By securing fleet-style discounts the Cash for Car Club claims it can deliver competitive prices to ex-company car drivers. The scheme is similar to the used car sales locator Auto Online which went in to receivership in December 2001 after running out of funds.
Despite operating a “no sales success, no fee” system, inside sources said few dealers signed up to the service. Nick Moger, founder of the Cash For Car Club dismisses the Auto Online comparison, saying: “We have all the makes in place and dealers that will deliver as far afield as we want.”
He says one of the club's aims is to demystify the confusion surrounding the new company car tax laws. “Many drivers don't know where they stand when it comes to giving up their car and choosing an alternative,” he says.
Customers contemplating opting out of company cars are invited to log on to cash4carclub.com and use the personal tax calculator to work out if they will be better off taking the cash option. Drivers will also have access to a range of discounted motoring services.