Company cars will often form part of a benefits package offered by an employer. They can be very useful for both the employer and employee, so many companies now offer them. However, there is a lot to think about if you’ve been offered a company car. Here are some key considerations:

1. Do you own a car already? In most cases, people will sell their own car once they have a company car. This can be a bit more tricky if you are currently paying off car finance, or you’re not going to be in the role for very long. Discuss this with your employer, as there might be other options such as a car allowance.
2. Will you like driving the new car? Ask if you can test drive it first. Many companies have a car pool or will get a new car especially for you, so if you really dislike a particular model there may be the chance to negotiate.
3. Do you share a car with a family member? Again, this could cause some problems if you regularly share your vehicle. Talk this through with your employer to find out about flexibility.
4. Will it really save you money? On the surface, having a company car would definitely appear to save you money. However, bear in mind that it is a taxable benefit, so you will be paying out extra money in tax. Fuel and maintenance should be paid for though, so it may still work out in your favour financially. Work through the numbers and take everything into consideration.