Buying my company car

[Robster59]

Hi. I'll be retiring soon and I'm considering buying my company Skoda Superb iv hatchback. It was registered in March 21 and has been regularly serviced and had done 82,000 miles. The buy price from the lease company is £10,800 which is a few £K below buying one through the trade, and I know it's not been driven hard.

I would appreciate anyone's thoughts on this. I'll be 67 and so will probably just buy it to run as long as I can. It's been a long time since I've had to buy a car as I've been driving a company car for the last 20+ years.

Thanks in advance

 

[rudebhoy]

Sounds like a no brainer assuming you like the car. Mileage is a bit on the high side, but you know where it’s been, which is a big plus, no hidden nasty surprises.

Even if you are hankering for something else, or decide you don’t actually need a car (ie you could share your partner’s car), it sounds like you could make a nice profit selling it.

 

[Lord Tyrion]

I was in the same position, same car, slightly different engine Skoda Superb 2.0d. I bought It, it gave me peace of mind as I knew exactly what had been done, how it had been treated/driven. That's worth quite a bit.

The fact that you are thinking of buying it suggests it's been a good and reliable car. That bodes well. Any second hand car you buy from a dealer, you just don't know it's background.

 

[RichA]

That's a very smart option, I think.
And it will be good for towing the speedboat you'll be buying with your pension commutation.

 

[Hobbit]

Buy it. You know it hasn’t been rag’d by a boy racer. You’re unlikely to put 20,000 a year on it once retired. And if you do decide to move it on, you bought it below book price and won’t lose much on it.

 

[jim8flog]

The one time I bought my company car was on a really good deal when I left them.

I sold it virtually immediately to turn a 'profit'.

If you do not have any no claims discount remember to let the insurance company know you have been driving a company car as many will offer 2 years NCD.

 

[Robster59]

Thanks all. It looks like I'll buy the car. I also asked the same question on the Briskoda forum who also have the same advice.

 

[Bunkermagnet]

Thanks all. It looks like I'll buy the car. I also asked the same question on the Briskoda forum who also have the same advice.

Used to be on that myself

 

[Oddsocks]

The one time I bought my company car was on a really good deal when I left them.

I sold it virtually immediately to turn a 'profit'.

If you do not have any no claims discount remember to let the insurance company know you have been driving a company car as many will offer 2 years NCD.

If his employer puts it in writing that he has XX amount of years in a company vehicle without a claim listing their insurance company (in case it’s needed) a good percentage of insurance companies will accept this as a form or NCB

 

[Sid Rixon IV]

If you buy it, as you should, don't make the mistake I made. I drove it for 18 months without an MoT because I'd never had to deal with stuff like that

 

[Billysboots]

Really well made, solid and reliable cars. I’ll add my vote to those saying you should buy it. Even if you didn’t know it’s history, most lease vehicles with relatively high mileage have racked a good proportion of them up on the motorway anyway, which is no big deal.

But you have the added advantage of knowing where it’s been and how it’s been driven. Buying is a no brainer.