FOR THE DRIVER
Technology and convenience hallmark a CarData Vehicle Reimbursement Program (VRP). Solutions developed by CarData are built upon a SaaS platform, Software as a Service. This “cloud computing” platform provides accessibility to all users from any location, mileage can be entered and approved remotely by smartphone and tablet devices. More driver benefits are outlined below:
An IRS compliant vehicle reimbursement program is non-taxable. This means payments to the drivers do not incur standard income taxes, and the full reimbursement goes directly into the hands of employees. This maximizes the value of each dollar given to a driver in order to acquire, operate, and maintain their vehicle.
Gas Prices in their Territory
The most immediate satisfaction with a VRP (Vehicle Reimbursement Plan), or cause for dissatisfaction, occurs when Drivers fill up their cars at the gas pump. Every day the price of gas is different, every day their dollars buy more or less fuel. CarData knows this and recognizes how important it is to be transparent to Drivers. Each month the new monthly cents-per-mile rate for their territory is displayed in CarData Online. The cents-per-mile rate is the average of the daily fuel prices for each city in their territory for every day of the month.
The flexibility of vehicle choice allows options which suit a driver’s family and lifestyle, while remaining within corporate policy. For some drivers this means a minivan with family console and entertainment options, for others it allows the usage of a sport utility vehicle with tow capabilities and an upgraded sound system. Not only does this increase employee satisfaction, allowing them to utilize the vehicle they need most, but it also removes the liability which arises from company provided vehicles.
Precise and Accurate
A schedule is developed for each driver and their corresponding territory. This schedule incorporates local variations in taxes, license, insurance, depreciation, and fuel expenses. Drivers are also assigned a mileage band which in combination with other data, produces precision reimbursement amounts, to a zip level. While adhering to company policy and guidelines, drivers are able to be confident that their unique expense profile will be covered by their reimbursement.
Driver mileage and reimbursement data is stored in CarData Online — business mileage, personal mileage, odometer readings — everything a Driver needs to substantiate their activities if the need arises.