[Bricktrix]

I love my old accountant, today he took man maths to a higher level for me!
A new m4 cp will save me 400 quid a month!!
Obviously it wont, but I love his reasoning.

Sorry to keep questioning this, but its a choice I really want to get correct and try to justify to myself and I still have a lot of time to get it correct....so;

Things have changed a bit in life since I posed a similar question , now have name down for a new house build also, which I initially thought would maybe force me to push any car change back until I have the mortgage sorted, but its not the case.

Trying to keep it simple and not bore you all, (although this is still going to get long so please stay with me if interested)

Full time job still , new outside project deal finances coming into the equation.
Forming a ltd company, so new mortgage will be considered on my annual full time job wage plus my partners.
I get large bonuses, they are not worked into these figures either.
No problems there, dont even need to sell our 2 houses to get the mortgage for the new one, but want to be comfortable so probably will do.....have a really nice deposit, not own 3 houses, etc, etc.

Get rid of current car and new car payments put through ltd company, so I'm now saving 400 quid a month out of my full time wage
Finances going into ltd company were finances I never had before or ever planned on having, will come in quarterly in big chunks.

I've never once had a brand new car and as all my mates keep telling me you only live once and opportunities like whats currently happening dont happen all the time, so go for it!

I have however owned 3 M3's over the duration of roughly 12 years in total, whilst I owned my own business.
Dont actually miss them now as I love what I have, but I'd also love the opportunity to own another and I dont think I'm going to rest until I do,.....especially as the mrs has no objection to it

So, I'm looking at a new car for 1st March delivery on a 17 plate, that is when the financial timing is right for me to put in place, considering ordering, build time, etc.

M4 CP is do-able, certainly after talking to my local dealer a few weeks ago and after going through all the options and figures with my accountant today.
I do 18k miles a year, getting a days test drive to work etc to see the proper mpg figures I'd be looking at with my driving style, as that could end up costing me the price of a PCP every month just for fuel.

1st choice: M4 CP

2nd: Masser,....yeah I know, I'm highly dubious about it after the sage advice I got here about them, but every time I see one,...well, just drool.
Still need to test drive one and look at figures, but it would be the petrol....well okay it may not be eventually, who knows?

3rd most sensible, 435D X-drive GC. More torque and usable power than M4, more practical in every way. If I had one now I wouldnt even be looking at another motor. BUT, its not an M4!

Am thinking M4 CP for 2 years, get it out of my system, then go into the sensible option of the 4GC.......but Masser!??? Would still like!

I hope at least 1 of you can see my conflict and offer some advice?
I realise its not a 3rd world problem, and I've never been faced with a choice like this before, you would think it would be a dream wouldnt you, but I want to try and make the right choice with no regrets but then you only live once, and none of us know how long we have left here, could get hit by a bus tomorrow, etc

Bugga!

[notused]

Too much thought, too long a lead time. Get something tomorrow and then think about Mar 2017.

Which Maserati? If diesel, no point.

[mpawood]

If you get a 435xd GC, it will only be a few months before you want an M4. I'm in exactly the same situation, thought the 435 would cure an itch but now I want more.

If you are putting it through a limited company you can only use it for business, unless you are willing to pay heavy taxes? I don't believe it is better to put a car with those emissions and cost through a company in general. I didn't put the 435 through my own company.

[Ice Man]

Forgive me if I have missed the trick or what you are doing. If your company is paying the finance on the car it owns it, it is therefore a company car on which you will have to pay bik tax. On an M4 CP that's about £8.5k per year (assuming higher tax rate) Not seeing where the advantage of the company paying the finance is as you will end up paying the tax man c£700 month which wipes out the tax saving on the £400 and puts you over a £1000 / month worse off


Edit i may have mis understood the £400 element to this but i would be interested to know how having an m4 as a company car is cheaper than owning it unles it's buisness only.

[Bricktrix]

Originally Posted by mpawood

If you get a 435xd GC, it will only be a few months before you want an M4. I'm in exactly the same situation, thought the 435 would cure an itch but now I want more.

If you are putting it through a limited company you can only use it for business, unless you are willing to pay heavy taxes? I don't believe it is better to put a car with those emissions and cost through a company in general. I didn't put the 435 through my own company.

The car would not be a company car, just the car payments would go through the ltd company and still pay the tax on those payments offset over 1.5 years after forming the company.

I really dont want to go into the tax and income side of things, as I know what I'm doing and really trust my accountant with his knowledge, (he looked after my business for 15 - 18 years previously) that side of it is sorted. I may not explain things here to the best of my ability but long and short of it is, not a company car.

My choice is the thing in question.
I dont mean to sound off if it comes across that way, I appreciate the responses

[mpawood]

If the company pays for it, they own it. Unless you are saying you are treating the payments as a directors loan but then you wouldn't be able to reclaim VAT or reduce corporation tax on the car.

Appreciate you don't want to go into the detail but there are a lot of people on this forum who own their own business and I'm sure they would all agree there isn't a way to put it through business unless it is a low emissions car.

With that said, the choice you put forward is "disregarding any finance, should I get an M4"....everyone would say yes.

[stefan4]

I saw my first m4 cp yesterday, those wheels are something else in the flesh!

if I was in a position to get into an m4 then I would jump at it having never owned an m car.

[goodbyalfa]

Originally Posted by stefan4

I saw my first m4 cp yesterday, those wheels are something else in the flesh!

if I was in a position to get into an m4 then I would jump at it having never owned an m car.

Amazing. Just saw one today in tesco's Newmarket in sakir orange. When he started it up and trundled out of the car park I think I fell in love. What a noise...

[Drisser]

Im still not sold on the wheels to be honest, really think they look a bit aftermarket but will reserve full judgement until I see some close up !

[JustChris]

Masser diesel is pants.

