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I currently own outright a 13 plate 520d touring with about 55k on the clock. I’ve been offered a company car which is a Volvo V60, or a car allowance of £500 and to keep my car. I reckon my car is worth about £11k.
I’m totally torn between the two. I don’t know if the Volvo is as spacious as the BMW? Can anyone comment on what the new V60 is like? I don’t know what spec/trim it is, I assume D3.
Do I keep my car or take the Volvo? Any advice or comments would be welcome.
Car you own +£500 a month, plus I assume fuel?
That's an easy one - keep the BMW, surely.
I'd rather have a 6 year old 5 series and £500/month in the bank than a Volvo.
I love a Volvo, and not so keen on BMW, but if I had the choice I would stick with what you have - sounds like a blinding deal. Put £200 a month away for the bills, save the rest and go to Disney land.
I looked at the V60 (and XC60) last year and ended up getting a 530d Touring.
Volvos are nicely styled inside but it worked out more expensive for a 2 litre Volvo than a 3 litre BMW.
Volvo are trying to compete with the German brands but aren't quite there yet and the examples i looked at cost more, i'm guessing due to heavier depreciation.
Questionable rear styling, a vanilla driving experience, OTT nannying sytems and the touch screen certainly didn't impress.
A year on and i don't regret the decision at all. I admire the latest Volvos but can't help feeling that they are aimed at people who don't like driving.
The v90 is the 5 series/e class rival, a v60 is more 3series/c class in size.
The v90 is stunning but very overpriced.
I would stick with what you have, mind tax comes off the 500as it is seen as income but you do save on co car tax.
I did this calculation over my last e class and ended up buying a 4 year old passat outright.
Oops it was the V90 i was referring to - apologies.
As stevemuzzy says they are not comparable. The v60 would be considerably smaller than your 5...
My boss had a 520d. After the lease ran out he got a new V90 and loved it... but stopped leasing and bought 15 plate 530d touring on NRFLT based on very similar financial terms to you and says it’s the best decision he made.
WTF is NRFLT?
Non run flat tyres ?
Yes that’s right.
No age/mileage/CO2 limit on the car allowance option? I’ve seen various restrictions at places I’ve worked to ensure people don’t just pocket the money and run about in an old shed. Changes things a bit if you have a deadline looming to get into a younger car.
https://comcar.co.uk/ has a calculator for bik, etc but when I was last offered a company car the main thing that would have swung it was insurance - if you pay a lot then going on a company policy can save a lot. Plus if you’re travelling a lot and parking in dodgy places then you don’t have to worry so much in a company car.
Depends on how much driving you are doing - any more than 25k per year and I would be going for the company car.
Take £500/month. Sell current car. Buy 17/18 plate V60 Polestar. Be happy.