If you have the choice of a Company Car or Company Car Allowance, you should check out how much Company Car Tax (or Benefit In Kind Tax as it is also known) that you would pay if you accept a company vehicle, and then decide whether to go for the Company Car or cash. You could be better off taking the car allowance and leasing a car yourself, even though the allowance is taxable.
The Cash for Car scheme has become increasingly popular with both employers and employees in recent years. Employers save time and money in not having to source, maintain and administer a fleet, although they must always be aware of their Duty of Care and Health & Safety responsibilities. And as an employee, you have more freedom to choose the car you drive, and you could even be better off if you dont spend all of the company car allowance you receive. However, some employers do stipulate the type and age of vehicle that is acceptable, according to the job you are doing.
If you choose to accept a Company Car Allowance, its worth considering Car Leasing vs Buying. Car Leasing (also known as Contract Hire) is simply the hiring of a vehicle for an agreed period of time for a fixed monthly rental. Unlike Short Term Rental or daily rental, a car lease is usually for 2-5 years, after which you can simply hand the car back with no further commitment or, in some case, you may be able to purchase the vehicle if you wish. Car Leasing is a convenient, cost-effective and hassle-free way of financing a new vehicle, and there are many benefits of leasing a car. It enables easy budgeting of your motoring costs, and the fixed monthly payments can even include servicing and maintenance. Also, theres no need to worry about depreciation or disposing of the vehicle at the end of the contract.
If you’ve ever wondered how to finance car, there are really only a few simple steps you have to follow. Car financing is very common since the average person doesn’t have several thousand dollars lying around to spend on buying a car outright. The car buying process is very simple once you know the basic format. When you follow these steps, you’ll be able the get the financing you need for the car that you want to buy.
1.Become familiar with your credit score
This is one of the most important steps in how to finance a car. Before you even think about borrowing money you need to know your credit score. Your credit score will let your lenders know your history with borrowing money. Frequently, there are mistakes on a credit report that will negatively influence your ability to get financing. Check your credit score and your credit report and correct any errors before you try to borrow.
2.Save a down payment
Your ability to borrow the money to pay your car is increased greatly if you place a down payment on your car. If you can manage a 20% down payment, your chances of borrowing will be very high. Even a 15% or 10% down payment can help lenders see that you are willing to put forth money to invest in yourself. Pick out your ideal car and start saving for a down payment. You’ll be rewarded with a better rate and lower payments on your auto loan.
Seasoned auto enthusiasts and even weekend-warriors can make great progress on their classic car restoration projects – but only if they have the right tools. Most classic cars have old parts, rusty patches, and jagged edges. It takes a well-stocked tool kit to work with these problems and make your car as good as new. If you’re thinking about taking on a new project, here are a few of the most important pieces of equipment and tools that you’ll need.
Impact Wrench
Most old cars have lug nuts and bolts that are far too difficult to unscrew with muscle power alone. Even if you can manage to get them off manually, they’re probably found all over your car. To save yourself time, energy, and a lot of frustration, you’ll need to keep a quality impact wrench in your garage. It can take even the tightest bolt off in seconds.
Electric cars have become very popular recently due to new information on how to convert to a electric vehicle. Most people seem to believe that electric vehicles are not practical because they can not travel far enough, but this is simply not true.
Granted you are not going to take a cross country trip in one, unless you also happen to own the worlds largest extension cord. Until battery technology improves, that is even beyond the range of a brand new $100,000+ tesla roadster. So that proves your point right? Lets take a
closer look.
How much do you really travel every day? Government studies show that 80% of Americans drive less than 50 miles a day, 50% drive less than 25 miles a day, with a range of 100 miles or more an electric vehicle will easily get you through the day.
So youve sunk a whole load of money into an old car with the intention of lovingly restoring it to its former glory. But its only now that youve started looking for car parts that youre beginning to wonder what on earth have you let yourself in for. Whether youre in it for the money or for the sheer fun of it, any car you restore is only going to be the sum of the car parts you put into it. So before you start building from scratch, here are a few points to consider.
Cars arent that complicated to understand, right? Well, theres a world of difference between replacing the odd car part here and there and refitting the insides of an empty carcass like a jigsaw. Before you commit financially to any project, be sure to ascertain honestly what your ability is, and also how much time and effort youre prepared to put into the project. A fancy paint job and new upholstery can be as much fun as installing the most basic of engine parts, if that is where your technical comfort level is. Consider what youre prepared to put in, before you start ripping those old car parts out.
Once youve decided upon the type of project you want to work with, be sure to wait for the right car with the right parts. Of course you can learn as you go along, and that might even be part of the fun, but dont invest in a car minus parts you havent the interest in learning to find and fit. You might love that make and model at the time of purchase, but a few weeks of sitting in your front yard without the final missing part will be enough to sour your relationship forever.