M4CP is needed here I think.

[Bricktrix]

Originally Posted by mpawood

If the company pays for it, they own it. Unless you are saying you are treating the payments as a directors loan but then you wouldn't be able to reclaim VAT or reduce corporation tax on the car.

Appreciate you don't want to go into the detail but there are a lot of people on this forum who own their own business and I'm sure they would all agree there isn't a way to put it through business unless it is a low emissions car.

With that said, the choice you put forward is "disregarding any finance, should I get an M4"....everyone would say yes.

Thats not actually correct. A choice can be made as to who owns the vehicle and each way has its own complications regarding tax / what can be claimed for, etc.
The ltd co wont be VAT registered, so VAT does not come into my equation.
It starts to get very complicated, especially when trying to explain it on a forum vs reasons for going down one path or another.

Hence, lets stay out of the debate about its going to cost me more in tax, etc.....it wont compared to any other way in my circumstances after exploring every avenue.

I do appreciate your comment, I was a business owner myself for a long time as a sole trader, thats different to what I'm about to go into now, but thats not what I'm asking about.

Finance and business is sorted, my car choice is not.
Long way off but need to be putting order in by Nov, if I go the new car route.
Too much time to think about it?? Yeah probably and it doesnt make things any easier, hence trying to get opinions.
When it comes down to do I blow a wad on an expensive new car out of childish passion at 48 years old, then yeah I'd really like some balanced opinions (as often happens here) and then take from that what I will.

I've not yet seen anyone say just get the 435 and be sensible, which surprises me so far, but then should I really be expecting that from this forum where everyone makes / entices us all to spend our money on stuff we really dont need, but really want!

Been a member here for around 12 months now and there are some people who offer really good advice, some of who I have personally met and like and spoken to on the phone about other purchase deals with watches, etc, etc.
Its good for me at this moment in time to get a broader vision, then make my choice.....its still looking like the M4 CP but still not yet seen one in the flesh, or even an M3 CP in the flesh.

Maybe I should just try to forget about it all? Could anyone seriously do that?
As much as I keep trying, months go by, the time approaches more and I cant help myself.
Kid, sweetshop, me!

[mpawood]

If you are saying you can afford an M4 and want an M4, noone here will convince you to get anything less than that.

I don't regret getting a 435d GC, I prefer it having X drive and 4 doors, but I will forever want an M car and will definitely look when my lease is up. I did genuinely think that when I had a 4.8 0-60 car I would.be satisfied, now I just wonder if I will ever be satisfied with any car I have!

Oh and I am genuinely interested in the method you are using to purchase the car and how it will save money. I have a limited company myself and decided not to put my car through it as I cannot see how it could be done legitimately.

[Ice Man]

Originally Posted by mpawood

Oh and I am genuinely interested in the method you are using to purchase the car and how it will save money. I have a limited company myself and decided not to put my car through it as I cannot see how it could be done legitimately.

+1 if you would rather Dm and point me ( us) in the right direction that would be great. Granted you may have a slightly different tax / income position. i have never found a way to do this and my Accountant has always said to own the car

[notused]

Judging by the conversation so far, I think you should get the 435d. Most sensible of the lot.

[BnB]

It rather looks to me as though you should spend some time thinking about your choice of accountant, before you choose your next car. If it looks too good to be true, it probably is. To my mind, your reluctance to explain the workings of the transaction says as much about how close it (possibly) sails to the wind as it does about your lack of experience with complex financial transactions. Go carefully.

[Ice Man]

I think this must be ECOS, sounds like you can afford it so get the M4

[225]

Having looked before about putting a car through my Ltd company I was told don't as it's far too complicated for tax and peaks the interest of hmrc which is never a good thing.

However just order the m4 and then buy a 435d second hand. By the time you get to the point that the 435d no longer does it for you the m4 won't be far away....

[Bricktrix]

Originally Posted by BnB

It rather looks to me as though you should spend some time thinking about your choice of accountant, before you choose your next car. If it looks too good to be true, it probably is. To my mind, your reluctance to explain the workings of the transaction says as much about how close it (possibly) sails to the wind as it does about your lack of experience with complex financial transactions. Go carefully.

My reluctance to explain the workings is because I simply dont want the thread escalating south of my reason for posting in the 1st instance. i.e. now more about the finances rather than the car choice of the 3.

400 quid a month better off was tonque in cheek man maths, I said at the top of my post obviously it wont be.

I will no longer be paying for my car from my fulltime job wage....thats the compartmentalized man maths to being better off.

So, back to car choice

[ciscopete822]

M4 all the way unless you decide to go for petrol V8 Masser.. thats a different story then .

[Ice Man]

Originally Posted by Bricktrix

My reluctance to explain the workings is because I simply dont want the thread escalating south of my reason for posting in the 1st instance. i.e. now more about the finances rather than the car choice of the 3.

400 quid a month better off was tonque in cheek man maths, I said at the top of my post obviously it wont be.

I will no longer be paying for my car from my fulltime job wage....thats the compartmentalized man maths to being better off.

So, back to car choice

so why comment on it in the first place, it was bound to be picked up on out of genuine interest as there are a number of us on here who have our own companies and will have all no doubt explored the company car route and taken advice on the best way to do it, if you have come up with something that our accountants have missed then naturally we are going to be interested as I am sure many of would love to "save" £400 and drive an M4.

[takumichinoku]

Above ^

Tbh that's what I thought. You mentioned it first in detail about your financial plan on how to make it work(don't know why you felt the need to) and people who are in a similar situation or who know their stuff questioned it and then you say change subject lol..

Don't think people don't believe you just they would like to know how you did it so they can apply it for themselves..

Regardless, just do it

[mpawood]

Exactly, discounting any financial implications of course you should get exactly the cat you want!