What should I do with my car allowance?
I have just accepted a new job that offers me approximately £450 a month Net car allowance with a fuel card on top. There is quite a bit of driving to be done around 20k a year so I need a new car really my 02 plate Vectra is probably not going to be up to the job for too long. I can't afford to buy a new car outright so what are my options?, my credit history isn't brilliant no CCJ's or anything like that though but probably wouldnt be able to get a bank loan for a car at the moment and the job does have a 6 month Probationary period too.
Asked By: Jamie B - 8/23/2011
Best Answer - Chosen by Asker
You CAN'T afford a new car PERIOD. Heavy driving will KILL the value of whatever you drive. The key is to drive the LEAST expensive vehicle that meets your needs. In your case, being reasonably comfortable on long drives and a decent appearance are actual needs. Drive your Vectra as long as you can, and save the... More
Answered By: STEVEN F - 8/23/2011
Additional Answers (1)
Look into leasing a car. Lots of companies lease to individuals these days, and it can be a very cost-effective way of driving if you do high mileages.
Answered By: Jon L - 8/23/2011
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