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Increase in cost to own a car?

  • 06-04-2019 02:19PM
    #1
    Superfoods
    Closed Accounts Posts: 311 ✭✭


    Looking for some advice or guidance. I have an option of company car or I get additional added into wages. I have always just got with additional into wages and then get a small sum per km.

    I have never really thought about it but this has never actually increased since circa 2006.

    If I have a look at the cost to buy a new car today the cost has increased a good bit if I compare to a few years ago. I am just wondering is their anyway I could provide the increase in the cost to own/maintain/buy a car over the years?


Comments

  • #2
    daheff
    Registered Users, Registered Users 2 Posts: 6,103 ✭✭✭daheff


    Superfoods wrote: »
    Looking for some advice or guidance. I have an option of company car or I get additional added into wages. I have always just got with additional into wages and then get a small sum per km.

    I have never really thought about it but this has never actually increased since circa 2006.

    If I have a look at the cost to buy a new car today the cost has increased a good bit if I compare to a few years ago. I am just wondering is their anyway I could provide the increase in the cost to own/maintain/buy a car over the years?

    How much would you pay in bik for a company car vs what you get now?


  • #3
    Superfoods
    Closed Accounts Posts: 311 ✭✭Superfoods


    daheff wrote: »
    How much would you pay in bik for a company car vs what you get now?

    That's a question I never managed to work out. I was trying to do some calculations but never seen exactly what it was

    I was going to go to financial person and see what they think in regards to that


  • #4
    mickdw
    Registered Users, Registered Users 2 Posts: 23,985 ✭✭✭✭mickdw


    It should be reasonably straight forward to do the maths on a company car versus buying the same car private.
    Company car scheme would never suit me as I'd like to drive something of my own choice. The benefit of buying your own is that you can buy new, used or really cheap if you so wish so that is a major factor in decision.


  • #5
    [Deleted User]
    Posts: 7,863 ✭✭✭ [Deleted User]


    Do you need a car?
    A van has no BIK.
    Win win


  • #6
    ted1
    Registered Users, Registered Users 2 Posts: 23,978 ✭✭✭✭ted1


    Do you need a car? I drive a caddy van for years to avoid BIK saver a fortune. It was only me and the misses then.


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  • #7
    Superfoods
    Closed Accounts Posts: 311 ✭✭Superfoods


    ted1 wrote: »
    Do you need a car? I drive a caddy van for years to avoid BIK saver a fortune. It was only me and the misses then.

    From a work point of view I could not show up at meetings in a van. Not trying to be snobby or anything but work would not accept


  • #8
    Superfoods
    Closed Accounts Posts: 311 ✭✭Superfoods


    ted1 wrote: »
    Do you need a car? I drive a caddy van for years to avoid BIK saver a fortune. It was only me and the misses then.

    What classify as a van or not?

    Wasn't some vehicle a crew cab or something?


  • #9
    Squidgy Black
    Registered Users, Registered Users 2 Posts: 21,828 ✭✭✭✭Squidgy Black


    Superfoods wrote: »
    What classify as a van or not?

    Wasn't some vehicle a crew cab or something?

    A van is a mechanical vehicle which:

    Is made solely/mainly for the transport of goods or other burden, and
    Has a roofed area to the rear of the driver’s seat, and
    Has no side windows or seating fitted in that roofed area.

    You could get away with something like a Golf van, but most crew cabs have been ruled out of the no BIK rule since last year I believe.


  • #10
    Eric Cartman
    Registered Users, Registered Users 2 Posts: 26,242 ✭✭✭✭Eric Cartman


    Superfoods wrote: »
    What classify as a van or not?

    Wasn't some vehicle a crew cab or something?

    crewcab vehicles are liable for BIK.


  • #11
    Theanswers
    Registered Users, Registered Users 2 Posts: 709 ✭✭✭Theanswers


    A commercial 4x4 would be perfect.


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  • #12
    Effects
    Registered Users, Registered Users 2 Posts: 9,741 ✭✭✭Effects


    Theanswers wrote: »
    A commercial 4x4 would be perfect.

    Not if someone doesn't want to drive a 4x4/Jeep.


  • #13
    Superfoods
    Closed Accounts Posts: 311 ✭✭Superfoods


    Effects wrote: »
    Not if someone doesn't want to drive a 4x4/Jeep.

    Wouldn't suit...

    Back to try and work out the increase in car ownership


  • #14
    Theanswers
    Registered Users, Registered Users 2 Posts: 709 ✭✭✭Theanswers


    Superfoods wrote: »
    Wouldn't suit...

    Back to try and work out the increase in car ownership

    Maybe an Estate Commercial. You would need to convert it yourself.

    Or a smaller Car Van Conversion.

    Else, if none of that works your back to BIK.


  • #15
    Superfoods
    Closed Accounts Posts: 311 ✭✭Superfoods


    So back to original question. How to work out what the cost of the car has increased

    Found on AA roadwatch they have ran a report, I guess since 2013 as that is the only link they have.

    So for 16,000km in a Band A car in 2018 cost €10,227.

    In 2013 in a Band A car it would have cost you €9,466.

    https://www.theaa.ie/aa/motoring-advice/cost-of-motoring.aspx


  • #16
    Alkers
    Registered Users, Registered Users 2, Paid Member Posts: 6,906 ✭✭✭Alkers


    How many miles do you do per year and how many of these are work miles?
    How often would you get a new car if you got a company vehicle? Bik is calculated on the cost of the car new, not its current value so unless you have a very new car it's madness.
    What mileage rates does your company pay? If you buy a car that's cheap to run, it's possible to turn a profit on using your own car with the revenue milage rates.


  • #17
    route66
    Registered Users, Registered Users 2 Posts: 1,012 ✭✭✭route66


    Would an EV suit?

    No BIK on Electric cars


  • #18
    Superfoods
    Closed Accounts Posts: 311 ✭✭Superfoods


    route66 wrote: »
    Would an EV suit?

    No BIK on Electric cars

    Choice is limited for BEV


  • #19
    grogi
    Registered Users, Registered Users 2 Posts: 7,890 ✭✭✭grogi


    Superfoods wrote: »
    Looking for some advice or guidance. I have an option of company car or I get additional added into wages. I have always just got with additional into wages and then get a small sum per km.

    I have never really thought about it but this has never actually increased since circa 2006.

    If I have a look at the cost to buy a new car today the cost has increased a good bit if I compare to a few years ago. I am just wondering is their anyway I could provide the increase in the cost to own/maintain/buy a car over the years?

    Get an EV - they are BIK exempt.


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