated. Thanks in advance ! Link to comment Share on other sites More sharing options...
Ari Posted October 27, 2005 Report Share Posted October 27, 2005 Assuming £3K worth of options and that youu are in the 40% tax bracket, you'll be paying £273.96 a month in tax. I guess it depends how much extra they'll pay you for opting out (which will also be taxed of course) but do your sums very carefully, depriciation alone is probably that much or more. I know so many people who've opted out only to really regret it when the real cost of running their own car hits them. Why not just change to a more tax efficient company car? An A4 S-line with the same £3K of options, but a 1.9Tdi 2wd will cost you £164.45 a month in tax. Quite a saving for exactly the same car but with a diesel engine. Link to comment Share on other sites More sharing options...
Frodo Posted October 27, 2005 Report Share Posted October 27, 2005 I have a 54 S-Line Saloon with quite a lot of options, see sig, put this through Glasses, costs £2.95, it was coming back at about 14.5K trade upto 18K retail. Looking on approvedcars.co.uk for S-Lines on forecourst they are up for about 21K so think I might go with 18,995 to start with. Link to comment Share on other sites More sharing options...
Sponge Posted October 27, 2005 Report Share Posted October 27, 2005 If you go to the Vauxhall website, you can get a free Glasses valuation. Use their menu > Owners > Value your car Link to comment Share on other sites More sharing options...
shark_90 Posted October 27, 2005 Report Share Posted October 27, 2005 Audi A4 SE 1.9TD Diesel 4-door Saloon 5 Speed Manual Front Wheel Drive Year: 2001 Y Mileage: 135,000 Part-exchange Price: Excellent condition: £5770 Average condition: £5150 Below average condition: £4520 I DO hope they are joking!!! Link to comment Share on other sites More sharing options...
Chav Posted October 27, 2005 Report Share Posted October 27, 2005 [ QUOTE ] Audi A4 SE 1.9TD Diesel 4-door Saloon 5 Speed Manual Front Wheel Drive Year: 2001 Y Mileage: 135,000 Part-exchange Price: Excellent condition: £5770 Average condition: £5150 Below average condition: £4520 Completely fecked condition from driving like a nob and "entertaining" sheep in the back: £1.27 [/ QUOTE ] The figures look fine to me. Link to comment Share on other sites More sharing options...
Daz Posted October 27, 2005 Report Share Posted October 27, 2005 Don't forget they are trade in prices quoted and not retail prices. Link to comment Share on other sites More sharing options...
Milo Posted October 27, 2005 Report Share Posted October 27, 2005 [ QUOTE ] I know so many people who've opted out only to really regret it when the real cost of running their own car hits them. [/ QUOTE ] Too true although a lot depends on the cash equivalent you're offered, the mileage you do and the car you pick. If you do a lot of miles or pick a car that has scary depreciation you're going to be knackered. Opting out for me, was the best thing I could have done and it gave me a new Audi A4 for ultimately less money than I was paying in tax for a Mondeo. And that takes into account all the expenditure I have incurred including tax, insurance, dealer servicing and maintenance Link to comment Share on other sites More sharing options...
Sponge Posted October 27, 2005 Report Share Posted October 27, 2005 Count yourself lucky Shark! [ QUOTE ] Audi A4 Avant S Line 2.0TD Diesel 5-door Estate 6 Speed Manual Front Wheel Drive Year: 2005 55 Mileage: 1,000 Part-exchange Price: Excellent condition: £0 Average condition: £0 Below average condition: £0 [/ QUOTE ] Link to comment Share on other sites More sharing options...
Frodo Posted October 27, 2005 Report Share Posted October 27, 2005 Okay I'll offer you £1 that is a infinite percentage upgrade from what you are being offered Link to comment Share on other sites More sharing options...
