Value of a Company Car

[boots]

I'm thinking of changing jobs and need to put a value on my company car.
Its a 04 Seat Toledo, new purchase price approx 23k.
Should I work on the basis of the cost to me if I had bought that car myself, say with a bank loan, which would cost approx € 500 per month.
Or is there another method by which I should be doing my sums?

I know that I will also need to factor in insurance, tax, fuel, services etc.
At the moment I figure that I would need to add 8 to 10k to my 'package' if I was to change jobs, and not be provided with a compnay car.

Thanks for any suggestions
Boots

 

[RainyDay]

Looks like you're on the right track, but don't forget to take the tax/BIK impacts into account. Are you hit for BIK in your current role? You will get hit for tax on any car allowance you get in your new role.

 

[boots]

Thanks for that Rainyday,

At the moment I am being deducted BIK, which I had allowed as a 'credit'
on this calculation.
I didn't realise that I would also be liable for tax on a car allowance...

 

[dam099]

Thanks for that Rainyday,

At the moment I am being deducted BIK, which I had allowed as a 'credit'
on this calculation.
I didn't realise that I would also be liable for tax on a car allowance...

On a fixed sum car allowance not related to business mileage yes you would. You can be reimbursed civil service mileage rates for actual business mileage incurred in a personal car tax free.

 

[dimo]

I'm thinking of changing jobs and need to put a value on my company car.
Its a 04 Seat Toledo, new purchase price approx 23k.
Should I work on the basis of the cost to me if I had bought that car myself, say with a bank loan, which would cost approx € 500 per month.
Or is there another method by which I should be doing my sums?

I know that I will also need to factor in insurance, tax, fuel, services etc.
At the moment I figure that I would need to add 8 to 10k to my 'package' if I was to change jobs, and not be provided with a compnay car.

Thanks for any suggestions
Boots

i'd have a long think about this one if I were you, I've found that the bik on my car was killing me and like you , come my next role I'll be weighing up whether the company car is worth having... overally the only real benefit I saw was the maintenance\service on a fleet car,, otherwise I found it's a rip!