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Your idea of the perfect company car
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08-03-2011, 05:26 PM | #24 | |
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If I was sure I was stopping then it would be worth it but if I left after 1year then the bill would be £1800. Great car though. |
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08-03-2011, 06:27 PM | #25 |
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08-04-2011, 02:50 AM | #26 |
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318d is the sensible option, I went for something with a little more power with the 320d having come from a 1 series with the same 143bhp engine as the 318d I wanted something with a little more punch.....still its no 335i lol
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08-04-2011, 03:10 AM | #27 |
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Why has no-one mentioned the 320d efficient dynamics? No brainer right there.
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08-04-2011, 03:18 AM | #28 |
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I don't have a company car and I don't think I want one. People might start to expect me to do stuff, like drive places to meet people and it could mean I'd have to get up early. Or be home late for dinner.
Of course if someone just gave me a car, I'd be quite happy. How does the tax work on company cars if they are provided as a perk for 100% personal use? Is it like getting a free car or does the extra tax make you wish they just upped your basic pay instead? |
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08-04-2011, 05:49 AM | #29 | |
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08-04-2011, 05:52 AM | #30 | |
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From memory the 320d ED cost more than the 318d which limited the options I could add. |
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08-04-2011, 05:56 AM | #31 | ||
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Basically your are taxed on the P11d value of the car and it's emissions. The higher they are the more you pay. A 320d v 318d is an extra £40 ish pounds a month. My car costs me £120 actual cash which is deducted through your tax code. It does not matter how you use the car. |
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08-05-2011, 02:26 AM | #32 |
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08-05-2011, 03:27 AM | #33 |
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Drives: e90 320D ED
Join Date: May 2009
Location: Royal Berkshire
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i have a 320 ED, with over £7k of options tax is under £150pm. nothing better in the market today. OK it runs on 16"s, i dont care to be honest. i have some 18"s sat in my garage anyway! LOL
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08-05-2011, 03:34 AM | #34 |
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That is genius! He also says there is a V10 version
7k of options!?
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08-05-2011, 04:24 AM | #36 |
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08-05-2011, 05:19 AM | #38 |
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Drives: e90 320D ED
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visibilty pack heated leather sports seats sun glass folding rear seats business hifi upgrade arm rest cruise control think thats it.... LOL i didnt pay! but it ended up just under £35k for a 320d!! LOL
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Its all about the mpg!
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08-05-2011, 05:22 AM | #39 |
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Never understood how the company car thing works!
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Previously: 2003 Peugeot 206 1.6 8v | 2006 E90 320d M-Sport, 19" BBS CH, Full Ice-cold JL audio install, August 2010 Total BMW 6 page feature car. | 2003 Nissan 350Z GT Coupe 286BHP
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08-05-2011, 06:06 AM | #40 |
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The system changes every few years.
It currently works on the emissions of your vehicle dictate dictate what percentage of its retail value (including options) you pay tax on. So, using my car as an example: It has an emissions figure of 319 and a tax band M Based on a £60,000 full retail value figure and a private fuel allowance I am taxed @ 40% on £27,580 worth of benefit per annum (the car being £21,000 and the fuel £6,580) This equates to £11,032.00 in tax per year.
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08-05-2011, 06:09 AM | #41 |
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Its pretty straight forward.
The company give you a car to use as you wish and the HMRC make you pay tax on its value and emmisions as its classed as a benefit. On average a 40% taxpayer driving a 318D will pay £120 a month actual cash to the HMRC. The HMRC have a chart that links the emmisions to a % cost. I think that the 318D is based on 13% of the cars value and the 320d on 14%. You could say that all I pay for a fully funded and maintained £29K BMW is £1440 per year. That includes all insurance and associated costs. Cheap motoring!! Except I have only got 143BHP to play with. |
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08-05-2011, 06:14 AM | #42 | |
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08-05-2011, 07:01 AM | #43 |
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Makes sense..
So who buys the car from BMW? A leasing company? Or HMRC. I guess it wouldn't be your company leasing direct from BMW?
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Previously: 2003 Peugeot 206 1.6 8v | 2006 E90 320d M-Sport, 19" BBS CH, Full Ice-cold JL audio install, August 2010 Total BMW 6 page feature car. | 2003 Nissan 350Z GT Coupe 286BHP
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08-05-2011, 07:08 AM | #44 | |
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My company are good in as much as I can add any extra to the car as long as I pay the cost of that extra each month. I have a limit of £450 so I could have ordered a Golf TDi for £300 and had £150 a month paid as salary. |
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