Page 1 of Car Car Car Leasing...

Hello! :)

Just looking at leasing a Car for a business. Can anyone please recommend a company to lease a car with?

Looking for a fast good looking diesel for about 240 a month (poss tdi passat?)

&

Sporty 2 + 2 womans car petrol.


...Or any advice in getting the cheapest option when getting a company car for an employee.

cue Bowfer........ ;)

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Companies that have p**sed me off so much that I will never use them again and I hope you dont either....
Alloy Bodies of Manchester - The Grand Daddy & Benchmark for shockingly poor customer service.
Capital Bank Leasing who are part of BOS & are f**ing useless & struggle to action the smallest request but are fantastically efficient at taking money out of my account
Abbey National Absolutely diabolical service - how hard is it to change £60 of coins into notes????
....more coming soon no doubt.....

Quote:
Or any advice in getting the cheapest option when getting a company car for an employee

I`m taking that as you having car for someone else?

Company car for an employee you will only get 25% of value up to limit of £3,000 a year as deductable from your profits. (Trying not to get too technical here.)

The only tax employer has to pay is Class 1A NI on giving the benefit, which is 12.8% of the deemed benefit (was for 2005/06, don`t think it`s changed but might have gone up). The employee personally will be liable to tax on the benefit though.

The company car benefits are based on the market value brand new of the vehicle and co2 emissions so if a company car is 10years old the benefit is still based on the value when brand new so need to watch that.

The way the benefit is calculated is basically based on the co2 emissions a percentage of around 18% up to 35% on the market value is deemed as a benefit in kind, therefore an employer will have to pay 12.8% on the value of that as Class 1A NI (but that is then a deductable expense for tax purposes aswell :/ )

If private fuel is payed for by you, you also need to use the co2 percentage on £14,400 to work out the benefit on kind for paying their fuel.

The employee will pay tax based on whatever the benefit is deemed to be as if that amount was extra wages salary.

If possible get a van (this can get tricky when you are talking about pick ups as certain ones are treated as a car and certain ones as a van), you get 50% of the cost deductable from tax with no limits like on cars.

For the benefit in kind for vans the deemed value of the benefit in kind is only treated as £500 or £350 if the van is more than 3years old. Thats going to change by quite a bit after 5 April 2007.

I wish I hadn`t read this thread now ;) , I`m drinking on Friday night and started quick answer and started getting out of hand :B :/

Worst thing is thats most simplified I could do :/

Edit- Don`t have a clue who`s best to lease from but if market value of vehicle leased is over £12k then a certain a percentage of the leasing cost is also not allowable for tax purposes :B


My DVD collection

"Looks like I picked the wrong day to stop sniffing glue."

This item was edited on Friday, 20th October 2006, 21:33

I know someone that works for a leasing broker - I will PM his details if you like?



why take life so seriously..its not like you are going to make it out alive

1mills thanks for words of wisdom :D - doesn't mean a lot to me :/ but I will pass info onto my Dad (he is the one needing it).


Quote:
I will PM his details if you like?

Please do yeah, no harm in trying thanks :)

This item was edited on Saturday, 21st October 2006, 00:59

Yes send in an email so you don`t have to explain and look like the clever daughter and justify the money that has been spent on university ;)

My DVD collection

"Looks like I picked the wrong day to stop sniffing glue."

^^Hehe, you know me so well :-D lol. Exactly what I was thinking of doing haha :-D


Edit: Ooo, you heard any more on foot ball ticket?? :D ??

This item was edited on Saturday, 21st October 2006, 01:09

I`m sorry mate, the lad got hold of me >:(

Oh well,on Monday you`ll be glad you wasn`t there :o

(Please insert your own anti scouse song here please)

My DVD collection

"Looks like I picked the wrong day to stop sniffing glue."

This item was edited on Saturday, 21st October 2006, 01:35

There are umpteen leasing companies.
I can`t recommend one more than another.
We tend to go with Arnold Clark business leasing these days,FWIW.
One to avoid,IMO,is VW finance themsevles ( if going for a Passat ).
They are just so,so picky when it comes to he end of the lease.
Most companies are quite fair with regard to wear and tear.
VW finance seem to want 3 year old cars back in showroom condition.
They one tried to bill us for a missing central locking remote `plip`,when the car in question didn`t come with remote central locking... :D :D :D :/

Sminty...looks like the guy I know is on hols....will mail you when he gets back.

:)

why take life so seriously..its not like you are going to make it out alive