Benefits of a car registered under a company?

[Drive]

Hi

I understand that some people change cars like nothing, and also understand that these people registered the cars under their company. I myself don't own any company, so was wondering how this works. Anyone care to explain? Tks.

[Acemundo]

usually more applicable for vans, pickups or minivans.

 

any passenger car under company ownership doesn't reap additional benefits.

[Drive]

Can these people put their cars purchases under their companies' expenses? With this, maybe they get to try & enjoy different new cars once in a while.

[Acemundo]

nope.as far as iras are concerned, even u put under company, pte car expenses not allowed for tax deduction. so like i say, no tangible benefits. the only thing is that if want to default on the car loan, easier than individuals....

 

cos individual kena repossessed car, become undischarged bankrupt, still must pay whatever salary earned to the OA to clear the debts.

 

but for companies, repossessed car liao, just wind down company, slap slap backside and walk off

Edited February 28, 2006 by Acemundo

[Diesel]

If u r referring to those "Q" plate ones i think no much benefits to speak of as far as i know....

 

But "G" plates many many benefits!

[Vit4wd]

G Plate can park for free at Loading and Unloading bay

[Diesel]

must " Ar-Ka-Liao" with the security guards... anyway i usually park normal carparks & pay... no point saving a few cents/dollars and risk my van's safety...

[3rdparty]

Sorry TS I'm not able to post a new topic as I'm new, borrow your topic can?

[Galantspeedz]

Sorry TS I'm not able to post a new topic as I'm new, borrow your topic can?

 

after 4yrs?

 

 

[Orangepineapple]

bro dug out an almost 5 years old thread

[3rdparty]

after 4yrs?

 

Just wish to have some help from here. Any kind soul know if I will to use a company to buy a pte car will there be any lost in the car value ? e.g Parf or others.Thanks.

[Beehive3783]

Just wish to have some help from here. Any kind soul know if I will to use a company to buy a pte car will there be any lost in the car value ? e.g Parf or others.Thanks.

1800-CALL-LTA

[Iisterry]

Just wish to have some help from here. Any kind soul know if I will to use a company to buy a pte car will there be any lost in the car value ? e.g Parf or others.Thanks.

 

No.

 

There is another point that most are unaware of. Company owned P-Plate car's insurance is cheaper in some cases as certain insurers do not require you to declare a named driver. You still clock up to the max of 50% NCD, however your driving experience becomes a moot factor.

 

Especially true for Young & Inexperience drivers.

[GLZT]

No.

 

There is another point that most are unaware of. Company owned P-Plate car's insurance is cheaper in some cases as certain insurers do not require you to declare a named driver. You still clock up to the max of 50% NCD, however your driving experience becomes a moot factor.

 

Especially true for Young & Inexperience drivers.

 

How to clock NCD when no one is named driver? I though NCD follow driver? Or for the owner?

[Iisterry]

Follows owner, the company in this case. You accumulate at standard rate. The only main factor is car make/model and the company activities.

[3rdparty]

No.

 

There is another point that most are unaware of. Company owned P-Plate car's insurance is cheaper in some cases as certain insurers do not require you to declare a named driver. You still clock up to the max of 50% NCD, however your driving experience becomes a moot factor.

 

Especially true for Young & Inexperience drivers.

 

 

Thank U ,Thank U ,Thank U

[Vhtfhwlego]

after 4yrs?

This is the way you welcome newbies?

You should welcome him by saying this thread is yours .

[Vhtfhwlego]

Welcome to the forum.