Company Car problems

[Aky208]

So I have had my company car for a little under 2 years now. The lease finishes at the 3 year point but I’m wondering if I can hand it back in exchange for a van early? Basically the BIK payments are now getting ridiculous and a change of personal circumstances would mean the money would be rather handy.

A colleague recently chose a van at the end of his lease and told me about the savings he was now making. As an added benefit the company pay him an extra £100 a month as an incentive to take a van over a car, which basically means he is £50 up each month after his bik payments.

I approached my management previously about handing the car back early and they consultated with the lease company about the penalty fee for early release. No decision was made but they seemed keen on the idea since the company would also save money (reduced lease payments and tax).

But now a reshuffle has happened and I have a new manager, I approached them about the possibility and they have flatly refused to entertain it. I have even suggested to pay towards the release fee and pass taking the extra £100 a month.

So BCF, do I have to just suck it up and swallow the costs until the lease is up?
or do I have any say in the matter?

TLDR: don’t want my company car anymore, want to give it back!

[MCN]

BIK is still a BIK coz the company pay running costs.

It is a no brainer.

Run your own car for a year and compare the 'personal' expeniture on servicing/tyres/wear and tear on the mechanicals/depreciation/insurance/road tax....

Or are you doing it wrong?
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Disclaimer: The comments above may be predicted text and not necessarily the opinion of MCN.

[Aky208]

BIK is much cheaper for a van than it is for an estate car though. Hence much savings of the green stuff.

The company just lease the vehicles with maintenance included in the contract, so their only expenditure is the monthly lease fee plus the companies side of my BIK. (Can’t remember what it’s called). Both of which are cheaper with a van over a car.

My issue is that won’t let me switch to a van early.

[janner_10]

My next choice will be a pick up for tax reasons.

Same flat BIK rate as a van.
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Yamaha FZS600 (Now gone to heaven) > CBR600F4i (SOLD) > '99 YZF-R1

[BTTD]