Ian_C Posted October 31, 2005 Report Share Posted October 31, 2005 [ QUOTE ] I'm therefore jumping out of the company car scheme, and will be funding my cars privately from now on. To do this I need to shift the S Line, and plan to trade it in for a low miliage TT or something.... [/ QUOTE ] Fully appreciate why you are getting out of the company car scheme, but why are you parting with the quattro S line? Ian Link to comment Share on other sites More sharing options...
homerj Posted November 1, 2005 Author Report Share Posted November 1, 2005 [ QUOTE ] [ QUOTE ] I'm therefore jumping out of the company car scheme, and will be funding my cars privately from now on. To do this I need to shift the S Line, and plan to trade it in for a low miliage TT or something.... [/ QUOTE ] Fully appreciate why you are getting out of the company car scheme, but why are you parting with the quattro S line? Ian [/ QUOTE ] Thanks for all the replies guys, and apologies for posting and then disapearing. The above is a good point and one which I have given some more thought to since originally posting. I'm now considering buying the car from my company, and running this car personally for the remainder of the three years I planned to keep it. The advantage to doing this, is that the car has been depreciated on the books and will therefore be worth around 12k to the company at the end of this year. I will therefore arrange to buy the car from the company at as close to this figure as possible (I beleive you have to pay a reasonable trade price for the car, even if you are buying from your own company, my dealers low quotes may be of bennifit here) which will mean I will pay alot less for this car than I would pay for a similar spec / quality car from a dealer. Should also give me an advantage come sale time, as it should give me alot more equity in the car, to put down on a new car and reduce the personal pain of running a car slightly. Link to comment Share on other sites More sharing options...
Philbes Posted November 1, 2005 Report Share Posted November 1, 2005 MILO "And that takes into account all the expenditure I have incurred including tax, insurance, dealer servicing and maintenance " What about the biggest expense of all - depreciation? Link to comment Share on other sites More sharing options...
Milo Posted November 1, 2005 Report Share Posted November 1, 2005 Everything is factored in mate including depreciation Way back when I was working out what the potential costs were if I opted out of the company car scheme, I knew how much I was going to have to pay for it and in the spreadsheet I put in a figure I thought it would be worth come p/ex time after 3 years. I didn't try to kid myself and put in what I considered to be a reasonable figure going off the inforamtion available at the time A very helpful TSNer has just sent me an up-to-date Glass's Guide valuation and it appears I was very conservative and I got a pleasant surprise I also had a monthly allowance in for contingencies such as punctures and other unforeseen things Link to comment Share on other sites More sharing options...
Philbes Posted November 1, 2005 Report Share Posted November 1, 2005 When I had a A4 1.8T(163) Sport saloon as a company car the amount I paid in 40% tax on the 'benefit' was less than just the depreciation over 3 years. So I was definitely better off taking the company car, especially as any problems, accidents, etc. didn't cost me anything. (I didn't have any accidents) Link to comment Share on other sites More sharing options...
Milo Posted November 1, 2005 Report Share Posted November 1, 2005 In my case I get a fairly decent monthly cash allowance if I opt out. I only do approx 9000 miles a year so my maintenance costs are very low over 3 years (1 service + 2 tyres). Here is an overview of the spreadsheet I originally used to estimate the costs of opting out. This particular one is the one I also use to keep a running total of exactly what the car has cost me. There are basic calculations behind the figures you can't see but it means that after 3 years assuming the car was only worth £11,750 then it would have cost me approx £56 per month out of my own pocket to opt out of the scheme and drive an A4. This £56 compares to £130 something I was paying a month in tax for a Mondeo. In my opinion it was worth opting out and taking the risk regarding accidents etc The figures in the spreadsheet are not exactly the case as I have overpaid my loan and the car is worth a little bit more than I first thought Link to comment Share on other sites More sharing options...
farhan Posted November 2, 2005 Report Share Posted November 2, 2005 HomerJ. I sold my S-Line (similar age to yours) more spec...sat nav, sunroof, auto - but not quattro, for £18,750 back to the dealer I bought it from initially. Did have a few folks offer me £13k though! Hope that helps! Link to comment Share on other sites More sharing options...
Dadstoys Posted November 2, 2005 Report Share Posted November 2, 2005 Glasses September issue quotes trade buy-in price of £15,700 with 18k mileage, and a retail price of £17,700. Link to comment Share on other sites More sharing options...
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