Second hand car on business finance?

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markjay

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I am thinking of replacing the W203 with a late (facelift) W204 - 2012 to 2014.

Purchase (or lease) through VAT-Registered business.

Any recommendations re the best way of doing it? E.g. via MB Finance etc?
 
Get your box back from the Hatton Gardens gig and pay in Krugerrands :thumb:.
 
Get your box back from the Hatton Gardens gig and pay in Krugerrands :thumb:.

Good idea, buy my mates are otherwise preoccupied at current. It may be some time before I gain access to the loot.... :D
 
I am thinking of replacing the W203 with a late (facelift) W204 - 2012 to 2014.

Purchase (or lease) through VAT-Registered business.

Any recommendations re the best way of doing it? E.g. via MB Finance etc?

With lease prices as they are why do you want to finance a nearly new second-hand car through your company?

My accountant showed me for the mileage I do it would be cheaper to lease privately. The benefit of having your own ltd company is that you can take advantage of the business deals, but +VAT.

I'd just search online for a broker with the best deal. Chances are you'll end up signing a lease agreement with MB UK Finance Ltd anyway, but with a discount arranged with the broker.
 
It looks (from age of your current car) that you are probably going to keep the w204 for several years.

IMO lease deals are for people who keep car for 2-3 years, and I think most lease firms are set up to provide new cars, it might be harder to find a firm that will do lease finance on a used car.

For the above reasons a business loan might make more sense, but ask your accountant. You may be better off buying the car yourself (so no company car tax) and taking a mileage allowance from the ltd company.
 
VAT reg'ed business and leasing. If the business can support leasing a year old car it can no doubt afford a new car and possibly with sod all real difference in overall cost. Look @ Leasing new I'd reckon.
 
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Thanks for your replies.

I specifically want a late W204 and not a new (or used) W205. And I am aware that it is easier to buy a new car on finance than second hand.

My W203 was a late facelift and extremely reliable - I guess it's the 'Service Pack 1' syndrome..

Getting this done via the business seems to be more cost effective, though I am aware that this means the car will not stay with me as long as usual....
 
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Thanks for your replies.

I specifically want a late W204 and not a new (or used) W205. And I am aware that it is easier to buy a new car on finance than second hand.

My W203 was a late facelift and extremely reliable - I guess it's the 'Service Pack 1' syndrome..

Getting this done via the business seems to be more cost effective, though I am aware that this means the car will not stay with me as long as usual....

try Car Leasing Bargains | Business and Personal Contract Hire Offers who do used..
 
I've heard of a number of companies leasing one year old cars recently, also reduces the tax the employee has to pay as the value of the car is less so someone I know that has done it said... worth checking with one's accountant/tax consultant tho
 

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