Home Forums Hunting & Shooting Hunter's Campfire Company Car vs. Mileage Reimbursement???

If you have a serious accident, and the damages out pace your coverages, YOU will be liable for what is left over after the insurance quits paying (if they pay)not the company. With the cost of care today, that could very likely cause bankruptcy for the most average joe.

The job is with an insurance company so I would imagine the coverage is decent! Hope so.

I would take a company car and drive the hell out of it.

But if you drive a small fuel efficient car take the mileage. If you drive a truck use theirs.

to me it boils down to this
1. can you use it on personal use?
2. what are the insurance limits/rqmts?
3. Need to put pencil to paper with the exact car you would get from the company vs the exact car you would personally buy (mileage, insurance, etc).
4. Can other people drive the company car (wife?).

Until you figure all that out, it is purely conjecture. I had the option of driving a company vehicle vs the IRS mileage and in my situation, the IRS mileage was always better.

1. New company. Yes I can drive it for personal use and personal gas is also paid for by the company.
2. The new company pays insurance. My current company I pay insurance
3. I get choice of cars. Impala, fusion, taurus, or escape. I currently drive a personal Toyota matrix for my current company
4. Not sure about other people driving it.

Back when I was working for the Arkansas Highway Department, some of us took our work truck home on the weekends and went directly to the job instead of going to the office on Mondays directly home on Fridays. Any day that I did not have an overnight stay in a Motel I had to pay income tax on what the IRS considered the worth of me driving the truck to the job and home. That was just for the ones considered management and not the peons that drove a company truck. I also had to fill out a form for when I used it for overnight travel or it came out of my check automatically. miles

1. the fact they pay your personal fuel may sway it the way of a company car.
2. they pay insurance, but it is your personal insurance or their insurance? And what are the liability maximums and who pays beyond that. Cant put that on the ledger, but it is something to consider.
3. seems like good vehicles. do you like them? that is important. how about a truck, do you need one? will you own one anyway (and be paying insurance, registration, etc).
4. prolly should see what happens if your wife (assuming you have one) gets into an accident as the driver. My step mother has a company car and my dad cant drive it at all. Dont want to risk your job over your wife getting in a fender bender while getting a gallon of milk.

just my thoughts, hope something in there may have given you some little bit of value.

I currently own a truck for camp and hauling stuff, a car for work (I'm currently paid mileage), and my wife owns a car. I would sell my car, and keep my truck and her car.

I did the mileage reimbursement what my fortune 500 company gave me wouldn't pay for fuel and oil changes I did myself. If it was such a great deal every company in America would force you to take the company car. Only high execs had the cars it was a perk.

Just wondering who has taken the mileage route for a while. I can see that I make $50-$300/month with the mileage reimbursement depending on how much i drive that month and that will be much more once the car is paid off in two years at $300/month. But at that point ill be nearing 200k miles when things may start going wrong with the car and or need a new car shortly. In the long run, through the life of car being paid mileage, do you really make out ahead?

The money made in the previous post is after deducting insurance costs, tires, gas, oil changes, etc.

Common Core math?

I've had a company car for nearly 15 years. Gas, insurance and maintenance all paid for by the company. I am responsible for tracking personal miles and reporting it which hits as income. But it's all up to me.....
No hassles like I would guess you are going through trying to track and get reimbursed. I'd go company car every, it's a great benefit. Gas prices can go up and down, doesn't bother me a bit....drives my wife crazy when I ask her what the gas prices are

Dont know but can't you write off depreciation on the car as a business expense also?

I'd take the company car. Get a Taurus if you can.

Check on whether the insurance is covered for your spouse to drive, etc. and what the limits are. Then I'd talk with your agent to make sure you're good for any umbrella coverage requirements, etc. if applicable.

I get reimbursed for my mileage but can rent if I want. I rent if going more than a few hundred miles, but the hassle or renting for shorter trips isn't worth it to me. I end up a wash, but I'm driving a truck.

I've primarily had Taurus' and Explorers...I'd recommend either one.

I'd second this idea. I had a part time job several years back that required a lot of travel. No long trips, but 100 miles/day running around to several nearby towns was common. I was reimbursed for mileage and meals. It wasn't worth it driving my truck. But after I bought a 15 year old Honda for $1000 I earned more every day in expenses than I was paid in salary. Used that car for 2 years and never spent a dime on it in repairs. Just gas and oil, sold it for $700 after the job played out.

If I had an older (pretty much depreciated) car, I'd take the $0.55 per mile and pile the miles on my own car - and pocket the profit. If the car were new, I save the wear and tear and take the company car.

Company Car route takes out the unknown things that always happen.Flat tires,hit and run dents,major repairs,etc.Having had it both ways,I like them to take the risks.
If you buy a car for them and lose your job,you are stuck with a car.

That's a no brainer. A car "company" car to use as your own is far more valuable than any "mileage". Like NathanL stated, it's pretty much a given around here.