BLUEMOMENT

Nah

Go for the company car

Not that much in cost, but pays the difference in the complete absence of worries.

If it breaks down, another appears as if by magic

You don't get bills for repairs

You don't worry about parking in iffy areas

You don't need to argue with insurance companies

You find company cars rev to about 1000rpm more than ordinary ones

You always win any "I dare you" situation

You don't care how much it depreciates

You never need to wash it

You don't have palpitations if someone scrapes the paint.

You don't have to haggle with salesmen when you want rid of it

No brainer really.

You say you will actually be out and about so the company car is tops. All been said above. If you were just an occasional user but justified, then a cheapo banger could be the way, unless company image comes in as well. I made squiggabucks with an old toyota years ago, but had to park well away from the main entrances...

We pay 40p per mile for my car which is Diesel Volvo.

I have to pay the additional premium for business risk insurance

.
It depends on if they are going to give you a car you want. As others have said, there is nore money to be made from running around in your own old banger, but more potential hassle as well.

We use out own car for company biz as Webcraft can;t afford to provide us with one (or at least, not one I woujld be prepared to drive )

So you are about to become a wage slave again then?