Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Insurance
Finance Discussion Forum

 Insurance refusing to pay?
I got into an accident a month ago and got the police report which indicated that it was the other parties fault. Now the insurance company of the person who hit me is refusing to pay and says its 50-...


 Do people work to get paid?
thats a topic given to me and i have to persent in my class so need some ideas....plz ...


 What would you do if a friend/relative made a false claim?
What would you do if you knew (or had strong suspicions) that one of your friends or relatives was making a false or staged insurance claim? Would you report it to their insurer, or would you be ...


 This number keeps ringing me 0161 876 4744, any idea what it is cos they always hang up when i answer?
...


 Who needs insurance - rich or poor?
Who really needs life insurance Rich or Poor people ? Poor cannot afford it and do rich require?...


 If a neighbor's tree falls halfway into my yard and breaks my fence, and other damage, whos Insurance pays?
...


 If I could leave you with just one thought?
What would you like it to be?...


 Wher does the money you pay into unemployment go if you never file a claim?
...


 Do I need life insurance? (I am 24 single with nest egg)?
I am starting a new job which offers life insurance. For $30 a month I can get a decent policy. However, I have no one to name as beneficiary - my family has plenty of money and there is enough in ...


 I broken my nose at my friend house and he has house insurance hoe much should i get?
i broken my nose at my friend house it cause me to get two blackened eyes,a scare on my forehead and my nose, and it also caused me to crack two of my teeth and he has house insurance worth $300,00 ...


 Is it true about how you can avoid paying car insurance?
I was once told by one of my professors that the law allows you to not pay car insurance as long as you have a certain amount of money on reserve for paying the cost of the accident (if the judge ...


 My insurance got cancelled without them telling me. now i got stopped by police. what will happen to me?
I got stopped by police, and they told me i had no insurance, i was shocked, because i genually thowt i had insurance, but they said my insurance company cancelled my policy. now i didnt get no ...


 How to say no to an insurance agent?
So I spent a few hours with this life insurance agent last weekend discussing various options and she gave me lots of term and whole quotes and paperwork to take home. Did the same with an equally ...


 What is your favourite fruit smell?
...


 I'm 21 years old and thinking about buying life insurance?
should i buy life insurance or shouldn't and ...


 Looking for car insurance company?
i'm not us citizen, right now i'm still using my international license drive and my green card still on process. from the country i come, there's no 'driving history'. i need ...


 How can i get help on medical bills? have no insuracne.?
there telling me its going to collections even thou i send something every month, going thru divorce and have nothing got 6000$ in medical bills...there gonna ruin my credit. now they want 20% down. ...


 Can a condo association force its owners to remove barbeque pits from their balconies?
I own a condo in Louisiana. I was recently informed by the office manager that all the owners may be forced to remove their barbeque pits from their balconies due to insurance requirements. There ...


 No insurance on car. Can I drive it on my insurance policy?
I have just bought a new car and have a fully comprehensive insurance policy. I still have my old car and intend to sell in very soon. I have cancelled the insurance policy for this car as of today.<...


 Does a 1 year old child needs life insurance?
I f he needs life insurance, which is a better pick, a term life insurance or a participating whole life insurance since premiums are very cheap and he can have her plans paid up in a short period of ...



Andy M
Do I have a legal right to a company car?
After having a company car for 6 years they want to stop me having one and give me an allowance instead which relates to a substantial pay cut ( the allowance will not allow me to have a similar spec vehicle )and leaves me without a car.
Additional Details
Just to confirm..I have to use the car as part of my job, not just getting to and from work. The spec is irrelevant really, If you r boss wanted you to take a pay cut , I presume you wouldn't be happy! thanks for the sensible responses.
                     
 




ernesto_tig
Unfortunately no ..

All these people busting your chops have obviously never had a car oriented job. I've been a road warrior for a company and if you're driving more than 20K miles per year I don't see how getting an allowance is equitable. Figure your private car is depreciating faster than you're driving. Unless you buy a old Taurus and drive it to a million miles, you're coming out with a pay cut.

I'd chat with your employer then update my resume'.

As far as these other haters posting here .. every time somebody gets a pay cut or loss of benefits everyone else says suck-it-up..that's life..now your just like the rest of us.. You've been fed a steady line of corporate crap your whole lives, every time I check Wall Street news it's about record earnings and corporate excess. Now some working schmo losses benefits and all you have to say is too bad? That's a load and every time someone shrugs and takes it we all go a little more down hill. So what if he drives a company car? Does this mean his company owner will have to settle for the 6000 sq ft house instead of the 7500? You're a bunch of corporate tools!


excelcarpet
Only if you have a legal contract that states the company will provide you with a car.


welcome news
You do NOT have a legal right in law to a company car HOWEVER you should check your contract of employment. If that contract states that a company car will be provided then your employers are trying to amend your contract and you could be able to claim 'breach of contract' and damages.

