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I have never had a car allowance always had company car, but this new job is saying I can have a car allowance of £350 a month or company car.
What is the standard rate for car allowance, is £350 a lot, a little or the norm?
I will be doing 15,000+ miles I reckon, and I can’t seee where I can get a decent car in that range, but I haven’t really looked that hard. Is there anybody in the know?
Is there nobody on here that has a car allowance/company car that can give a little insight or example?
I need to make a decision and googling is useless.
I dont think so £16 weekly bus saver is the best I can offer :|
Is there nobody on here that has a car allowance/company car that can give a little insight or example?I need to make a decision and googling is useless.
Bobby, I have had them in the past and they can vary in how they work. for example, is the car allowance in place of being allowed to claim mileage? In other words, are you expected to cover all car costs with the £350.
Also, for £350 a month, you can get good lease contract deals which means you can just give the car back at the end of the deal, but it really depends on the small print of your employment contract. There are different tax arrangements too, though they aren’t usually substantially different.
Feel free to PM me if you want to pick my brains – it won’t take long.
As Griff says watch out for the tax implications of the lease scheme’s. But if you go for a lease they tend to hit you with a milage limit, if you go over this you get hit hard with penalties.
Most people I know who have had car allowances said it wasnt worth it.
I am expected to lease/buy a car of my own, tax it, insure it, maintain and service it. £350 just doesn’t seem a lot when the cheapest leases run into the 300’s unless I go for a small car that will probably kill my back off.
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