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Buy or Lease company car

  • 01-01-2021 09:16PM
    #1
    Rossdarragh1
    Registered Users, Registered Users 2 Posts: 94 ✭✭


    Hi all,

    I'm starting a company in February and looking at a company car. I'm currently working for a company and have a company car but I'm leaving my current employer at the end of this month to start my own company.

    Obviously when I leave my current employer I'll have to give back the car.

    As part of my new company in February I'll be looking to get a company car. My question is does it make sense for me to lease the car through a hire company or buy one through the company?

    I have cash but would prefer not to spend it on purchasing a new car as I may need it in the initial months of the new venture. If after a few months I felt the cash reserves were not needed I may look at buying a car outright if it made financial sense to do so.

    I'd be taking a salary out of the company, it will only have two shareholders, my husband and I. He already has an income and will not be taking a salary. I'd expect to do over 30K km a year. I'm not looking to spend outrageous money on a car but at the same time will need something comfortable given the mileage involved . Hopefully someone on here can impart some advice. Thanks for your help.


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