Work gave me a company vehicle!

I work in the motorsport segment of our company so it isnt really the most useful to me as I typically tow my Vette and show gear (tents etc) which I cant do with this thing.

I wish I could, the Carvana offer on my Dodge is $50k which blows my mind.

Anything I should be aware of with having a company car?

I literally go no information from HR other than here is the car, keys, gas card, and iPass. Its managed through emkay and they said I should get a packet. Its an older one from the fleet so its a 2018 with 40k on it. One of the other sales guys quit so I get it through the end of the year.



my turd dodge and track rat

Been driving company cars for over 20 years.

Check with your accountant on what the IRS considers taxable and non-taxable benefits.

My company has us fill out quarterly mileage forms, and we are charged for personal miles on the vehicles.  More specifically, personal miles are added as "income" subject to taxation.

How are repairs/maintenance handled?  If you have a fleet manager, find out what local shops accept your fleet management company.  Most national chains work with the larger fleet companies.

Your company also probably has an accident form, in case you have a crash.  Make sure you have a copy, or are at least familiar with it.

If you get stopped by a cop, ask for leniency because it's a company vehicle and your employer reviews driving records.  Even if you're driving your personal vehicle. It's actually surprisingly effective unless you were doing something really stupid.  

Don't do stupid shit with the gas card.  Don't be buying a 50-gallon fill up for your RV.

ETA: Call your insurance company and change the classification of your personal vehicle to pleasure, not driven to work or school.  Should knock down your premium a bit.  If your agent/rep asks why, tell them you have a company car and that should end the conversation.

And I've ALWAYS kept a personal vehicle.  I never wanted to be "tied" to my current employer because of the car.

+1 to all the above.  Just...  beware of your company culture.

A company vehicle as a sole vehicle may work, or it may not.  Very much depends.

FWIW - I much prefer a vehicle allowance added to my salary instead of a company provided vehicle.  However, this requires some math and negotiation on your part, as done wrong you'll end up very upside down.

That grand cherokee can tow that corvette/trailer easily.

Nice  I just got a 2021 grand cherokee as my company car. Not my first choice, but I’m not paying for it, so can’t be to upset.

I agree with the above, figure out how the personal miles are handled. I think my car ends up “costing” me about 5k a year in extra income based on a percentage of the vehicle lease comparable to the ratio of personal use versus company use. Now it does not really cost me 5k as that is just what is added as income, the real cost is just whatever the taxes are that I pay on that income.

The real cost to me is significantly less than gas, repairs, car payment, insurance on a new car and I get something new every 3 years.

I have a company vehicle with no restrictions as I do.a shit load of driving for work anyways.

ETA: I keep my personal vehicles incase things change though. They are paid for and get use weekly for dump runs and what not.

thanks, @intheburbs

Check with your accountant on what the IRS considers taxable and non-taxable benefits
- I still do my own taxes so this may have me go to an accountant. I am single, no kids, etc.

My company has us fill out quarterly mileage forms, and we are charged for personal miles on the vehicles.  More specifically, personal miles are added as "income" subject to taxation.
- I havent gotten anything yet, but I do know the gas card requires a mileage input each time. Having two cars (well normal cars) should help keep this down

How are repairs/maintenance handled?  If you have a fleet manager, find out what local shops accept your fleet management company.  Most national chains work with the larger fleet companies.
- Thankfully its all managed my EMKAY and I got an email that its overdue. Looks like all the local firestones and FCA dealers are accepted so it shouldnt be a problem at all based off the email and things that are local

Your company also probably has an accident form, in case you have a crash.  Make sure you have a copy, or are at least familiar with it.
- I sent an email to HR now asking for this, thanks!

If you get stopped by a cop, ask for leniency because it's a company vehicle and your employer reviews driving records.  Even if you're driving your personal vehicle. It's actually surprisingly effective unless you were doing something really stupid.  
- Noted!

Don't do stupid shit with the gas card.  Don't be buying a 50-gallon fill up for your RV.
- Yeah I bet seeing diesel fuel or race gas wouldnt help LOL

ETA: Call your insurance company and change the classification of your personal vehicle to pleasure, not driven to work or school.  Should knock down your premium a bit.  If your agent/rep asks why, tell them you have a company car and that should end the conversation.
- GREAT IDEA!!! My truck is paid for as well.

And I've ALWAYS kept a personal vehicle.  I never wanted to be "tied" to my current employer because of the car
- Great point, the value of trucks right now had me questioning it but I could maybe sell it and get a cheaper half ton

I'll put a hitch on it and try it out. For sure my truck is way overkill but I like diesel engines for fun as well.

my trailer is a POS that I am always repairing but I am cheap. It weighs about 1400, the car weighs 3100 with fuel, and another 200 in wheels/tires, not counting the couple hundred in tools/spares in the bed.

