pete1977

Im looking at getting the wife a new car as ive landed a high paying job overseas .Shes always had to make do with old bangers ,as the cash was always thrown at my latest projects ,so i want to treat her.
I dont think i would get the HP on any car due to the nature of my job so would like to lease a car.Ive set myself up as a ltd company which ive been told is a must for leasing but dont know anything about leasing cars .Ideally i would like something pretty flash for her (porsche) and i have a budget of around £1000 a month.Any info would be great .

Pete

Reality

She'll only use it to pull new boyfriends.

Get her a sysansgsoyong pishmobile .

Hopefully someone else will be able to give you some real advice

pete1977

You might be on to something there Reality,pishmobile it is

pete1977

Anyone

Newbie123

Have a look here for a start...

http://www.contracthireandleasing.com/

This should give you an idea of the current offers available and some of the firms out there. Also have a look in the back of whatcar and topgear magazines for other offers and companies. Also it may be worth checking to see if their members of http://www.bvrla.co.uk/ as they tend to have a code of conduct that they adhere to.

Basically it's just a case of trying a few companies and getting some quotes in. Then check that the terms are the same, normally it's 3 payments up front followed by either 11, 23 or 35 payments (1, 2 or 3 year contract). Also check the excess mileage charges. The quotes will be exclusive of VAT, but you will be able to recover half of this back.

One problem you may have is if you're a new Ltd company with no accounts history, but most companies should still be happy to deal with you.

Also one thing you may not have considered is company car tax, she will have a benefit in kind due to the provision of the car, and on the type of car you're taking about this will be very hefty!

Make sure you talk to your accountant before you commit to anything as the tax consequences are sometimes overlooked.

Now, if you'd have been a partnership or sole trader then the company car tax wouldn't have been applicable, but your general tax bill would be slightly higher than the Ltd route. But if you intend having expensive cars through a business then the non-Ltd route is generally better, unless of course you're making really large profits.

Hope that helps.

Sbradley

One piece of advice only.

Don't use Network Vehicles. In fact, stay as far away from them as possible.

Lying, cheating, thieving ***** with very expensive lawyers.

Me? Bitter? Hardly at all...

But they *will* lie to get you in and then **** you over without a second thought.

SB

Edited to say that I have already had them in court once and am about to do so again. So I'm not slandering or anything else.

Further edited to say that this is my opinion and that of my barrister - not that of Scoobynet or any associated organisation, entity or person.

Chrisgr31

You don;t need to be a ltd company to do a contract lease. I did it with my last car, I just had to pay VAT on top of the quote. Do look around and ensure you estimate the anticipated mileage correctly!

I have my doubts that Contract Hire works for many individuals though. I did it becase I could get an Impreeza on a 2 year contract for £360 a month (inc VAT) with an annual mileage allowance of 30,000. Had I been doing less mileage I don;t think the figures would have stacked up.

In fact replaced my Impreza with a Hyundai Sante Fe as it comes wilth unlimeted 5 year warranty. Be interesting to see them paying out on claims with 100,000 miles on the clock in a couple of years!

pete1977

Thanks for the reply guys.I havent spoke to an accountant yet as im still finalising details for moving abroad.Nice to see youve covered some tax issues there aswell Newbie123.Im going to be out the country for 10 months of the year so that im not liable for tax but wasnt sure how it would affect getting the missus a leased car.Looks like i,ll need to seek one out sooner rather than later.