Gen 7 For Sale

[davekilshaw]

Hi all,

Just to let you know that my Celica is up for sale, it is in the for sale part of the website.

Any questions dont hesitate to ask.....

[GT4 BOOSTER]

so soon - wow

[davekilshaw]

just got new company car delivered, lexus IS250 so cant keep it on the drive by order of the missus........

[Tarby777]

just got new company car delivered, lexus IS250 so cant keep it on the drive by order of the missus........

Dave, out of interest... did you run all the numbers for the pros and cons of company cars? the CO2 on that thing is 231, which means you're going to get murdered for tax. Until last year, I had a Honda CR-V (CO2=229) and I worked out that my take-home pay was down by £9200 per year because of it! Roughly half of that was the increased tax that I paid for having the car and having my petrol paid, and the other half came from the cash alternative that I wasn't getting because of having the car (if you see what I mean).

When renewal time came around, I got an ST and with nearly a year gone, I'm on course to be over £6k up for the year on what I would have had if I've had the CR-V for another year. Not gloating... just wondering whether you're paid so much that it's all a drop in the ocean for you!

Cheers,

Tarby

[Special Red]

Tarby - Where in Rockport are you from?? Do you have any pics of your car?

[Tarby777]

Tarby - Where in Rockport are you from?? Do you have any pics of your car?

Is that what mancs calls Stockport - Rockport? Is that 'cos we're over-run with chavs? Cheeky beggar!

I'm in Romiley, where I appear to be the sole Celica owner! I *do* have some pics somewhere... I'll see if I can root 'em out.

Cheers,

Tarby

[Asterix187]

I worked out that my take-home pay was down by £9200 per year because of it!

???

take home down by £9200?? um i have had many company cars including a merc CLK 270 CDI, Lexus IS200, Volvo S60 T5 and including personal fuel tax none on them came to more than £2500 a year net cost.

[Tarby777]

I worked out that my take-home pay was down by £9200 per year because of it!

???

take home down by £9200?? um i have had many company cars including a merc CLK 270 CDI, Lexus IS200, Volvo S60 T5 and including personal fuel tax none on them came to more than £2500 a year net cost.

Well, my payslips don't lie :) Did you have them when tax was based on mileage, or on CO2?

My CR-V had a CO2 rating of 229, which results in a multiplier for tax calculations of something like 32%. That means that every year, I paid 40% tax (I'm a higher rate tax payer) on 32% of the list price of the car, and the fuel tax calculation meant that I also paid 40% tax on 32% of £14400. The CR-V was loaded (top of the range model + fridge, hydraulic bike lift, shower... all sorts of rubbish) and cost £23k.

£23000 * 32% * 40% = £2944.

£14400 * 32% * 40% = £1843.

So, every year I paid £4787 in tax for having the car and having my petrol paid. If I hadn't had the car, I would have qualified for an annual cash alternative of £7200, which comes down to £4320 after 40% tax is taken off. 4787+4320=9107. So... the difference between having the car and not having it was £9100. When I tot up the running costs for the Celica, I'm thinking in terms of how much I have left from £9100, which is the amount my take-home pay has gone up by since the CR-V went back.

Cheers,

Tarby

[davekilshaw]

Another pic.....

[MIP]

So, every year I paid £4787 in tax for having the car and having my petrol paid. If I hadn't had the car, I would have qualified for an annual cash alternative of £7200, which comes down to £4320 after 40% tax is taken off. 4787+4320=9107. So... the difference between having the car and not having it was £9100. When I tot up the running costs for the Celica, I'm thinking in terms of how much I have left from £9100, which is the amount my take-home pay has gone up by since the CR-V went back.

Cheers,

Tarby

I'm so confused.

So you would have paid £4787 in tax for having the company car, and a car n your petrol paid.

Or

You would have paid £4320 in tax, and had £2280 cash to cover the running costs and depreciation or lease of a car.

So the difference in tax is £467 more tax is paid if you have the company car (however if more than £2280+£467 is spent in depreciation/running/leasing your own car privatly, you've lost out finacially having the private car). I don't know why your adding the two four grand figures together?? Your not paying both those figures in tax, your paying one or the other depending on your choice of company car or private.

[Spuffington]

Think it comes down to Opportunity Cost.....!

[Tarby777]

I'm so confused.

So you would have paid £4787 in tax for having the company car, and a car n your petrol paid.

Or

You would have paid £4320 in tax, and had £2280 cash to cover the running costs and depreciation or lease of a car.

So the difference in tax is £467 more tax is paid if you have the company car (however if more than £2280+£467 is spent in depreciation/running/leasing your own car privatly, you've lost out finacially having the private car). I don't know why your adding the two four grand figures together?? Your not paying both those figures in tax, your paying one or the other depending on your choice of company car or private.

Yikes, you've even confused me now! I'll try again:

option 1: no company car, so receiving a car allowance of £7200 gross, £4320 nett instead.

take-home pay = x + 4320, where x = my basic salary.

option 2: company car, fuel paid for, paying £4787 extra in tax and not getting the car allowance.

take-home pay = x - 4787.

The take-home pay in option 1 is £9107 higher than in option 2. That's the basis of my argument; if I have the company car, my take-home pay is down by £9107 over the course of a year, not just because of the extra tax but also because of the car allowance I'm no longer receiving.

So I'm not saying that I can run my own car and still be 9k up. I'm not saying I paid 9k in tax every year on the company car. I *am* saying that not having the company car means I've got 9k per year more in the bank, out of which I can pay for petrol + whatever else the Celica requires.

Phew! Clear now?

Cheers,

Tarby

[sotal]

Is the £7200 car allowance something your employer set or is it a set rate by the goverment??

[Tarby777]

Is the £7200 car allowance something your employer set or is it a set rate by the goverment??

It's a company thing. With my employer, there are nine pay grades and those grades that qualify for a car have an allowance. It's different for each grade.

[Spuffington]

Aye, works the same at mine. I get £7.5k minus tax on my side. Far more attractive than the company car.

[Special Red]

Tarby - Where in Rockport are you from?? Do you have any pics of your car?

Is that what mancs calls Stockport - Rockport? Is that 'cos we're over-run with chavs? Cheeky beggar!

I'm in Romiley, where I appear to be the sole Celica owner! I *do* have some pics somewhere... I'll see if I can root 'em out.

Cheers,

Tarby

I live in Reddish mate so I'm one of you now! Yep the Rockport comment reffered to the amount of chavs or scallys as we like to call them up North. I remember going to Coco's in Grand Central, Im trying to forget!Whats that pub called that does a good sunday roast in Romiley called?

[Tarby777]

Whats that pub called that does a good sunday roast in Romiley called?

Well, I haven't sampled them all yet, but I plan to :)

Of the ones I know, I'd say the Hare&Hounds on top of Werneth Low is worth a shout, also the Foresters Arms (known to one and all as "the piggy") at the top of Sandy Lane. I tried the Stock Dove on the main road, and it was OK without being anything special. The Cow&Calf at the top of Barrack Hill is supposed to be good for food...

Cheers,

Tarby