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looking for someone to take over my S4 saloon lease at £404 per month inc vat

mojo555 Apr 14, 2019

  1. mojo555

    mojo555 Registered User

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    as above, car is on a 24 month lease and I got it 1st September 2018 so there is about 16 months left, Im pretty sure it needs to be in a business name to take over, I have done it as a sole trader and it just comes out of buy personal account so doesn't effect the business accounts at all. the car is on 10k per year and has covered just 3800 miles so far so there is loads left!
    Anyone interested drop me a message..
     
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  3. Philio

    Philio Registered User

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    Out of curiosity, what is the BIK on the S4?

    Sent from my Pixel 3 using Tapatalk
     
  4. mojo555

    mojo555 Registered User

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    I have no idea what it is, will see if I can find out..
     
  5. Philio

    Philio Registered User

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    Benefit in kind, it's the percentage of the value of the car you end up paying tax on.

    Sent from my Pixel 3 using Tapatalk
     
  6. Daggerit

    Daggerit Registered User

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    I think he just meant that he didn't know the value off the top of his head and was going to find out, rather than not knowing what BIK actually was. Lol.
     
    mojo555 and X3man like this.
  7. Philio

    Philio Registered User

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    Haha could be. I figured taking it out on a business lease it would be a known quantity, given it's no doubt pretty high.

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    tickedon and Daggerit like this.
  8. Daggerit

    Daggerit Registered User

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    True. But then I'd really hope he knew what BIK was! Lol. Seems like it would be a pretty expensive business proposition though.
     
  9. ash13

    ash13 Registered User

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    according to a price list i have from last year 35% for the saloon, 36% for the avant.
     
  10. RB84

    RB84 Registered User

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    I could be wrong but the only reason this is a 'business lease' is because VWFS want a company to support the risk inherent in switching leasers during the contract. My understanding is that this is a personal lease that now must become a business lease due to VWFS policy
     
  11. mojo555

    mojo555 Registered User

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    I don’t know what the BIK amount is because it is a personal lease and now has to be taken as business, i have taken business leases before and not put through the business and just paid via my personal account so it doesn’t touch the business
     
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  13. Philio

    Philio Registered User

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    Sadly, it doesn't work like that. If the lease is in the business name you still have to declare it on your P11d and pay tax.

    Sent from my Pixel 3 using Tapatalk
     
    mojo555 likes this.
  14. Desmond Hanson

    Desmond Hanson Registered User

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    Sent you a PM ? Haven’t heard back yet.


    Sent from my iPhone using Tapatalk
     
  15. Goner

    Goner Guest

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    Unless £404 is an absolute cracking deal on an S4 I cannot see anyone wanting to take over the lease, it’s a second hand car.

    If you were in the market for a S4 and the lease on a new one was around £400 you’d just get a new one.
     
    tickedon and Bristle Hound like this.
  16. motty225

    motty225 Registered User

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    Put it this way, I'm paying 280 a month and that includes daytona paint, extended interior lighting and VC
     
    tickedon likes this.
  17. RB84

    RB84 Registered User

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    No doubt, but not at a 3+23 deal or that'd make it £7.3k for 24 months and ~20k miles. This, like mine, was a 3+23 deal and therefore the monthlies are higher due to less upfront. The killer here is the stipulation from VWFS for it to go to a limited company and therefore the BIK impact. Outside of that it's a 'good deal'
     
  18. RB84

    RB84 Registered User

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    Plus you can't get the S4 new right now, and when you can it'll no doubt come with a Diesel engine. So someone, somewhere, might want to dabble in this. But the BIK is a PITA
     
  19. cptjay

    cptjay Registered User

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    There are ways around BIK :thumbs up:
     

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