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Company Car V Private Car used as Company Car

  • 04-12-2015 9:44pm
    #1
    Sanchez83
    Closed Accounts Posts: 277 ✭✭


    Hi there,

    I currently have a company van which I pay nothing towards.
    For 2016 I have been offered the choice of the following-
    1.Company car-I must pay benefit in kind but all expenses paid by company.
    2.Private car-Company purchases car for me(I will own it) but I am responsible for all running costs.

    My mileage will be above 48000km per year.Vehicle value 30k.

    Which do you think is the better option?
    Is there more info required?


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    How often will your employee change your car? Do you care how old your car is?

    The BIK is 6% of €30,000 for over 48,271 business kms per annum. So €1,800 at 51%. No car costs no depreciation.

    You could buy your own car. What is the insurance, motor tax, servicing, finance and depreciation (what's the car with 180k kms on it worth after 3 years) going to be each year? Or how much does it cost under a PCP?

    Say your employer pays you 50c for 6,000km and 25c for the balance that's €13,500 per annum in mileage.


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