Car allowance advice

michelangelo

Subs Bench
Alright, anyone on here a sales rep or owt?

Got offered a new job & comes with a decent allowance. They say you have to have a car under 4yr old - great but I only bought a car (thats 5 yr old) in
the summer. Got 10k finance outstanding on it.

Bit of a first world problem obviously but anyone on here got experience of that? Should I sell my car, get a newer one but then have big finance on it that the car allowance should more or less cover? Or is there a cleverer way?

Sorry if daft questions just my first experience of owt like this.
 


Alright, anyone on here a sales rep or owt?

Got offered a new job & comes with a decent allowance. They say you have to have a car under 4yr old - great but I only bought a car (thats 5 yr old) in
the summer. Got 10k finance outstanding on it.

Bit of a first world problem obviously but anyone on here got experience of that? Should I sell my car, get a newer one but then have big finance on it that the car allowance should more or less cover? Or is there a cleverer way?

Sorry if daft questions just my first experience of owt like this.

Stick a private reg on it and claim your allowance.
 
If the car is decent unlikely to be a big deal - worst case scenario get a personalised plate assuming it’s in decent condition

personally I just would t mention it. That clause is usually put in by companies who’ve moved from company cars to allowance and they don’t want them to buy 15 year old polos
 
Aye the HR lass said it'll get checked when I go to head office. Cannot really see a way past selling mine off & getting a new one. Prob lose a bit on it but obv allowance means no car outgoings after.
What's this stuff about personalised plates?
 
Aye the HR lass said it'll get checked when I go to head office. Cannot really see a way past selling mine off & getting a new one. Prob lose a bit on it but obv allowance means no car outgoings after.
What's this stuff about personalised plates?

Would you not get taxed on the allowance? Is there not a cash alternative?

Think they mean stick a personal plate on and pretend it is newer than it is.
 
Would you not get taxed on the allowance? Is there not a cash alternative?

Think they mean stick a personal plate on and pretend it is newer than it is.

Got you. All I know is that I get paid X & then HR said "you get a car allowance of Y/month & we need you to be driving a car less than 4yr old". So I thought get in then 2 secs later thought ah balls I just bought a 5yr old one haha.
 
Well apart from the potential tax differences and the possibility of being done/sacked for fraud...aye, same difference
I do t think there is a tax difference?

Well there’s nothing fraudulent about being honest and saying you’ve got outstanding finance on a car you purchased 10 months ago.
 
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