Leasing a car

[WTFH]

If you are a multi-car family, I would suggest buying one outright and doing the other one on a lease/pcp/whatever. That way, if the warchest runs dry, etc etc and you have to hand a car back, then your family still has one car owned outright. If everything is on a repayment and you can't pay any more, then no car.

[diseasex]

Thats what my accountant said when asked if it's possible to avoid BIK on leased car on company name:

Hi Tomasz,

You could put it in the company name and put all the costs associated as drawings. What we would then need is a legitimate and logged mileage claim to clear the overall cost.

Example

Cost in the year £250*12 =£3000

Miles needed to clear the cost £3000/.45 = 6,666.66 miles in the year.

If there was a shortfall in miles done for the year then this would be a drawing to you in dividends.

All petrol and running costs would be drawings also as you cannot claim petrol and running costs against a personal car, only mileage.

Hope this helps

Kind regards

I find it hard to understand.

[CoolCat]

Leasing works best if it's not your money ...

In all other cases it's a totally tulipy idea.

As I say it depends. At the moment for instance focus ST is very cheap on lease and probably a lot cheaper than buying

[AtW]

At the moment for instance focus ST is very cheap on lease and probably a lot cheaper than buying

Oi admin, please rename the site to ElCheapoBoyRacers.com

Contractors talking of leasing Focus ST... FFS!

[CoolCat]

I didn't say I would get one lol

[AtW]

1. If you don't have full cash to buy car then it means you can't afford it.

2. You should have at least as much cash left after buying the car, otherwise you can't afford it.

3. If you have to ask internet forum about whether you can afford the car then you can't afford it.

Simples.

[RetSet]

i know. Any idea how to snatch this business deal and not pay BIK ?

If we are fighting on math lets compare :
3 years old BMW 5 bought for 17000 on loan 15k and 2k own cash (note that bmw 3 GT cost about 22k)
approx 1700 interest on credit @ 5years
2 year resale value @ 10000 miles per year - 12k
loss over 2 years: £6700

total cost of leasing (based on your figures: 5304...

and on leasing I can have new car, with color i want and get new one after 2 years again. I think this is first case I see where numbers vote for leasing

That's your mistake right there.

Buy the car at 7 years/ 70k miles, run it for another 130k miles (200k miles on the clock) get £500 for it at the end. Depreciation 9p/mile.

[TykeMerc]

That's your mistake right there.

Buy the car at 7 years/ 70k miles, run it for another 130k miles (200k miles on the clock) get £500 for it at the end. Depreciation 9p/mile.

The drawback with that piece of common sense is that the badge and image obsessed moron wobbling on about a car as a "pussy magnet" or some similar mince is in actual fact just a moron, admittedly an illiterate moron. Anything less than the most pointlessly shiny new toy won't be acceptable.

[AtW]

The most annoying thing is that if vast majority of people could hold their nerv and refuse to pay ever increasing prices for housing then the house prices would not be so crazy priced.

Can't more people just learn how to say NO, STUFF THAT PRICE UP YOUR BOTTOM???



If they could then houses would be half price.

[FatLazyContractor]

The most annoying thing is that if vast majority of people could hold their nerv and refuse to pay ever increasing prices for housing then the house prices would not be so crazy priced.

Can't more people just learn how to say NO, STUFF THAT PRICE UP YOUR BOTTOM???



If they could then houses would be half price.

I have a good and relevant option for someone like you. Motorhome