Company car vs. reimbursement

Which is better... and in what circumstances does the reimbursement make the most sense?

Any suggestions on makes/models of cars that are great and affordable if you go the reimbursement route?

 

The company car is by far the better option, even paying the 100-200 a month. i drive the hell out of mine, then get to turn it in for a brand new car.

 

Just keep in mind that as a new employee you might get a car with 60k on it and have to pay $200 a month. But at the end of the day your always ahead of the game with company car.

 

with tax law changes for 2018 most likely the company car is your best bet

 

If you're planning on using your car for Uber or some other business for hire, then it might be better to buy your own. Also, I'very been told they've lightened up on the rules and you can own a cheaper older reliable used car and the $ works out far in your favor. I'll be looking into it soon enough.

 

If you have a side gig. ie, Real Estate, you can claim miles and bring your 1099 income down. So the next comment will be that you will have to separate out miles, Real Estate / Pharma. This would be correct but there is now way the IRS would ever find out that you added miles to your Real Estate business that you took away from pharma. The IRS write off is .57 a mile so you can see an extra 10K/20K miles can really bring down your Real Estate Income and you will benefit greatly from it.

 

In addition if the company gives .20 a miles you can claim the .37 which will be a lot of reduction in 1099 income. This is a great deal and the way I would go.

 

if you get laid off you would be stuck with your lease

 

I wouldn't say stuck. At least you would have a car to drive. Also, a friend of mine found another position with a car allowance that was far above what Pfizer reimburses and she already had her leased vehicle. It's always good to own at least one vehicle for yourself and your family. Just as the comments said above, I would look at owning your car as a choice and offering other options than a forced base model vehicle that you pay a pretty good price for. The options for company cars that are given are great for single folks, not good for a family and they are really low quality.

 

Isn’t this a description of Pfizer in general?

 

So they don’t track us? A friend of mine just got shit canned at another company for that reason.

 

they track through the ipad

 

It's an awful choice at 200/month and the car has one speaker in the car. Horrible road noise for your hearing. It's costing you $, but you just don't want to admit it. You make plenty of money, have some respect for yourself and get a decent car! Seriously, do you feel good driving that altima or subaru. If you are broke, I get it, but you are just giving money away. Get your own car and use the money from the Motus program to pay down your debt.
Company cars are real real world stupidity. If you have pride, take that $200 you are paying Pfizer and use it for yourself to drive something decent. Remember, your back only ages as you drive and drive. Will Pfizer care about that? Some money out of pocket to keep yourself healthy it vital. Go all out, get that car that is truly amazing!! Stop being so logical. There is plenty of time to deal with that. Have some voice and have fun picking out a great car! You will be happy you did!

 

I don’t think this is accurate

 

does Pfizer give you the choice of a company car or car allowance?
If so what do they pay for allowance and miles?

 

Lost a dozen last week here. Caught by GPS.

 

youre the idiot driving the benz for work putting 25k a year on a luxury car. thanks for your dumbass financial advice. many people on cf have done the math, unlike you, and the clear-cut conclusion is that the cc, even with the $100-200/mo contribution, is by far the better value.

 

I rarely post but I will say this. Of all the Oncology/Pharm companies that I have worked for Pfizer by far has the worst car offerings and choices. The company car is much more beneficial with the high mileage territories, however, the car is low end no option uncomfortable etc. Most companies offer the option to get an upgraded vehicle for an additional fee if desired. I could not imagine ruining any car I purchased with the 40,000 miles a year I drive.

 

If pfizer wasn't so damn secretive about the reimbursement numbers, all of us wouldn't have to come to CF and speculate.

 

There’s no secret. The reimbursement is low. Your peers will all have a much nicer car than you which is not an issue if you’re not comparing yourself to others.

If you do the reimbursement — I suggest you don’t by new and get a small high mileage vehicle. The original MSRP when new should be no more than $21K and hopefully you’re getting it used for no more than $16K.