Dilemma: Company van or get raise and buy car

Brian...howdy!

Hey Guys,

I've a bit of a dilemma which I'm finding hard to decide on. So I've been given the option of a company van or raise and want to figure out which is better for me.

I drive 58,000km. After deducting what diesel, insurance and tax is atributable to me i am left with a difference of €5,000 per year. (At present i drive a 07 Ford Focus van returning 57mpg).

My options are these and I would love if you could help me decide:
1. Keep Focus van but i would prefer to get rid as has 235,000km on clock.
2. Buy second hand car
3. Buy new or recently new which has warranty cover of unlimited mileage (Thoughts on these unlimited mileage warrantys would be great)
4. Go for company van. Van would most likely be new caddy van which is great but as i do alot of mileage comfort is a big factor.

Would love to hear your thoughts.
Reason for buying car with these warranties is piece of mind as i have had older cars as i was just starting out i had a couple standing on side of the road days which i would hope to get rid of.

Idbatterim

how much of the raise would go on tax would? Whether or not you are being taxed at the marginal rate, would make a big difference...

4. Go for company van. Van would most likely be new caddy van which is great but as i do alot of mileage comfort is a big factor.

58,000 km in a caddy doesnt sound too good...

Brian...howdy!

The €5000 is after tax and after expenses on diesel, tax and insurance.

landmarkjohn

58,000 KM! At that mileage I'd be taking company vehicle... no two ways about it.

kevohmsford

Company Caddy Van would be what I would choose anyway. Might mileage to put up on your own car.

kay 9

If you're tall stay away from the caddy, especially if it has a bulk head. Very short on leg room and it seems to be more upright than a transit.

Kevin McCloud

Get the company van, do farming the weekends and evenings with it.

Casati

Take the money - even doing 58km a year you'll keep a decent car on the road for less than that, plus have the comfort/ advantages of a car rather than a van. I'd be looking a buying a really low mileage 141/142 - i.e. 5k on it, and keeping it for a year and trading in for another year old. You'd pick up a 141 Focus or i30 for circa 18k cash for example

Brian...howdy!

Thanks for your thoughts guys. Not much use for it at the weekends and evenings as a van would prefer a car for leisure time. What I've calculate so far is 51,500km for work and 6,500km for leisure driving per year. Cost of diesel, insurance and tax per year for this is €4,125 in my Ford Focus Van (57mpg). I would then have €5,000 per year for tyres, repairs and depreciation. Surely i think this would be a fair budget, i know depreciation would be my highest cost.

Casati that might be a good option. Would it be better to keep it 2 or 3 years as that would be 10k or 15k over the time ive had it? What is the manufacturer warranties like? I see Hyundai and Renault offer unlimited mileage?

Guys your further thoughts on this would be very helpful, thanks.

Casati

Brian...howdy! wrote: »

Thanks for your thoughts guys. Not much use for it at the weekends and evenings as a van would prefer a car for leisure time. What I've calculate so far is 51,500km for work and 6,500km for leisure driving per year. Cost of diesel, insurance and tax per year for this is €4,125 in my Ford Focus Van (57mpg). I would then have €5,000 per year for tyres, repairs and depreciation. Surely i think this would be a fair budget, i know depreciation would be my highest cost.

Casati that might be a good option. Would it be better to keep it 2 or 3 years as that would be 10k or 15k over the time ive had it? What is the manufacturer warranties like? I see Hyundai and Renault offer unlimited mileage?

Guys your further thoughts on this would be very helpful, thanks.

As your mileage is very high you have to be careful not to keep the car too long as it will lose a lot of value.

http://www.carzone.ie/used-cars/ford/focus/used-2014-141-ford-focus-2014my-editi-dublin-fpa-107914164139439180

Brian...howdy!

Ok say i was to buy this car and in the 5k budget I have 1k was for repairs & tyres and 4k for depreciation per year.
Would it not be easier sell this car in 3 years time for €5,499 rather than after 1 year for €13,499?