Anyone know about business car lease

[Phil-1]

Just been told that my job is changing and I will be moving from a company van to a car allowance of £400 a month.
Knowing nothing about lease or PCP what are the Pros & Cons of having a car allowance?

What do I need to know and ask?


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[Marky79]

Limited mileage is the #1 thing to watch if you’re doing big miles. The excess per mile adds up.

 

[Evil Derboy]

You get taxed on it just like wages and you have more control over your car choices. You’ll also benefit from higher mileage reclaim rates than on a company car scheme.

As above be wary of lease or PCP deals where the annual mileage is too low to cover you. Remember that your 400 quid is for tax, mot, insurance, tyres and maintenance. Not just your car payment.

 

[Phil-1]

Been told that the company will cover repairs, tyres, servicing and insurance. I only have to find a car in budget.

Have a meeting in the new year so will check everything first before committing to it


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