Contract Hire Company Cars

[comethekingdom]

The guys who are entitled to a company car in our Employment Taxes department don't take them up.  Go figure.

What would an average car like a focus for example cost you in net pay each month anyway? There must be some advantage? If you get fuel, tax, insurance, depreciation and maintenance all paid for there has to be an advantage?  Eg - take average depreciation of €4-5K, Tax & ins - €1K, Fuel - €50/week for a yr = €2.5K , maintenance €500. Total = 9 - 10 grand ish ( very rough figures!). Surely if you have a company car you are not going to be docked 8 or 9 hundred euros every month from your net pay??

[JUst retired]

Company cars used to be a great perk in a job,not any longer.I found after 20 years with one,after I retired from the job and went for private insurance I went back to a "new driver status. No claims bonus didnt count even with a letter from my employer saying I never had an accident. With income tax and company fuel taken into account I lost about £500 per mth.I also had to record company miles and private miles for petrol usage. This was a pain in the a%%.
If you are a smoker you cant do it in a company car,even if you are driving it in a private capacity.
Ok it has good points like a new car every few years,{in my case 2 yrs due to big mileage} but I sttill would not go back to one.

[Applesisapples]

Company cars work for anyone doing high private mileage, if you are not then it is better to take the allowance. However this would depend on the the type of car on offer. The up side is even if you are paying a little more in BIK you need never worry about breaking down and you will always have a new car.