Company car opt out

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Thu 22 Jan 2004 11:13
Company car opt out - Viking
When the changes to emission based taxation were introduced in 2002 I opted out of the company car scheme and switched the remainder of the lease on my company car to my name having an increase in salary etc. I have Mar 2001 BMW 525 series touring auto that is soon to be returned to the leasing company. They are asking 15,100 for me to buy it with 72K on the clock. The alternative is to maybe buy a new or ex demo V70 or go for a Merc E320cdi on lease.

As it is now "my money" I'm spending should I keep the BMW, buy a Volvo or lease a Merc. I guess I'm looking to save money for myself.
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Thu 22 Jan 2004 16:52
Company car opt out - Roger Jones
Viking

You're looking a bit lonely with your zero replies, so here's a friendly opinion:

* Are you happy with the BMW, really happy? If so, keep it and enjoy it for another 72k, of which it is surely capable if it has been properly looked after. Better the devil you know, etc.

* I bought two of my company cars because I had enjoyed them so much from new. The Audi 100 gave me 10 years of excellent service; the Capri 2.8i is approaching its 20th birthday and is as enjoyable as ever. The depreciation I suffered on them was/is minimal, which reinforced the continuing enjoyment.

* The price tag looks a tad high to me, but I do not know the used-BMW market well.

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Thu 22 Jan 2004 18:24
Company car opt out - Vansboy
Agreed!

If you like the BMW & it's done it's job well, not let you down,I'd stick with it.

It's still quite new, not high miles & has lost it's big lump of money, within the depreciation curve.(see other post on here about that one)

& to get an REAL valuation, run it round a few dealers, see what they'd pay cash for it, or as a swap in for the others you fancy. No need for them to know it's not yours to sell!Then see what the deal would be WITHOUT a part exchange - you'll know if they've made an over allowance on yours, or not.

VB
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