Anyone here able to help me work out whether I am best to stick with my car allownace or to opt back in to the company car scheme?
My companys alloowance isn
t overly generous,but I first want to compare real world costs.
Trying to work out what info I need to consider to properly compare the 2.AS I see it:
Car allowance
-Capital cost of car (No finace in my case)
-Depreciation over say 3 years
-Insurance
-Tax
-Servicing
+ free choice& flexibilty
+ 40p a mile business use
Company car
-BIK tax
-Loss of allowance
+ I get a newer car
+ no need to budget for tax/insurance/servicing
+ Likley to be significantly more economical when using private use fuel
Anything I`ve missed.
Anybody done this as a real world exercise and offer any advice?