In my old company, company cars were all leased through GE Capital and nobody cared how you treated the cars.  I loaded 20 bags of manure in the back seat to fertilize my new lawn.  We abused the crap out of those old Tauruses (Tauri?).  I drove a Chevy Lumina through a (smallish) river in Mexico when I had to go see a customer just across the border.  

I may or may not have taken multiple company cars to the race track, too.  

Not that I recommend any of the above.

Don't do dumb shit in it and keep it clean.

Meaning, no hookers, sketchy areas, validate passengers, etc.

Use your personal car for all that.

Not if it's got the V6.... it'll do it but it won't be super happy about it.

You never know when a supervisor is going to want to hop in, or check it out so keep it clean for the most part.

Wear your seatbelt - getting a seatbelt ticket or car seat ticket in a company vehicle is super no bueno.

Figure out what is paid for, and where you can take it. Sometimes we use the wifes company car for in state trips (its a big state), as it is all expensed paid by the her company for it.

Is that Mid-Ohio?

This is all great advise. Only thing I would add is to check if personal business is even allowed in your company car. I’ve had jobs where it was not only allowed but encouraged so I could respond quicker if needed. Current job is only work related activities.

However, until recently they didn’t have any kind of training program to let people know what was and wasn’t allowed. I ran into one of our guys at the range in his work truck and was like, “You know this is a bug no-no, right?”

He responded with a “Wait… what??”

He’s relatively new to the company but a solid guy and genuinely had no idea. I tracking it down and literally everyone who could have trained him the do’s and don’t’s thought someone else was supposed to train people on that.

Not his fault… our fault. But just make sure. They have to have a written policy somewhere so ask for it.

The company deducts from my check each week for personal use to avoid IRS issues. The amount is insignificant compared to purchasing a comparable truck, fuel, insurance, maintenance, etc... It’s a nice perk although I don’t use it much for personal use, after spending 10-12 hours a day on the road I don’t have any interest in going back out once I get home.

Depending on how big/strict your company is, they may have an electronic nanny/tracker on it.

That you work in the motorsports segment of your company it might not be it a thing but...

Gingerman in South Haven, Michigan but I will be at Mid-Ohio 8/6-8/8 @mugzilla

All good advice.

Only thing I would add is keep work and personal business separate even if the company says it’s ok.

Grabbing a cup of coffee, meal or small errand while working or on the way to work or somewhere for work ok.

Driving it around town for non business purposes like personal errands that are not on the route your taking for work reasons… I wouldn’t do it even if the company said go ahead.

Dash cam, get one like yesterday.

Depends on your company policies which can vary greatly by company.

Here we have decaled vehicles for field employees.  They are driven from and to home each day.  Strictly business use only, you will be terminated for personal use, violating driver policy, etc. Company pays for fuel, tolls, service, insurance.

We also have non-decaled vehicles if you fit certain criteria.  I believe there is an option with those to where you can pay like $200/month and use the car for anything you want, company pays fuel and insurance. But as mentioned above,  you have to factor in Mr IRS.

Don't know about your place but at a previous employer they could track the vehicle via GPS.

Just so you know.

No. Even if it had a V8.

Agree on the allowance.......negotiate a monthly amount call it $600 -$800 whatever....insist on the full IRS amount for mileage not 50% or some other partial %.

A company car that they provide allows them to track it so assume they will know whenever it is moved and act accordingly.

I had a pos Trailblazer as a company car with my previous employer.  I used my own car for personal use after hours and on weekends.  I had a gas card and had to enter mileage at the pump.  If I bought diesel or gas for something else ( rented man lift or power equipment, I entered the mileage as 999999.  I did check with accounting before doing it the first time.

I was lucky and had a preferred grocery store on the most direct route between work and home.  I’d stop there sometimes to pick up groceries or lunch for the day but that’s about it.  I never used it for personal use besides that.  It was not tracked with GPS.  Our corporate safety guy loved speeding so a minor speeding infraction was anything exceeding 20 miles above the speed limit.  Lol.

I was on call 24/7 and had to respond even if the weather was horrendous.   Vehicle had 4wd.  Nothing was tracked or reported to IRS since I didn’t use it for off-route personal use anyway.

I did save insurance money by dropping the annual estimated mileage on my POV to 5,000.  USAA told me a weave annual mileage for males my age was 19,000 and asked by I reduced by such a large margin.  They were satisfied when I told them I now had a company vehicle.

whats interesting the book shows it as being able to tow 6,200 pounds but with only a 350lb tongue weight.

while my tetanus trailer and vette weigh below that I dont think i could get the tongue weight that low without it being sketchy

Looks like the V8 ones can do 7,200 and 500 respectively.

Well, even if I only use the truck when I have to this will be helpful.