Taxi Driver Online

correct, my deposit was trading the Octavia in and i gave another £100 when ordering the car

Does it work out any cheaper doing it this way rather than leasing for 3 years?

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Grandad,

It's cheaper because you can off set it against your tax. Loads round here are doing it.

Cah-flow wise there's little difference in leasing or HP. there's tax differences as you have to allow depreciation on an HP car, whereas lease goes straight off the profit/loss accounbt so I'm told. The end result doesn't alter the price of fish. you still have to allow an amount every week to pay for the car which is a what a lot of folk forget!

Both are offset against tax.

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Grandad,

mmmm, open to debate, the HP interest isnt tax allowable

the write-down agains tax is over 4 years, though any loss when selling could be tax deductable

i have a clever plan for anyone whose wife doesnt work to see LOTS of tax allowances from 1 vehicle - its not as good as a Google-scam but if your doing £££££££££££££ per week its good for a big saving, otherwise dont bother

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

Debateable is the right word!

well i was looking at hiring a car aswell for 3 years as it looked very tempting, but the council up here won't allow it i think, so just went and got one through hire purchase finance

Depreciation is done like this


If you lease you claim 100% of your expenditure each year

If you buy a car you claim 20% of what you paid for it minus a personal use

example

Car £10000 to buy

Tax allowance is £2000 minus say 10% pu so you claim for £1800 in year one

Year two is now £8000 minus 10% leaving you £1600 minus £160 resulting in a claim of £1440

Now you sell the car and have claimed £3600 from the £10000

This leaves the car owing you £6400

Now the px is only £5000 so you short by £1400 an you just add that as a capital gains loss that year so you would be putting in the £1440 plus the £1400 for the year i.e £2840 for that year

When i was replacing the octavia, i was thinking of just renting a taxi off the office, would have been a general octavia, but then its £100 a week to rent the car then another £72 for radio, so i thought i was just better off getting my own car

Not always as you will be need £60pw for a s/h car finance payment at least £25pw insurance if you are the right age history etc £25pw for road tax and plate licence oil an tyres then the £72 radio

at least the £172 is no risk an you can walk away from it at any time

You'd pay twice that here

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

And here.

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IDFIMH

whats your car monthly payments costing?, what was included in the rental, plate/insurance, was it a "just fuel" rental?

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

my monthly payments for the superb are £341.88, the inclusions for the £172 per week included a 1.9 tdi PD 59 plate octavia hatch,(thats the only kind of car the office rent out),radio, meter, datahead,a taxi plate, all mechanical's, tyres, but you usually have to share a car with an other driver, (the office has about 15 generals and 5 private hires all owned by united taxis) you have to pay your own insurance and then if another driver was on the car i would have to get a little run around car to use while he was driving the taxi, not a good idea and i much prefer having my own car so i decide when i work.