what's best way to finance a car?

[dude69]

18k is a lot to spend on a used car if you dont pay 40% tax

the only car worth puttingf through company is one under 120g CO2 as it's a 100% capex writedown and tiny BIK

[poopscoop]

it all seems complicated !

OK step 1. I have applied for a virgin card yesterday and been given a £15K limit

so i guess what i need to do now is get hat money into my bank account and then buy they car.

i am still keen on exploring idea of buying car via the company. any idea as to its effect/advantages.....?

css_jay99

Virgin cards are usually MBNA cards. They allow you to transfer cash to bank accounts. They charge around 3% fee. Max fee is £50 if its a Virgin Atlantic card

[THEPUMA]

Show me some CC that have 0% transfer fee?

All the ones I have ever seen now have 2.5% - 3.5% handling charge on 0% transfers.

Link please?

http://www.stoozing.com/0fees.htm

[s2budd]

Cash.
Failing that. Spend as little as possible.
Don't forget, your buying something that depreciates faster than a packet of butter on a hot day. Only spend real wonga on things that increase in value.

[Hiram King Of Tyre]

Out of interest, which cars are less than 120g?

[dude69]

Out of interest, which cars are less than 120g?

http://www.honestjohn.co.uk/faq/faq.htm?id=81

[DiscoStu]

Sorry to hijack

My car is less than 120g/km. When I finally get round to setting up a Ltd, would it be beneficial to me to sell the car to the company?

[Hiram King Of Tyre]

http://www.honestjohn.co.uk/faq/faq.htm?id=81

Thanks Dud. A better choice than I expected. Is it worth having one or better to claim the 40/25p?

[r0bly0ns]

Sorry to hijack

My car is less than 120g/km. When I finally get round to setting up a Ltd, would it be beneficial to me to sell the car to the company?

I asked the same question of our accountant about a year ago. At the time he said that he would not advise to run a company car because of the increased national insurance implications.

In his opinion (at that time), you are always better off using a personally owned car and claiming mileage.

[Hiram King Of Tyre]

What kind of justification do you need to get a van (pickup truck)?