I've got a new job... but it comes with a car

A

ab7

Active member
 Gloucestershire
Left my job just over a month ago (my choice) and I've finally just last week been offered a new job and now signed the contract.

I'm a very happy bunny, but the problem - ok wrong word, reason for this topic... is that it comes with a company car. Now that's great, I'm very happy, it'll be an A3 or a 1 series, having a paid for economical spacious car as an alternative is going to be excellent.

The question mark arrises over what to do about the zed. I've owned my zed for just 3 months and love it. Now obviously I'm not in a rush to go out and sell it (although at 14k miles I'm sure it won't be too difficult) but I'm starting to wonder what the plan is going to be. Owning two nice cars at 25 is probably most people's dreams, the concept of having a sports car just for weekends seems crazy for someone my age, and maybe extravagent.

So really I'm after some advice/opinions. I know some people on here have the zed simply as the weekend sports car - Does it work well?, do you still use the zed?, is it worth the cost if you have a free car?

Obviously the financial side is for me to decide but I don't need to sell it - so I'd appreciate any opinions on what you'd do :thumbsup:

My current thoughts are to look to sell the zed next spring with a view to helping to towards buying my first property but I think I may be too attached lol.
 
ab7 said:
My current thoughts are to look to sell the zed next spring with a view to helping to towards buying my first property but I think I may be too attached lol.
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Sounds like the best Idea :thumbsup:

the costs to keep a car on the road for weekend use only just to give yourself a feel good factor as oppose to taking the first steps on to the property ladder, I know what I would do, and did. :)

EDIT : Congrats on the new Job :thumbsup:
 
I have 2 cars, my zed is a garage queen and comes out maybe once a week. The Compact is the dog and gets used every other day to go to places I'd rather not park the zed in.

No problem using the zed once in a while, makes you appreciate it even more!
 
It's a straight choice - head or heart. Head says "sell the car, help fund your deposit". Heart says :driving:
 
I am facing similar dilemma, but so far have stuck with the zed. My job is in Edinburgh, and can't keep the car here. The car lives in Forfar, and is used for forum meets, and weekend fun (provided that I'm willing to do a 140 mile round trip to drive the zed).

I say keep the zed. If you sell you may regret. My situation is made slightly better as my house/flat deposit is safe regardless of what I do with the zed. I could sell the zed to add to my deposit if I need to, but don't think it'll come to that. I hope :|
 
Well done on the new job.

I'm afraid I don't do sensible so I'd say, sod everyone else, keep the car :-). 25 with a choice of two motors! The faster of which is going to cost you peanuts as you'll only get it out on Sundays!

When is this ever going to happen in your life ever again..? Not until you are 60 and retired....ok maybe exaggerating a little but you know what I mean :-)

:poke: :fuel fire:
 
Having the Z4 for weekend use is an indulgence given that you will have full use of a company car which you will be taxed on for private use. Do you fully own the Z4 or are you still paying for it? You need to factor in the depreciation on the Z4 and road fund tax and insurance and other running costs.
I think at 25 the sensible decision is to sell the Z4 and use the money as part payment on a property.
You will be able to afford both when your mortgage is paid off and you are a retired old fart like me. :wink:
 
get your property every thing else will come in time .my wife and myself have company cars .just about to order again bms i am sure of .our toy is a mzr 4000 miles a year magic agreat feeling :thumbsup: :driving:
 
Nosa said:
ab7 said:
My current thoughts are to look to sell the zed next spring with a view to helping to towards buying my first property but I think I may be too attached lol.
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Sounds like the best Idea :thumbsup:

the costs to keep a car on the road for weekend use only just to give yourself a feel good factor as oppose to taking the first steps on to the property ladder, I know what I would do, and did. :)

EDIT : Congrats on the new Job :thumbsup:
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+ to all of that.

An A3 or a 1-series is a fairly nice alternative to be running around in for a few years while you get your own property. Then, once that's sorted and things have settled down you can always look for another Z4 - perhaps an older one not worth as much, then you won't feel guilty about using it infrequently. Well, that's what I'd do anyway!
 
forget the audi , , all are over rated , over priced & tedious inside :o fine if you want style over substance
as for selling the Z for property , do it , ive sold 3 previous cars to fund property ventures & each time came back stronger .
,it may be a bitter pill but buy wisely & you will reap the reward 8)
.the current respite in prices won,t last forever :wink:
 
Here's an alternative view. How many miles are you likely to do in a year? If it's less than 20K, do they offer a car allowance as an alternative to a company car? I take an allowance as an alternative to a car for a number of reasons:

1) I can have what I want, when I want it
2) The car is never yours and you pay tax on it. Although I pay tax on my car allowance the car is mine and so
3) if I ever lose my job I'll still have a car

If you do stellar mileage, this is probably not the option for you as your car will depreciate faster with higher miles and you have to insure it and service it yourself. Also if you have to finance it, it might not be such a good idea. I bought a cheaper car to start with, saved my allowance and then bought a better car, rinse and repeat until I now have a nice daily car and my car allowance bought my zed too :thumbsup:

Either way, congratulations on the new job :thumbsup: I can remember my first job with a "free" car and how excited I was. Enjoy every minute!
 
