Who’s swapping their Mk7/7.5 then...

[fredgroves]

Given the state of the world right now, I am not surprised to see VW furiously discounting.

I should think their financial projections are pretty grim for the next 2 quarters - assuming they have any realism in their numbers.

[Talk-torque]

............not that they will be alone in that!

There will be bargains and opportunities out there, for people who are able to take advantage, but a lot of companies, and individuals, are going to suffer, some badly. A difficult year ahead.

[Jim_mk7.5]

Mine goes back end of May so I'm into my last few months of GTI 'ownership', which is actually just me looking after a hired car  Seriously though, I have really enjoyed both GTIs and have been considering what to replace my current GTI P with. Been looking at opting out of company cars as get hammered on tax and don't do too many miles and can get a reasonable allowance. Really fancy a TCR but was thinking an R might be a better option and a bit different to my last 2 GTIs. There are a lot of other things I've been considering... But we are just moving house, taking out a new mortgage and worked out I'd be no better off money-wise with an allowance as I'd blow it all on a car.

So I'm moving over to the dark (green) side and ordered a plug-in hybrid...  The monthly tax benefit is well worth it and also my new commute to the office (if we aren't all working from home by June!) is 5 miles so I'll be able to get there and back on electric-only so will probably save a good chunk of fuel as well each month (currently ave around 20-25 around town).

Going to get the GTi fully cleaned up this weekend as it has been used for moving stuff and not washed for about 6 weeks and start enjoying some drives out. Plus got the Standford Hall show coming up so will be great to meet people from the forum 

I'll also have a few bits for sale in May which are genuine black gloss mirror caps, the alloy footrest (from Super Skoda), and my VagSport res delete. If anyone is interested in these in advance, drop me a PM but will post in parts section nearer the time.

[fredgroves]

Which hybrid did you go for?

Company cars became a mugs game and I pulled out of that 3 years ago to go it alone with a cash allowance instead. Worked out quite a bit cheaper for me, but I guess it does depend on how your employer was charging you for the car in the first place but can't imagine a GTI would have been a bargain. BIK rates drove me away from petrol decades ago.

Interestingly this year HMRC have given a zero BIK on fully electric. I went back to look to see what deals were being offered only to discover that my employer had cancelled the whole car scheme and moved everyone to cash allowances.

I hadn't noticed because nobody I knew still had a company car - everyone had swapped to cash, I was pretty much the last holdout.

Shame, because zero BIK would have been rather tempting to go fully electric.

[Jim_mk7.5]

Which hybrid did you go for?

Company cars became a mugs game and I pulled out of that 3 years ago to go it alone with a cash allowance instead. Worked out quite a bit cheaper for me, but I guess it does depend on how your employer was charging you for the car in the first place but can't imagine a GTI would have been a bargain. BIK rates drove me away from petrol decades ago.

Interestingly this year HMRC have given a zero BIK on fully electric. I went back to look to see what deals were being offered only to discover that my employer had cancelled the whole car scheme and moved everyone to cash allowances.

I hadn't noticed because nobody I knew still had a company car - everyone had swapped to cash, I was pretty much the last holdout.

Shame, because zero BIK would have been rather tempting to go fully electric.

BIK at 40% is £351 a month on the GTI P. You need well over £500 a month car allowance to buy and run a GTI to be any better off than paying the tax. But decided I'd rather have some extra money in my pocket for the next couple of years.

Yes, the full electric option is tempting but there are no lease deals on anything remotely interesting.

So I've gone for the new 330e M-Sport. And they are dropping the BIK rates on PHEVs so from April I'm looking at 12% which means £160 a month tax at 40% rate. Real-world range is 30-35 miles as it's got a bigger battery now so with the fuel-saving as well will be quids in.  And it's tested as 0-60 in 5.5 secs using the Xtraboost function so nippy from the lights if needed 

[fredgroves]

So your company pays for the lease and you just pay the BIK?

I had to pay the lease (salary sacrifice so from my gross pay), plus a figure for company insurance and then the BIK....

Its a big company, so you'd imagine that they'd get a far better deal than me... and it was for many years until HMRC started piling on the BIK. Once effectively I was paying everything from net pay, I could actually achieve a better deal myself - ironically.

HMRC's argument was that salary sacrifice for company cars was an unfair benefit, because not everyone in the UK was offered a car scheme.

[Jim_mk7.5]

So your company pays for the lease and you just pay the BIK?

