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pierre77
By pierre77 | Community user | 3 Posts | 25 April 2015 at 5:11pm

hi, i have a company car(a petrol Ute 2.400 cc ) that is a nightmare to drive(not only for me), hard back-pain since i drove it the first time. i have asked to my employer to find a solution and he has answered me to convert it to a 10.000$to top up on my annual salary (so it should be taxed!) but i have to provide my own car(that i don't have as i come from oversea) and i should take all the expenses (fuel, insurance , service,etc).It doesn't seem a good deal to me. any advise? Thanks

ABayliss
By ABayliss | AA Expert | 2169 Posts | 28 April 2015 at 9:06am

You don't say what age or value the vehicle you are currently driving is, but for $10,000 per year, you could take care of the running costs for a reasonable vehcile (including fuel, insurance, servicing, maintenance, finance costs, depreciation etc), however it would involve some planning and a little effort on your part.
Ultimately, it comes down to your expectation of what sort of vehicle you feel is appropriate for the purpose and that you would prefer to drive.
So depending on the age anfd value of the ute you are currently using is, it's likely that your employer is offering you an amount that would be approximately equal value to the vehicle that is being compensated for.

pierre77
By pierre77 | Community user | 3 Posts | 28 April 2015 at 9:41am

The ute is a one year old great wall v240 single cab.

ABayliss
By ABayliss | AA Expert | 2169 Posts | 28 April 2015 at 9:50am

OK, I'd think the amount being offered would cover the running cost on a vehicle such as this.

pierre77
By pierre77 | Community user | 3 Posts | 28 April 2015 at 9:59am

Thank you very much!