Hello,
Another question - giving some thought to potentially buying a company car however I do have a personal car to trade in. If I went down the company car route was planning on purchasing car personally, maybe also making use of my personal credit rating for finance which is far better established than my company's, but reselling to my company.
However, would any trade in value I got from old car need to factor into the price I could sell the new car for to my company? (I'm assuming it wouldn't be reasonably to just sell the new car at original market value to my limited company if higher than my personal "purchase price")?
For example, if I bought a new car price listed at £20k, and got a £5k trade in for my old car would it be reasonable to sell the new car to my company for £20k (market value/purchase price without trade in) or would I have to sell for £15k (£20k less swappage on my old car).
Don't know whether trade in deals/minimum swappage, reduce the purchase price of the new car, and would therefore need to be passed for selling to my company (in the same as ways as, say, haggling would), or whether the trade in is just money from sale for an old car that's separate to purchasing the new car, i.e. just sale proceeds on the old car that, for convenience, go towards payment of the new car.
I guess this comes down to whether the dealership gives you extra money for your old car if you buy a new one from them... or if they discount the new car in exchange for giving them your old one.
Cheers!
Another question - giving some thought to potentially buying a company car however I do have a personal car to trade in. If I went down the company car route was planning on purchasing car personally, maybe also making use of my personal credit rating for finance which is far better established than my company's, but reselling to my company.
However, would any trade in value I got from old car need to factor into the price I could sell the new car for to my company? (I'm assuming it wouldn't be reasonably to just sell the new car at original market value to my limited company if higher than my personal "purchase price")?
For example, if I bought a new car price listed at £20k, and got a £5k trade in for my old car would it be reasonable to sell the new car to my company for £20k (market value/purchase price without trade in) or would I have to sell for £15k (£20k less swappage on my old car).
Don't know whether trade in deals/minimum swappage, reduce the purchase price of the new car, and would therefore need to be passed for selling to my company (in the same as ways as, say, haggling would), or whether the trade in is just money from sale for an old car that's separate to purchasing the new car, i.e. just sale proceeds on the old car that, for convenience, go towards payment of the new car.
I guess this comes down to whether the dealership gives you extra money for your old car if you buy a new one from them... or if they discount the new car in exchange for giving them your old one.
Cheers!
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