- Mon Nov 13, 2006 10:47 am
OK I can only talk for where I am, my situation & previous companies.
OK you will be given a band, choice list or an allowance for lease cost you will then agree on the car you take either with the company or directly with the lease company/garage depending on the set up of the agreement. That is the end of your involvement, your employers sign the lease accept the liabilty etc & you get a shiney new car delivered & pay tax on it. Be careful some companies take a while to sort the Tax, so you may need to keep to one side.
Most companies also offer the option to opt out of the comapny car scheme. If you choose this ioption they will pay you a set amount per month in your salary which is liable to PAYE & NI, you will then be expected to supply your own vechicle with tax & business insurance, how you choose to do this is your choice you can buy or lease.
IMO unless you have a small car with loads of no claims you are likely to save money with a company car especially if you are going to be doing a lot of business miles.