So… Just been offered a new job that apparently comes with a company car.
There’s was no mention of it in the JD/ benefits when I was interviewed so it was a bit of a surprise.

What are the downsides to a company car these days. Never had one before.

Thanks…

Downside is you’ll pay tax on it according to emissions and what its worth, had a Focus 1.5 diesel that cost about £100 a month, the a Golf GTD at about £145. Good sides should be no servicing costs, no insurance, tax or MOT costs, if it breaks someone just fixes it. And, you know – free new car! 🙂 New job comes with an allowance instead of a car, which I think is financially a bit better – but I sure miss the GTD… 🙂

I have a company car for the next 6 months then the company will be offering me an allowance.
Only drawbacks to a company car are tax and sometimes more limited choice by trying to choose a car which lowers your tax.
Everything else is great. No insurance or maintenance worries, if you crash it no ncd worries, if it breaks no cost to yourself .
I currently have a GTD which is great.

I can have a company car but I don’t because I can take the cash instead. The money I’d lose in cash and tax would be around £500/m for a pretty ordinary car so it’s not worth it at all for me. And you never get the joy of owning your own car.

Anyway enough of this, I’m off to change my cam belt.

And you never get the joy of owning your own car.

This. My last car was a company car as my wife’s work changed their policy (previously cash for car), and we never really felt it was our own. The fact we were paying an additional contribution yet her colleagues could drive it was annoying.

This time I’ve bought outright (delivery mileage so essentially brand new with 35% off) and it feels much more like my own car, and as an aside is a much nicer car for the same overall cost.

Thanks for all the info, at present (if I accept the job!) I’ll be keeping my own car, and also passing the runabout (bangernomics special!) onto our eldest as she will be 17 not long after my start date.
My own car is paid for and only £30 a year to tax, the only real cost is insurance but I can swallow that in the short term as I paid up front this year.
I’ll need to look at the tax implications and once I have a formally accepted the job offer I may chase to see if there’s an cash alternative.
Ironically I’d be swapping an 80 mile a day commute in my runabout for a 6 mile a day commute in something shiny and new.

I’m getting an idea that the Car bit is a typo if it wasn’t mentioned in the job ad, interview, JD etc.

Especially as the age of a car as a perk has gone, it’s just not that tax efficient these days, it’s usually reserved for people who need a car to work, not for commuting.

I’ve always had company cars and never owned a car, only motorbikes. The benefit is that somebody else sorts out the bills and pays them and all you do is pay tax on it as a benefit in kind, which seems to be a pretty good deal.

No not a typo, mentioned on the phone and subsequent email.

Hopefully find out more today or Monday.

Going back to the point made earlier about owning a car, its really not a factor anymore, I wouldn’t be in the least bit bothered if Ifound myself as a non car owner in the future.

I’ll need to look at the tax implications

Dead easy go to http://www.comcar.co.uk and enter your details and you get accurate tax costs for almost any car out there.