Can someone explain benefits of company lease car versus personal lease car

[Nosha123]

Boss has just said that instead of replacing my current car (company leased for 36 months) when it expires - he would rather give me the money and I get my own car...

Now - as my current car is classed as a sports car - I do get taxed quite heavily on it...

What is my best option?

Boss gives me the equivalent of what he pays for the current car - and do I
a) get a loan and then buy a new car
or
b) lease a new car...

I would be looking to replace it with something similar. and if I get the money as opposed to the company leasing the car - then I obviously get taxed on the income too.

What would be the best option? Current car equates to £380 per month exc vat. Company pays for maintenance and services - so presumably I would then have this cost to bear.
Would I be better off buying a car on finance.. then if I want to trade it in in 3 years time for a new one ?

[factor-fiction]

Just a point -the tax you pay is based on the list price of the car so being a sports car doesn't 'per se' mean a heavier tax.
You will of course pay tax and NI on your extra pay although I'm sure this will be outweighed by the savings on the high tax charge for a company car.
Remeber you'll have to insure it too - maybe for business use too.
Will you use it for business? If so you need to ask what rate per mile your employer will pay

[ummmm]

Work cars are a pain in the backside....

[Nosha123]

I have had 3 company cars here now... and was happy to continue in the same way - but I think my boss is worried about me leaving then dumping him with the contract - one girl left in jan with half the contract still to run - luckily the finance co managed to flog the car then!
Will I be worse off financially though? WHo should I speak to? An accountant??

[woofgang]

If you like to have a brand new car every 3 years from brand new then a lease is a better deal but you could lease one yourself.
BUT if you just want a nice car and maybe save a bit into the deal then go for warrantied used.
The two laces you get caned are on list price and emissions. a sports car will put your insurance up but not necessarily your road fund.

[northernmonkey]

Do a search on AB and read few old posts about this same thing (company car vs own car) you might find that more useful ?