Hiya
I hope you guys can help. I have been speaking to colleagues over a number of months I am trying to get my head around how best to get a new electric car through my company. I am in the market for a new EV like the Tesla Model 3. The cost for the basic model with a few upgrades should be about 42k.
I would like to buy one so that the company owns it outright. What do I need to do?
I would be using it as a personal car of course so the few things I know are:
This is everything i have been told so far. Is anything incorrect? Is there more to it? What do I need to look out for?
Many thanks and I appreciate your replies.
I hope you guys can help. I have been speaking to colleagues over a number of months I am trying to get my head around how best to get a new electric car through my company. I am in the market for a new EV like the Tesla Model 3. The cost for the basic model with a few upgrades should be about 42k.
I would like to buy one so that the company owns it outright. What do I need to do?
I would be using it as a personal car of course so the few things I know are:
- The company will own the car.
- My company can pay for the car in installments.
- The car's value is wiped off the books after 3 years
- There is a luxury car tax on the car as its over 40k
- The company pays for the maintainance of the car, service, insurance, any tax etc
- I would have to pay for the fuel / electricity
- The corporation savings will be 20% of the total value of the car
- I have to pay 16% of the cost of the car to my company until April 2020 after which it will drop to 2%
This is everything i have been told so far. Is anything incorrect? Is there more to it? What do I need to look out for?
Many thanks and I appreciate your replies.
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