Fleet News

Survey reveals company car thresholds

THE typical salary at which a company car is provided is £32,500 and the business mileage threshold is about 10,000 miles, according to Monks Partnership.

The employee benefits specialist's Company Car UK 2002 report also revealed that only 24% of firms now outright purchase their fleet vehicles, down from 27% last year, while contract hire accounts for 47%.

The report, based on interviews with 174 firms covering 113,801 cars, showed that 62% of firms control fuel costs using fuel cards, up from 60% last year, but only 25% of firms have a full-time fleet manager.

The size of cash allowances in lieu of a company car varies, starting at an average of £4,355 for minimum status cars, rising to an average of £5,702 for middle managers, and £7,253 for senior managers. Directors receive £8,818 on average, but the figure differs by thousands of pounds depending on the size of the firm.

  • Company Car UK 2002 is available from Monks Partnership for £275. Call 01799 542222 for details.
  • Leave a comment for your chance to win £20 of John Lewis vouchers.

    Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

    Login to comment


    No comments have been made yet.

    Compare costs of your company cars

    Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

    What is your BIK car tax liability?

    The Fleet News car tax calculator lets you work out tax costs for both employer and employee