Leasing a vehicle

[Leicester Ben]

Do any of you guys lease a vehicle through your company, if so how did you find it.

Did the advantages outweigh the disadvantages?

I am torn between leasing a new car through the business or buying a couple of year old version with a loan / HP.

Thanks

(ps, I have tried the accountant but he is busy this week for some reason :) )

[Spirits High]

I had my A4 on business lease. Got it direct from Audi main dealer at the time when the new shape was coming in so got an "old" shape 08 plate on a good deal as they were trying to clear them out.

The good thing for you is that you're VAT registered so unlike me you won't be losing out on 20%.

Do watch the mileage allowance though. Mine was 20k over the 2yr period . When it went back it had just passed 30k so I ended up with a bill for the excess mileage. Be very careful with the excess miles cost mine was only 6p per mile but some leasing companies can be around the 25-40p mark :eek:

Also when it goes back it has to come within their "Wear & tear" standards but nothing a day with "Chips away" won't solve.

If you do want to go down the leasing route give me a bell as I know the bloke that runs a company in Derby and he won't "do you over" ;)

and Yes he can get you a Q7 :D

[Leicester Ben]

Thanks Paul, I may well take you up on that.

I've been looking at the mileage and I only do about 10,000 miles a year anyway so not too bad (unit and back isnt far).

Claiming the VAT back is a big reason for me wanting to do it, our costs are pretty low so the more VAT I can pay the better :)

Oh and it might not be a Q7 anymore :eek:

[soundtracker]

Thanks Paul, I may well take you up on that.

I've been looking at the mileage and I only do about 10,000 miles a year anyway so not too bad (unit and back isnt far).

Claiming the VAT back is a big reason for me wanting to do it, our costs are pretty low so the more VAT I can pay the better :)

Oh and it might not be a Q7 anymore :eek:

I have an idea in the back of my mind somewhere Ben, that you actually get some extra tax breaks by leasing if you are a limited company. This may be slightly out of date, but is worth raising with your accountant when you can get hold of him!

[Leicester Ben]

I have an idea in the back of my mind somewhere Ben, that you actually get some extra tax breaks by leasing if you are a limited company. This may be slightly out of date, but is worth raising with your accountant when you can get hold of him!

That would be nice if it was true, fingers crossed :)

[soundtracker]

That would be nice if it was true, fingers crossed :)

it certainly used to be, but I've been away from finance a few years, and everything constantly changes...good luck!