Please note that if a company car is provided then your tax code may have been reduced to take into account 'benefit in kind' and if the benefit is withdrawn then your tax code may increase and you pay less tax.


jimobasa
Rating
A company car is usually a perk of the job and can be withdrawn at any time - just as in a retail environment, staff discount can be reduced or withdrawn. If you have union representation, go to your union. You only have a case if it is impossible to perform your normal work duties without a car.


regerugged
No, you don't have a legal right. If you are not happy with the deal, seek employment elsewhere.


Just Me
Rating
LOL!!!!!!

Of course you don't. If you don't like the terms of your employment, get a different job. No one nailed your feet to the floor.

Some people.....


jingles
What does your contract say? And by the way, a company car is a perk most of the world doesn't have, I doubt if you'll get much sympathy from anybody about the loss of the car.


jamand
You have NO RIGHTS to a company car -


acermill
Rating
I am looking for my miniature violin so I can play for you a very miniature sympathy tune. Of course you have no right to a company car. It's a perk which you were able to enjoy for six years, and now they are taking away that perk.

The days of company cars are coming to an end. Most corporations are approaching employee travel the way your company is NOW. Bite the bullet and buy or lease a car and continue on with your job.


weeleesie
Rating
you mean you'll have to buy a lower spec car?? Poor you!!


mamatohaley+1
Rating
At my company they pull people from the field all the time and take away their company car. You get a 1 time pay out but other than that you are out of luck. They are within their rights.


Flixy
Rating
Check your employment contract and see it says, it is probably something you would be expected to renegotiate with the company each time your contract was up for renewal and they will probably have a clause in there saying that they can take the car if you and pay you a travel allowance instead if they want.


Common Sense
I've done both ways. The company car is better than being paid for miles. It's legal (what they're doing). It's your "right" to find another job.


zippythejessi
Rating
ONLY if it's in writing in your contract. If it's not written anywhere, you're kind of out of luck.


jayjay
I think you have received some fairly good answers. Generally the answer is no. However, you should check your employment contract (if you have one). The only other area I can think of is whether you are being singled out in any way. If so, perhaps there is something there to think about.


ynot_chas
OMG you mean you will have to buy yourself a car with your own money what nerve they have. be lucky there are people out there that don't have a car or a job...


Palomino
This is a variation to your employment contract, although a company can make a change, they have to give you notice, but no company "has" to give you a vehicle unless it is specialised work tool.

However, have you taken into account all of the tax benefits of giving up your company car and are you sure that you will be worse off. For example

How much are you paying in tax for your company car currently (P11D value of current car at CO2 emissions tax rate at your tax rate eg, car at value of £20000, with a taxable emissions of 24% and you are a higher rate tax payer will mean that you are paying £160 per month - your salary will increase by this amount)

How much allowance are you going to get? £300 per month gross has to have your tax taken out so you are left with about £180

Then you have to account for business miles, if you have a fuel card currently then you are being taxed on this if you are given your private mileage (unless you pay a contribution to private miles or get reimbursed for miles done). If you don't keep your fuelcard and get paid a pence per mile, the inland revenue currently allows you to claim back up to 40pence per mile for the first 10000 business miles and 25pence for anything over the 10000miles. Your car should not cost this much for fuel and if you don't get the full amount you will be able to apply for a rebate or re-coding of your tax code to your benefit.

So already you would have about 340 to spend, plus you would be making on the fuel, unless you are driving something flash and lapping the world, it doesn't sound so bad???? If anything if you aren't able to get the same level of car by doing this, then you could always go back and ask them for more money and for them to justify it.
Check out the calculations at
http://cccfcalculator.inlandrevenue.gov.uk/CCF0.aspx

Companies generally do this exercise on a "cost neutral" basis, so they take into account what you have now and what you would then be able to afford. They also have a health and safety liability, to ensure that the vehicle that you are using is safe for work and suitable for the job that you do.

Many people automatically assume that they are worse off by giving their company car back - make sure that you have all the facts before you dispute it.


ca_surveyor
You must be kidding?

1) Its their car, they supply it to you just like a desk or a chair or any other accessory in the office.

2) Presumeably it is used only for business . You letter implies that, since you have no other car, you have been using a company car for personal business. It is very rare for a company to do that knowingly considering the liability issues that attach with such permission.

3) If you feel you need better car then, just like any other employee, you take that up with your supervisor or manager. If they agree then you get it.. if they don't then you settle for what the company gives you - if it impacts the level of your work you then document it so that you can demonstrate the need for a better car.

4) As for a personal car.. considering you have had a free car for your employment period, you should have banked the money that you would have spent (or a portion of it) knowing that it was inevitable that someday you would no longer have a company car. Poor planning....

Sorry to sound so hard, but welcome to the real world ...

.


luddite
Rating
No one has the right to have car, company or otherwise.
Your company is compensating you for withdrawing the car. I'm sorry you can't have a flash motor anymore. Poor you having to downsize, why don't you sue them for violating your human rights.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.034
Copyright (c) 2011 Financial Crisis Sunday, May 27, 2012 - Terms of use - Privacy Policy