My Z4 has been the third car for two years now, used to use previous Zed for work then bought an old banger to cart the bike and kids around in. The fuel saving from not using the zed paid for the running of the banger.

Now have a 1 series company car, and use the wife's at weekends (Don't even like taking the Company car to Tesco and the like) so Zed used on sunny days if I'm lucky and SORN during winter. As the kids get older I will have more time and it will be used more.

My advise though would be keep it for the short term and see how you get on, if you don't use it then sell, but if you sell now you will never know how much you would have used it.

Makes it more special as well when you do drive it 8)
 
Stuart Truman said:
Here's an alternative view. How many miles are you likely to do in a year? If it's less than 20K, do they offer a car allowance as an alternative to a company car? I take an allowance as an alternative to a car for a number of reasons:

1) I can have what I want, when I want it
2) The car is never yours and you pay tax on it. Although I pay tax on my car allowance the car is mine and so
3) if I ever lose my job I'll still have a car

If you do stellar mileage, this is probably not the option for you as your car will depreciate faster with higher miles and you have to insure it and service it yourself. Also if you have to finance it, it might not be such a good idea. I bought a cheaper car to start with, saved my allowance and then bought a better car, rinse and repeat until I now have a nice daily car and my car allowance bought my zed too :thumbsup:

Either way, congratulations on the new job :thumbsup: I can remember my first job with a "free" car and how excited I was. Enjoy every minute!
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What sort of allowance do people get, would have to be huge to get me away from my company car.
 
Like others have said. Don't sell straight away, keep it and see how it goes.

My Z is a third car in our house so I only use it when the weather is good or I just fancy a little fix. The cost is sufferable but if you are saving for a house you have to think that every penny put into things like VED and insurance, which I guess won't be pennies at 25 is money that's not going towards your future. You also have to factor in depreciation which won't affect cash/property.

Girls are generally more impressed by being taken back to your own house in any car than they are being taken back to mum and dad's in a nice one.

Give the A3 a look. The new 1 series is good but the new A3 that is just coming out moves the game on again. I had both an old A3 and a 1 series. The 1 series was one of the worst cars I ever owned.
 
srhutch said:
What sort of allowance do people get, would have to be huge to get me away from my company car.
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Enough for me to make it worthwhile :) That's going to be different for different people though. If you're happy with your company drive and paying tax on it then fair enough.

One other benefit to running your own car, if your company pays less than the government recommended mileage rate, you can claim the difference back against tax :thumbsup:
 
Stuart Truman said:
srhutch said:
What sort of allowance do people get, would have to be huge to get me away from my company car.
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Enough for me to make it worthwhile :) That's going to be different for different people though. If you're happy with your company drive and paying tax on it then fair enough.

One other benefit to running your own car, if your company pays less than the government recommended mileage rate, you can claim the difference back against tax :thumbsup:
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My allowance covers the repayments on my loan from the bank to pay for the Z with enough change to cover my monthly insurance premium and some contribution to servicing. We claim mileage at 45p per mile for the first 10k miles, then a lower rate thereafter, and the difference between that and the goverment rate is recovered through salary before tax, which saves claiming it back separately. It's called the M11 rate I think. Works out fine so far, though I have to work to keep the business mileage down - as a home based worker that is easier than being in an office. As Stuart has said, I keep the car if I change company, and any new job would have to include a similar allowance or a decent pay rise if I move any time it the next 2 years, which is doable.
 
When I first got a job with a company car, that was the reason I went and got a Z4. Grated, at that point I already had my first house, but it is completely a personal decision. I still have that same original Z4 and she's still in great shape with very low miles. (35k). Since she's used sparingly and I have a relative dog of a company sled, the German girl is still special every time I slide behind the wheel.
 
The company car allowance at my place stipulates the car has be under 5 years and 4 doors and not a convertible :headbang:

Then its £5k (well just under) initial, £330 per month, and 40p per mile for the first 10k (i think) and 25ppm there after to a certain amount - which i never reach the end of.

For the OP i would personally see what car you get, if it satisfies your petrolhead side then get rod of the Z. If it doesnt still get rid of the Z and get a Z4M :evil:

And congrats on the job!!

Sent from my iPad using Tapatalk HD
 
Hey... enjoy it while it lasts, before you know it you'll have 3 cars & then you'll be really stuck which one to use, let aone when the 4th arrives... lol
 
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