I had to pay the lease (salary sacrifice so from my gross pay), plus a figure for company insurance and then the BIK....

Its a big company, so you'd imagine that they'd get a far better deal than me... and it was for many years until HMRC started piling on the BIK. Once effectively I was paying everything from net pay, I could actually achieve a better deal myself - ironically.

HMRC's argument was that salary sacrifice for company cars was an unfair benefit, because not everyone in the UK was offered a car scheme.

Yes, they pay the lease, insurance, etc and I just pay BIK. So the last 5 years I've picked decent cars and thought, its no bother. But my salary has increased and now feel it's a good time to advantage of the PHEV option.

Plus I have my Ducati for when I want to make a lot of noise and have some serious fun!

[Ian_C]

Which hybrid did you go for?

Company cars became a mugs game and I pulled out of that 3 years ago to go it alone with a cash allowance instead. Worked out quite a bit cheaper for me, but I guess it does depend on how your employer was charging you for the car in the first place but can't imagine a GTI would have been a bargain. BIK rates drove me away from petrol decades ago.

Interestingly this year HMRC have given a zero BIK on fully electric. I went back to look to see what deals were being offered only to discover that my employer had cancelled the whole car scheme and moved everyone to cash allowances.

I hadn't noticed because nobody I knew still had a company car - everyone had swapped to cash, I was pretty much the last holdout.

Shame, because zero BIK would have been rather tempting to go fully electric.

BIK at 40% is £351 a month on the GTI P. You need well over £500 a month car allowance to buy and run a GTI to be any better off than paying the tax. But decided I'd rather have some extra money in my pocket for the next couple of years.

Yes, the full electric option is tempting but there are no lease deals on anything remotely interesting.

So I've gone for the new 330e M-Sport. And they are dropping the BIK rates on PHEVs so from April I'm looking at 12% which means £160 a month tax at 40% rate. Real-world range is 30-35 miles as it's got a bigger battery now so with the fuel-saving as well will be quids in.  And it's tested as 0-60 in 5.5 secs using the Xtraboost function so nippy from the lights if needed 

I’ve gone for the 330e m-sport too. Not quite as generous at our place as we pay the lease as well as BIK....but it’s costing me the same as I’m paying for the gtd even though the retail price is ~£15k more.

[Jim_mk7.5]

Which hybrid did you go for?

Company cars became a mugs game and I pulled out of that 3 years ago to go it alone with a cash allowance instead. Worked out quite a bit cheaper for me, but I guess it does depend on how your employer was charging you for the car in the first place but can't imagine a GTI would have been a bargain. BIK rates drove me away from petrol decades ago.

Interestingly this year HMRC have given a zero BIK on fully electric. I went back to look to see what deals were being offered only to discover that my employer had cancelled the whole car scheme and moved everyone to cash allowances.

I hadn't noticed because nobody I knew still had a company car - everyone had swapped to cash, I was pretty much the last holdout.

Shame, because zero BIK would have been rather tempting to go fully electric.

BIK at 40% is £351 a month on the GTI P. You need well over £500 a month car allowance to buy and run a GTI to be any better off than paying the tax. But decided I'd rather have some extra money in my pocket for the next couple of years.

Yes, the full electric option is tempting but there are no lease deals on anything remotely interesting.

So I've gone for the new 330e M-Sport. And they are dropping the BIK rates on PHEVs so from April I'm looking at 12% which means £160 a month tax at 40% rate. Real-world range is 30-35 miles as it's got a bigger battery now so with the fuel-saving as well will be quids in.  And it's tested as 0-60 in 5.5 secs using the Xtraboost function so nippy from the lights if needed 

I’ve gone for the 330e m-sport too. Not quite as generous at our place as we pay the lease as well as BIK....but it’s costing me the same as I’m paying for the gtd even though the retail price is ~£15k more.

I've had company cars now for 20 years. Never once have I been charged for the car, always just liable for the BIK tax. Guessing that must not be the case for everyone.

So, in essence, I still consider being able to get a brand new car of your choice for £350-400 a month in tax with just fuel to pay for not a bad deal. I had a W205 C200 AMG for 2 years, then the 2 GTIs. To be fair though, it's only the last 5 years that I've been able to pick and choose myself and most of my previous company vehicles have been fairly run of the mill diesel chuggers. Hence why I got my first bike at 21 to coincide with my first company car  And then ran an S2000 for a few years when biking became a bit of health risk!