Company Cars

[DSLiverpool]

I have decided to buy 2 or 3 members of my team new cars on contract hire as an incentive to a, perform and b, stay with the company.

No problem getting the cars AUF Warrington undercut the dealer by 30% over 3 years for a better model car (Mini Cooper D Chile) but insurance is a nightmare.

As ever can any knowledgable members advise on company car insurers, I have tried the usual suspects but its working out at £600 a driver (all over 30, no business use except commuting)

TIA

 

[jonnyboy]

have pm'd you

 

[timskemp]

How many cars will it leave you with in total? If it's five or more you should be able to get a mini-fleet policy from a specialist, but from memory (it's a few years since I did it) the excess will be high. There was no NCD taken into account either, £600 a driver wouldn't surprise me as claims are quite common on business policies - with all the will in the world drivers never seem to look after company cars as their own...

 

[fabes]

Would recommend a broker for a minifleet cover

As company cars, its makes little difference having some level of business mileage on the cars - just not 'commercial travelling'

I presume you've tried yor broker you arranges your business insurance - you may find that the company that does that will offer a good deal on the cars.

The excess is the best way to vary the price on a company car (any driver) policy as well

Fabes

 

[timskemp]

I have decided to buy 2 or 3 members of my team new cars on contract hire as an incentive to a, perform and b, stay with the company.

TIA

BTW - if you need a rep for this area, or an installer, you already know my credentials! Make mine a W212 E350CDi with airmatic, comand and logic7 please!

Tim

 

[DSLiverpool]

My cars are not company cars so it will be 2 / 3 cars in total will follow up the leads given by PM, thanks all - Tim we couldnt afford you mate LOL

 

[Rory]

Quoting premiums is a bit pointless without knowing the excess - it can make a huge difference.

In my last medium sized company they had mainly Audi A4 and BMW 3 series and were paying approx £400 per car (full business, any driver) but there was £1000 excess. Even so, there was a lot of argy bargy as for several years the insurance company was paying out about the same amount as we paid in premiums.
I understand that many larger companies are 3rd party only.

 

[DSLiverpool]

All sorted with Jonnyboys broker, cars will be here sept Cooper D`s with Chili at £220 + vat a month, the CO2 is very very low on these so costs about £50 a month we are told.

Its got me thinking to chop in the CLS and get a company car for myself but Im not sure how to calculate it can anyone make it simple please

TIA

 

[blondebier]

I have decided to buy 2 or 3 members of my team new cars on contract hire as an incentive to a, perform and b, stay with the company.

We've been thinking about this too. Getting good guys to stay for more than a couple of years is an issue...

What are the tax implications like for you DSLiverpool?

Most people we speak to these days reckon company cars aren't worth it any more as a benefit...

 

[fuzzer]

All sorted with Jonnyboys broker, cars will be here sept Cooper D`s with Chili at £220 + vat a month, the CO2 is very very low on these so costs about £50 a month we are told.

Its got me thinking to chop in the CLS and get a company car for myself but Im not sure how to calculate it can anyone make it simple please

TIA

Bmw's blow the mercs out the water when it comes to company cars Co2

 

[Bobby Dazzler]

Most people we speak to these days reckon company cars aren't worth it any more as a benefit...

Unless you're doing high miles then the benefits aren't there for many company car drivers.

Personally speaking, our green cerdentials mean that it's diesel or hybrid only - no AMGs or SUVs, or even a petrol engined car!!

Ironically company policy also means I can't use a SMART for company business - no two-seaters or soft-tops - which is part of the reason I've not taken the plunge a couple of years after thinking it would be a good idea to get one.

 

[DSLiverpool]

The minis cost us £220 + vat and the user £50 ish a month - thats it, we are not paying fuel and they are perk cars not for biz use, insurance is about £300 a person.

I fancy (sorry) a 335d M sport coupe cos its a great engine, would cost me £165 a month in tax - bargain ???

 

[Bobby Dazzler]

I fancy (sorry) a 335d M sport coupe cos its a great engine, would cost me £165 a month in tax - bargain ???

At the risk of going off topic, I really rate these 35d engines.

Only yesterday I saw a 335d estate yesterday being driven in a spirited way - OK he was racing an E39 530d from dead start at an island on a multi-lane carriageway.

The 530d accelerated hard up to his bumper, and so the 335d reciprocated - the 335d was pulling away with none of the black smoke the 530d was blasting out. Impressive.

If it wasn't bad enough that the 335d was leaving him behind, I might have made it worse when I went round him too.

Not too be out done, when the 335d and I eased off as we'd reached a safe cruising speed, the 530d kept it nailed to show us who was boss.

 

[blondebier]

Thanks Guys. I wander if they'll be happy with £50 per month...

Cash being king, I think they'll probably opt for that instead.

Trouble is - they'll probably want both!

 

[fuzzer]

At the risk of going off topic, I really rate these 35d engines.

Only yesterday I saw a 335d estate yesterday being driven in a spirited way - OK he was racing an E39 530d from dead start at an island on a multi-lane carriageway.

The 530d accelerated hard up to his bumper, and so the 335d reciprocated - the 335d was pulling away with none of the black smoke the 530d was blasting out. Impressive.

If it wasn't bad enough that the 335d was leaving him behind, I might have made it worse when I went round him too.

Not too be out done, when the 335d and I eased off as we'd reached a safe cruising speed, the 530d kept it nailed to show us who was boss.

335d has a particulate filter , E39 530d doesnt

 

[st4]

335d has a particulate filter , E39 530d doesnt

E39 530d is about 180bhp. Good at the time but now a 3lite diesel is expected to produce nearer 220bhp. A 520d is 170odd bhp now. How technology moves on.

335d 286bhp. Walk in the park for it. Brutally fast car.

 

[fuzzer]

E39 530d is about 180bhp. Good at the time but now a 3lite diesel is expected to produce nearer 220bhp. A 520d is 170odd bhp now. How technology moves on.

335d 286bhp. Walk in the park for it. Brutally fast car.

E90 330d is 245bhp - 335d is 284bhp and 320d is 177bhp

 

[timskemp]

The minis cost us £220 + vat and the user £50 ish a month - thats it, we are not paying fuel and they are perk cars not for biz use, insurance is about £300 a person.

I fancy (sorry) a 335d M sport coupe cos its a great engine, would cost me £165 a month in tax - bargain ???

335d M sport. Hmmm. Yes it's got a good engine, but so has the new E350 cdi coupe.

Fleetnews reckons 335D M sport is benefit of 18% of £38100. That's £6858 onto your income, which if taxed at 40% is £229/mth. Then the company has to pay to run it, and if you take free fuel there's tax on that too.

E350CDI coupe sport, benefit is 18% of £35050, and the depreciation (and therefore rentals) are expected to be cheaper too.

 

[st4]

335d M sport. Hmmm. Yes it's got a good engine, but so has the new E350 cdi coupe.

Fleetnews reckons 335D M sport is benefit of 18% of £38100. That's £6858 onto your income, which if taxed at 40% is £229/mth. Then the company has to pay to run it, and if you take free fuel there's tax on that too.

E350CDI coupe sport, benefit is 18% of £35050, and the depreciation (and therefore rentals) are expected to be cheaper too.

And you get a bigger car with the E350cdi coupe but not quite as much power. I'd rather have a 212 or a 204 at that money. Actually no, I'd take the 6858/yr pay rise

 

[DSLiverpool]

Im at MB Chester sat am getting the rev sensor swapped and the wheels inspected so will ask Asher about it and have a looksy.

The CLS costs me £700 nett anyway so a tax bill of £2500 is a bargain I spose