Company Car or private purchase.

[hawk20]

It would be interesting to know what proportion of Mercedes owners on the forum got their Mercedes as a company car, or part funded by mileage allowance or any kind of car allowance, or bought it on their business and could tax deduct it, and how many bought entirely at their own expense, whether with cash, hp, loans or whatever.

 

[240D 3.0VNTi]

This beast cost me $600, cash.

 

[Jensen]

Mine's private paid £7,500 3 years ago. W202 C250TD 1998

 

[bigasotonuk]

Hi,
My W202 C230K cost me £9,995 in the Autumn of 2002 with 24,500 miles FSH (paid cash).
My C43 AMG cost me £5,000 in August of this year with 117,000 miles FSH (paid cash).

 

[hawk20]

Mine are privately funded now. Wife and I both have an A class, partly because of low running costs and partly the relatively good depreciation. Before retiring I did pretty big miles each year and had a mileage allowance which covered a lot of the costs. Mainly ran E class then. I sure notice the difference now we pay it all.

 

[A210AMG]

Hello,

My ML350 was bought for cash approx 1 year ago, the Wifes A210 AMG we also bought cash around 18months ago.

Having bought new and lost a fortune second hand does seem to get you some great cars and lose far less. I also like the fact they are on the drive paid for rather than a balloon payment, final balance or stupid % apr.

cheers

 

[scousetechie]

Hmmmm, bit of both really, Got the car about 7 years ago and purchased it as a company car. Got a bit peed off with the income tax on it and bought it from the company for me. Better off now, plus the company is better off with the tax people also. Which is nice as I am a partner in the company so it's win-win

 

[hawk20]

Hello,

My ML350 was bought for cash approx 1 year ago, the Wifes A210 AMG we also bought cash around 18months ago.

Having bought new and lost a fortune second hand does seem to get you some great cars and lose far less. I also like the fact they are on the drive paid for rather than a balloon payment, final balance or stupid % apr.

cheers

A lot in that. Depreciation is becoming lunatic. E320cdi Avantgarde with good extras costs easily £40k list nowadays. One year old on a 56 plate Glass's Guide show its part ex value as £22 to 25k depending on condition. A real ouch. One of the reasons I went for the A class with a guaranteed residual. And just at the moment the APR is a modest 5.7%.

What's the history on the 210? Didn't know they did an AMG? Don't do it on current model AFAIK. Sounds quite a rare beast.

 

[mattsurf]

My E320 CDI is funded privately - I could have a C220 CDI estate as a company car, however, it would cost me about £10k per year in fuel and tax against owning my car privately, which costs £6.5k taking into account the running costs (including the average spend on repairs over the past 4 years), depreciation, income tax that I pay on my car allowance, and the residual car allowance in my pocket. Therefore I save £3.5k per year - which more than covers any exceptional bills.

An additional benefit is that I get a higher spec car - with the 3.2 engine and I get 7 seats. The only 7 seat cars that I could get under my company car scheme would be a Volvo V70 D5 estate or a Ford Galaxy / SMax as the E class not in my range.

Sometimes I do think that it would be nice to have a new car, however, when I look at it rationally it makes sense to opt out of the company car scheme

 

[television]

As a totally unemployable character I cant take part here

 

[David Nock]

As a totally unemployable character I cant take part here

'Cause you can, I'm retired so there's only the private purchase option. Unless you stole it, in which case cheat and put "other"

 

[jberks]

As a totally unemployable character I cant take part here

You're not the only one! I suspect most of us are unemployable unless we're allowed to be the boss.

Anyway, I looked at the possibility of mine being a company car but it makes little sense. OK 3 years of painful payments but as I tend to keep them longer, after that, no payments and no tax bills.(11 more to go..) Plus, buy a 12 month old one as discussed above, and whilst the car costs a very reasonable 26k, the taxman thinks it's cost you 40k and taxes accordingly. I can afford the 26k (just), I can't afford the 40k so why he thinks I can still afford the tax on it i don't know.

 

[David Nock]

'Cause you can, I'm retired so there's only the private purchase option. Unless you stole it, in which case cheat and put "other"

In fact that's not cheating - THAT MUST BE WHAT "OTHER" IS THERE FOR!

 

[hawk20]

In fact that's not cheating - THAT MUST BE WHAT "OTHER" IS THERE FOR!

Indeed. And for those whose prayer was answered (oh Lord won't you buy me a Mercedes-Benz). Others, more worldly perhaps, may pray to a sugar daddy, rich parents or whatever.

 

[Rory]

My E320 CDI is funded privately.....

Sometimes I do think that it would be nice to have a new car, however, when I look at it rationally it makes sense to opt out of the company car scheme

If you opted out of a company car scheme (as I did) then surely your car (as mine is) is funded by a mixture of car allowance and mileage payment?

 

[Tikon]

I'm awaiting delivery of mine. My company offered me cash allowance to purchase my own up to £24k or I could lease one with the company paying a maximum £600 per month. I chose to lease over three years all inclusive deal tyres, servicing etc. Insurance covered by company and road tax paid for etc.

It's the first car I've leased and not sure yet if its the right thing to do only time will tell. My annual milegae though is around 24,000 miles plus.

Gary

 

[Rory]

I'm awaiting delivery of mine. My company offered me cash allowance to purchase my own up to £24k or I could lease one with the company paying a maximum £600 per month. I chose to lease over three years all inclusive deal tyres, servicing etc. Insurance covered by company and road tax paid for etc.

It's the first car I've leased and not sure yet if its the right thing to do only time will tell. My annual milegae though is around 24,000 miles plus.

Gary

You can do cost comparisons at http://www.cashorcar.co.uk but it's amazing how the few variables involved can combine, especially your ratio of private to business miles, and whether the company would pay for private petrol, so that the answer is rarely black and white.

Many of our guys opted out and then did personal full maint leases - but they're quite expensive for higher mileages and they really might as well have taken company cars. I reckon the "peace of mind" benefit of having a company car is worth a good £100/mth.

 

[Apial]

Indeed. And for those whose prayer was answered (oh Lord won't you buy me a Mercedes-Benz). Others, more worldly perhaps, may pray to a sugar daddy, rich parents or whatever.

I was given mine as it was unwanted. I ticked "other". Then I got a bill for £1600 of repairs. :<(

 

[100%Bitch]

I was given mine as it was unwanted. I ticked "other". Then I got a bill for £1600 of repairs. :<(

"Oh Lord, don't forget the big bill for repairs"

 

[hbltd]

CLK 320 privately funded, although shame repair bills are not company funded.