Cash for Car in salary

F

fuzz

Guest
Hi all

I Have a company car that i have to get rid of this year as company are phasing them out due to bik etc.
Question is how much should i be compensated in gross salary
Is there a standard figure use in this calculation ?
At present i get all expenses paid
All petrol, private and work
All tax
All insurance
All repairs
Replacement car in similar model would be 28,000 - 30,000
Any suggestion appreciated

Many thanks
 
fuzz said:
how much should i be compensated in gross salary
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I suppose it depends on how good you are at your job. There's no hard and fast rule but I presume the management will take steps to cushion the blow as they would not want good employees to leave the company.
 
My last employer were paying about €11k-€15k per annum gross salary (depending on grade of employee) as a car allowance. They paid a small allowance to cover the cost of fuel for further travel on company business. Note that your car allowance is generally not considered part of your salary when calculating pension or holiday pay.
 
I have the choice of a company car to the value of 35K or 10K additional salary.
 
wirelessdude said:
which did you choose?
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The additional salary.

The cost of the use of the company car to me would be approx €400 a month. If I leave the car has to be handed back and I have to buy a car.

The additional salary means I have additional take-home pay of €450ish. The running cost of my own car is approx €300 a month to run including depn..so I'm €150 better off and I also own the car.
 
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