Company car - anything I need to watch out for?

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kelbell

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Any downsides to taking a company car? I've been offered a job that requires transport but they're saying they don't offer car allowances although I know they do for some staff...

I already own my own car (which has a higher spec than whats being offered and is very comfortable to drive), so I'm really not too bothered on having another one (no extra parking spaces where I live )...so what are the advantages/disadvantages of having it?
I haven't decided whether or not to accept, I'm just trying to weigh up the total package and see if its worth my while changing..
 
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Drive a company van

A lot to be said for not paying for fuel servicing breakdown tax insurance.

As long as you reasonably look after it, if it breaks not your problem.

Fuel is a major drain / pain so just for that maybe worth it.
 
How long must you keep it for ?

As has been pointed out BIK is a big issue. All the bigger when you're deemed to be receiving the same BIK a few years from now, on a by-then much older car !
 
I'm not sure how long I'd have to keep it. I'll ask them.
Do people generally get rid of their own cars with a company car? What happens to your no claims insurance etc...?
My private car is our family car, as my partners vehicle is just a van...outside my house could end up looking like a rented gaff and we only have 2 parking spaces.
 
Check out all the perks with it - sometimes there are car allowances / fuel-cards which can be a significant factor.

Unfortunately I've never been in that situation of having to choose - but I do know some who are driving 2007-reg cars; and still being taxed as if they were brand-new - hope they're getting some kind of fuel-card !
 
Your no claims bonus will last 2 years.

If your partner has a car potentially insure on alternate years to keep NCB alive.
 
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