I get £300/month, or a car. its not that low – you can easily lease a car for it, but you get a better car under the scheme. from my experiance, it boils down to
Do you want a newish car, and if so, is it relatively economical
you answer yes to that, get the CC. It’ll depend on your scheme though, ours makes you keep cars for 4 years. Doing man maths..
Cost to run a banger – £1200/year (tax, insurance, depreciation, mot, tyres, repairs, etc)
£300 take home at 40% tax – £260
not paying company car tax – £60
Total ‘extra’ money – £200
I don’t ever have to drive for work, and only do limited miles, so the banger route works well for me. Guy sitting next to me does 30,000 miles a year. after 4 years a brand new car is worth almost nothing (lets say 2 grand) – so he gets the scheme.