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Discover how to get the most out of your fully depreciated commercial vehicle, tax-efficiently and without worries. Request your free valuation now.
You depreciate a company car for tax purposes over a certain period, often 4 to 5 years. Once that period is over, the vehicle is on the books at 0 euros. That doesn't mean the car is worthless. The market value can still be quite good, especially for well-maintained vans.
Many self-employed professionals think they should keep their depreciated car until it's worn out. But that's not always the smartest choice. By selling now, you avoid further costs and still get a nice return, money you can immediately invest in your business.
Selling a fully depreciated company car involves a few tax rules. Because the book value is zero, the entire sale price is a capital gain. That gain is taxable. For a sole proprietorship, you pay personal income tax on it; for a company, corporate income tax. The exact rate depends on your status.
Selling from your company to a private individual? Then you must in principle charge VAT. Sometimes you can apply the VAT exemption scheme for small businesses, but usually you'll have to charge 21% VAT on the sale price. Selling to a recognized car dealer allows you to use the margin scheme, which reduces the VAT burden.
For sole proprietorships, the sale of the company car usually falls under the normal management of private assets and is therefore not taxed as professional income, unless you used the car more than 50% for business purposes. Be sure to consult your accountant for tailored advice.
You have several options to sell your company car:
Especially if your car is still in good condition, a buyer can offer an attractive price. Moreover, you save the costs and hassle of a private sale.
From experience, we notice that demand for second-hand company cars peaks in spring. Many companies renew their fleets then and buyers are looking for extra stock. In April, the number of sales is on average 1.7 times higher than in March. So it's precisely in that period that you can benefit from a favorable market.
Some entrepreneurs choose to transfer the depreciated company car to their private assets instead of selling it. That can be interesting if you still want to use the car yourself. The transfer price must be market-based, otherwise you risk a tax adjustment. From a company, you then pay personal income tax on the benefit in kind, unless you actually buy the car. VAT also plays a role here: the transfer is in principle subject to VAT. Get proper advice from a tax specialist before taking this step.
When to sell?
Not every moment is equally suitable. Discover when it's best to sell.
You want to invest in a newer model and your old van is just gathering dust. Sell now and use the proceeds as a down payment.
As a self-employed professional, your situation can change. Maybe you no longer need the company car and selling is the logical step.
Want to know more?
When you sell a company car as a self-employed person or company, VAT rules are one of the first things to consider. In principle, you are required to charge 21% VAT on the sale price. This also applies if the car is fully depreciated for tax purposes.
If you sell to a private individual, that obligation does not change. The private individual pays the VAT on top of the agreed amount and cannot recover it. As the seller, you remit the VAT properly through your VAT return. Unlike a sale to another VAT-liable party, the private individual cannot deduct the VAT. That makes the total price for the buyer inclusive of VAT.
If you sell for export, for example to a dealer in the Netherlands or France, the supply may be exempt from VAT under certain conditions. You must then be able to demonstrate that the car physically crosses the border and that the buyer has a valid VAT number. Without correct documentation, you remain liable for VAT. Our buyers are familiar with these procedures and can guide you. Request a free valuation for personal advice.
Whether you are in the center of Antwerp or the rural surroundings of Liège, we make the sale just as easy. We are locally active and know the market in your region. Discover in which regions we buy company cars.
Have the value of your company car appraised for free. Our experts are ready to help you with a smooth, fiscally correct sale. Don't wait until March is over; demand rises especially in April, so you benefit optimally.
A depreciated car still costs money: insurance, road tax, maintenance. By selling, you stop those expenses.
In spring (April-May), demand for second-hand company cars rises. That's when you often get a better price.
