That’s a good allowance iain1775. What list value of car do you run?
I’ve estimated you get about £7.5k in your pocket, which should cover full running costs of a half decent car.
Really?
How do you work that out?
I pay tax at 40% on the 6500
Fuel costs around 11pence per mile, I get 17p (difference to 40p just affects next years tax code)
How do you end up with me having 7.5k in pocket at end of year?
But yes I am much better off now that i was when I had company car and fuel card. My tax code is far more favourable now
I got an 11month old Hyundai i30 Premium with 8k miles on clock for 10k. Has more bells and whistles than my old company Beemer used to
I will pay the initial loan off comfortably from the allowance over 2 years, keep car another 2 whilst raking in the allowance, should get me a decent deposit for next car, when this one will be handed to the wife and her existing car sold
Im not really fussed by flash cars, been there done that but being company cars I never owned them outright. Happy to run around in this for a few years, it has comfy seats and cruise control, thats enough for me up and down the M6 to Scotland!