Company Bought Me A Car, Now Leaving.

[Fineline]

As the title suggests a company bought me a car, although I am self employed I work solely for one company. When it was bought my own car was used in part exchange to buy it. I pay for the insurance the company pay for road tax and repairs.
I am thinking of leaving and would like to know if I have any rights to keep it as I will be car less having used mine to part ex.

Thanks.

[Anngel123]

Who's name is on the ownership papers? You should at least be entitled to the money back you put in for the part ex....it would depend what was agreed on the paperwork. MIght be worth popping down to Citizens Advice (I think you will need to make an appointment though. )

[factor-fiction]

I would expect there to have been some documentation setting out the terms of the arrangement which should have dealt with this eventuality. Was it a leasing arrangement perhaps?

[Fineline]

Sorry, forgot to put...company has the log book, they are the registered owners. For insurance I am the registered keeper.

[factor-fiction]

I would definitely check the paperwork before going to see CAB. It may be all be set out clearly in there

[IggyB]

Hi, I would suggest that the CAB office would be unable to help as they will also not know the terms of the contract you have entered into. Try and find the original paperwork as it would be very strange to not have any.

[Fineline]

You guys are quick...thanks. There was no paper work at all.

[Quoi]

It depends on the amounts and how good the relationship is.
On one side you could reasonable expect to claim the original value of the your traded in car, on the other side they may reasonably expect in return the wear and tear and depreciation of the car you are using.
Is your relationship with them good? they may be generous or accept an offer on the car for you to keep it.
If I was them, I may want to keep the car for your replacement.

[Fineline]

Relationship is good at the moment, but when I tell them I'm leaving I'm guessing that may change.

[factor-fiction]

Good luck. I guess I'm too cautious to have just handed over my own car to be used as part-ex on a company vehicle without seeking some sort of receipt and assurances. What happens may depend on the age and value of the car and whether they want to retain it. They may offer to let you buy it at an agreed discounted rate

[IggyB]

That sounds like a very strange agreement I'm afraid. It sounds like you have partially funded your companies purchase of a car without any terms being agreed, I suggest this is going to be hard to unpick. Good luck with the new job

[bednobs]

I also don't understand if you are self employed you intend to tell them you are leaving - just decline to tender for anymore work for them

[Baldric]

The V5 (or Log Book as you call it) does not provide proof of ownership,
It records the Registered Keeper!

[EDDIE51]

Off topic but I understood that you can not be classed as self employed if you only work for one company/person.
On the original question, do you use the car only for company business or for private use as well? Does the company pay a mileage allowance?

[factor-fiction]

Was it definitely your own cat that was used in the part-exchange deal or was that also a car provided by this company?
If there was no agreement about the car and if you are genuinely self-employed and have other plans I would just start doing less and less work for them and wait for them to say something about the car.
But the whole situation seems unusual and I'm wondering whether there are other factors- e.g. is it a family business, perhaps your parents' business?

[Fineline]

It was definatley my car that was part xd, they do not pay mileage and it is for business and pleasure.
I work in Cornwall and the company is based in the West Mids but have always just used them for work as they can keep me supplied with it.

[factor-fiction]

Thanks. My previous comments/suggestions stand then- just start doing less and less work for them and see what happens.

[Fineline]

Appreciate the help