Let’s think through your options
Risk and liability. Burdensome administration. Unnecessary capital expenses. That’s just three areas where traditional company vehicle programs impact an organization. Enterprises of all sizes can benefit by switching to a vehicle reimbursement program, if it’s structured to meet the needs of both the company and the employees. That’s where we come in. CarData will consult with you to learn your business goals, construct and customize your VRP, and provide one-on-one guidance employees need to understand how a customized fixed and variable rate (FAVR) works.
Get All the Facts
Every business decision requires careful consideration of your options. We’ll help you understand the impact of each type of VRP
Companies tend to use the Flat Rate method for the simplicity of its administration. However, flat monthly rates fail to account for fluctuations in fuel prices, different regional costs and the differences in miles driven for each employee.
With company cars, the company assumes all responsibility and risk, and pays for all vehicle-related expenses including depreciation, license, insurance, maintenance, accidents and fuel.
The costs of owning and operating a vehicle are divided into fixed expenses, which are calculated as dollars-per-month, and variable expenses as cents-per-mile, amounts which are governed by the IRS procedures under the Accountable and FAVR plans.
“The online application is simple to use, and our employees love being able to have access through their mobile devices. This technology has made a big difference in terms of compliance. Employee buy-in was almost seamless, which in our industry is worth its weight in gold! Continue reading “Testimonial – Modern Technology” »
- Benefits Director, Beauty Industry
“Our company cars were costing us too much and they were getting older. We wanted a plan that was industry competitive and that produced some cost savings. Continue reading “Chief Financial Officer – Resource Industry” »
- Chief Financial Officer, Food Industry
“Placing our vehicle reimbursement program into the hands of CarData was one of the best decisions for our company. The modern technology and easy-to-use system that they offer is second to none. Continue reading “Testimonial – Driver Benefits” »
- Director Purchasing, Chemical Company
“Prior to switching to CarData for our vehicle reimbursement plan, we managed an in-house fleet program. However the practicality of the program began a steady decline not long ago, both in terms of costing and resource allocation. Continue reading “Testimonial – Company Car Fleet” »
- VP Human Resources, Housing Industry
“The vehicle reimbursement program we were using had our people moving in and out of compliance with IRS rules. Continue reading “Vice President Human Resources – Fortune 500 Company” »