I've been offered a company car but I'm undecided whether to take it or not. It would be nice to have a vehicle with no innitial financial outlay but there's a lot more to it than that.
I've had company cars in the past and one particular incident left a sour taste, which may be clouding my judgement. This clerical error at my previous employer meant I was left with humongous tax bill which took years and a lot of hardship to pay back.
Another aspect to consider is that, if I was choosing a car, the Hyundai Getz wouldn't be anywhere near the shortlist.
Then again, it isn't every day you're offered a life of carefree motoring.
Talk to me please. I've got until Friday to make a decision one way or the other.
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I'll
save between £30 and £40 per month on insurance.
I'll
save £100 per month on fuel costs.
I'll
save £125 per month. The cost of replacing my current vehicle. I had planned to spend roughly £1500 on a banger which would, hopefully last 12 months.
I'll
save roughly £20 per month in servicing and repairs.
Total: + £280 per month.
I'll
lose between £106 and £136 per month in taxes.
I'll
lose between £75 and £100 per month in 'expenses'.
Total: - £207 per month.