Leasing a performance hybrid car

[washed up contractor]

Hello, I wonder if anyone can provide some guidance.

I have been running my company for little under a year, I want to get a company car but not sure if I would be better off leasing it personally or through the company.

Now, as far as I understand it, if you want to get a fairly high powered car, it works out better to lease it personally, and claim milage back through the company.

But, the twist to this tale is I am looking at a performance hybrid - specifically the Volvo XC60 T8, which I believe has a lower BIK, which is the single biggest reason against getting a company car with a larger engine

I could be talking rubbish though, hence my question - can anyone advise what the best thing to do here would be?

The generally accepted advice is buy, lease or PCP a new car as a private individual. If you buy or lease as a company car you'll end up paying Employer's and Employees NI on it so you will be paying twice.

There may be an advantage with a zero emission car ie totally electric but even then, a BIK was introduced last year whereas it had previously been zero.

[northernladyuk]

Mine's only broken down twice! Clutch position sensor and then engine RPM sensor. Both times in first fortnight of ownership. Fingers crossed ok since...

The Ferrari F430 engine in it is largely bulletproof, and F1 gearbox too (also Ferrari), only gripe is clutch wear. Other than that the QPV is pretty reliable. That paddle-shift F1 box is great tho, a smile-generator if ever there was one.

You've only had it three weeks.

[Alan @ BroomeAffinity]

I’ve never heard of a Volvo being called a performance car before.

[stek]

Maserati's break down so often they're good for the environment.

Mine's only broken down twice! Clutch position sensor and then engine RPM sensor. Both times in first fortnight of ownership. Fingers crossed ok since...

The Ferrari F430 engine in it is largely bulletproof, and F1 gearbox too (also Ferrari), only gripe is clutch wear. Other than that the QPV is pretty reliable. That paddle-shift F1 box is great tho, a smile-generator if ever there was one.

[Lance]

Pollution
All around
Sometimes up
Sometimes down
But always around
We're on different buses, pollution
But we're both using petrol
Bombs....

Get a Maserati, stuff the environment, forget BIK...

Maserati's break down so often they're good for the environment.

[saptastic]

Hello, I wonder if anyone can provide some guidance.

I have been running my company for little under a year, I want to get a company car but not sure if I would be better off leasing it personally or through the company.

Now, as far as I understand it, if you want to get a fairly high powered car, it works out better to lease it personally, and claim milage back through the company.

But, the twist to this tale is I am looking at a performance hybrid - specifically the Volvo XC60 T8, which I believe has a lower BIK, which is the single biggest reason against getting a company car with a larger engine

I could be talking rubbish though, hence my question - can anyone advise what the best thing to do here would be?

Have a look at the BMW 330E

[Mag]

Pollution
All around
Sometimes up
Sometimes down
But always around
We're on different buses, pollution
But we're both using petrol
Bombs....

Get a Maserati, stuff the environment, forget BIK...

Amen sister

[stek]

Pollution
All around
Sometimes up
Sometimes down
But always around
We're on different buses, pollution
But we're both using petrol
Bombs....

Get a Maserati, stuff the environment, forget BIK...

[Darren at Fox-Bartfield]

Company Cars

Hello, I wonder if anyone can provide some guidance.

I have been running my company for little under a year, I want to get a company car but not sure if I would be better off leasing it personally or through the company.

Now, as far as I understand it, if you want to get a fairly high powered car, it works out better to lease it personally, and claim milage back through the company.

But, the twist to this tale is I am looking at a performance hybrid - specifically the Volvo XC60 T8, which I believe has a lower BIK, which is the single biggest reason against getting a company car with a larger engine

I could be talking rubbish though, hence my question - can anyone advise what the best thing to do here would be?

You may find the link here useful, HMRC's car BIK calculator so you can make comparisons with other vehicles.

[Lance]

what's more important to you?

a) money
b) tax
c) flashy car

[northernladuk]

can anyone advise what the best thing to do here would be?

Your accountant?

[Dazza666]

Hello, I wonder if anyone can provide some guidance.

I have been running my company for little under a year, I want to get a company car but not sure if I would be better off leasing it personally or through the company.

Now, as far as I understand it, if you want to get a fairly high powered car, it works out better to lease it personally, and claim milage back through the company.

But, the twist to this tale is I am looking at a performance hybrid - specifically the Volvo XC60 T8, which I believe has a lower BIK, which is the single biggest reason against getting a company car with a larger engine

I could be talking rubbish though, hence my question - can anyone advise what the best thing to do here would be?