As Guernsey is VAT free I wondered if this created an anomaly where the cars have an abnormally high residual percentage against purchase price as year one depreciation on the mainland is almost entirely the VAT content of the vehicle. So effectively you're not financing what would be the best part of £9000 in purchase tax.
I raided the piggy bank for part of it, or actually, will be doing when we get a delivery date, and the deposit for the order £3k, plus the difference between that and the P/x value of the current car and a bit of haggle (which to be honest was a gamble that paid off as I felt it was worth asking), which effectively meant I need to find £20k.
And strangely, i seem to have secured a relocation assistance allowance which just happens to pay out for 3 years, and covers the require payments. You can't access MB finance here, so they have deals with lending institutions. The more you borrow, the cheaper the interest up to £22k. For Hawks benefit, the deals at this time are APR 4% down to 1% for anything above £18500. Beyond that it goes onto fixed rates which are mortgage equivilant, but you don't get MIRAS on a loan for a car. Mortage rates here, are (with RBS Internatonal anyway) 0.5% above whatever the bank of england rate is.
Big deposits needed for Mortgages and loans above £10k
So, work is paying for this as it happens.
And as I work for the Government, its the tax payer who is paying.
Luck played 99% of this as I really was just looking in the dealer for a replacment car. It was only when I did the figures on a £38k Porsche 911 turbo that I put things in place.
A fully boxed Ticked C63 Estate here would cost £50235, or £52800 if you add the driver training.
But you can't export it for 6months, and you effectivley have to keep it in the UK for 6months after that before registering it. If I get the time, and if I find the place again I may take a piccie of the FORDS stored over here.
Oh yeah, no road tax either.
Unleaded, 77p a ltr yesterday.