Taxi Driver Online

Take on a £400 a month debt to buy a new Superb or keep running my 2009 motor (79k miles) when i will have no repayments after this month just to step up from 40mpg to (unknown) 50mpg+

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Of all the things ive lost, i miss my mind the most

Run the Older car for as long as you can, Bank the £400 PCM towards another car and then buy a new Debt Ex Demonstrator car in around 36 months...After you have that Initial Cushion Cost in place you will always be to be one be one jump Ahead and not need worry about the last car you buy.

Why Pay the HP companies money just to appease your own Impatience. It would be Different if you were starting up from Scratch with no current car.

Sometimes it pays to finance, depending on your tax situation.

True...you get something like a Quarter of the Vehicle cost as Tax Deductable over 4 years and that Equates to around £100 of that £400 PCM you'll not pay tax on.

(Playing Devils advocate) :- The tax benefits are only achieved after the 1st year, in the tax calculation, the repayments start from day one.... (not saying it wont happen), BUT, the invoice for the new car is "in total" and issued on delivery, it includes (and shows) the £2500 VAT content, if i went VAT regd i could claim that back in the next VAT quarter

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Of all the things ive lost, i miss my mind the most

Wouldn't you then have to pay a proportion of your fares as VAT, and for a lot longer than one quarter?

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

but also reclaim VAT on every expense too tho...£6000 a year fuel = £1000 and i could add 20% vat to the school invoices, 80% of my work is account so id charge it and hand it over...

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Of all the things ive lost, i miss my mind the most

You've got the figures so do the math and see if it's worth the agro

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

It all depends on peace of mind and the level of your clientele.

Personally I would buy the new motor, but then I always do.

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IDFIMH

Was VAT regd for quite a few years, I ran 3 LWB vans on courier work, so the aggro (as you put it) is nothing new, and not as much aggro as having PAYE employees with tax+NIC to organise

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Of all the things ive lost, i miss my mind the most

Go on you know you want to.

go away you

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Of all the things ive lost, i miss my mind the most

£17,416.67 + £3,483.33 (VAT) = £20,900.00


ref capital tax allowances (tax write down) year one being 40%, if you buy the vehicle in the last week of your tax year you get the 40% against that years tax....


£17,416.67 = £6996 or £1500 saved

£1500+£3483(vat) = £4900 back in a quarter

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Of all the things ive lost, i miss my mind the most

Here's some Skoda porn for you.

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Sometimes the most telling information comes from what's not said...