Car allowance

Discussion in 'Pfizer' started by Anonymous, Feb 11, 2014 at 10:33 PM.

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  1. Anonymous

    Anonymous Guest

    Has anyone used car allowance option lately? What kind of car did you purchase to keep expenses down? Did you have to own car previously or can you purchase one once you choose the option? Thank you in advance.
     

  2. Anonymous

    Anonymous Guest

    It's not a good deal. I've done it for several years and can't break even. The monthly variable rate is supposedly tied to the average price of gas in your city, but their base line is consistently 40 to 50 cents lower than actual price per gallon. The monthly fixed portion is only paid at 5/7th their calculated rate to operate a car - being that it would be used for work purposes 5 of 7 days per week. Also consider that routine maintenance is on YOU. If you get into an accident, its on you. Need a rental car while its in the shop? It's on you.

    You can use any car that is no more than 4 model years old, has 4 doors, not a convertible, and MSRP is less than $40K. There are few options out there fitting this criteria that I would choose to own. The ideal car would get at least 35 MPG and be a year or two old already (giving you 2-3 years to use) so you don't lose as much in depreciation.
     
  3. Anonymous

    Anonymous Guest

    I'm curious as well if you can break even. Read a post that says no.
     
  4. Anonymous

    Anonymous Guest

    I would definitely not do it again. I get paid 2/3 the government rate which means I ate about $4000. I wrote off the difference on my taxes, so this means the tax payers are helping to pay for my car.
     
  5. Anonymous

    Anonymous Guest



    The max MSRP is now $45K, and the car can now be up to five years old. When you take into consideration that you pay nearly $200/month for you and your spouse to drive the company vehicle, I believe the allowance is a good option. i figure I break even, but I purchased a very nice car. if my car breaks down or gets in an accident, I won't be breaking even any longer.

    Also, to answer the OP's question, once you opt in to the car allowance option, they give you about two weeks to buy or lease a car. if you already own a car that fits the criteria, you can enroll that car.
     
  6. Anonymous

    Anonymous Guest

    I've worked the number every which way, car allowance is not worth it!
     
  7. Anonymous

    Anonymous Guest

    The allowance AND gas reimbursement covers my car payment and a tank if gas. The fee I would pay for fleet I figured would pay anyways so covers my car insurance. So assuming nothing happens to my car I will pay roughly 3 tanks of gas a month plus maintenance so yes about 4000 per year sounds accurate.
     
  8. Anonymous

    Anonymous Guest

    Not sure what other person is talking about.
    When you have company car I think you pay $160 Month, I now have a car for $300 a month and pay $250 for gas a month. They send me about $600 a month + remember I am no longer paying $160 a month. So I got a $210 raise per month and I drive the car I want.

    Saying that, when Pfizer cuts me cause I sell Celebrex I am stuck with a car. But At least I will have a car to drive to my interviews
     
  9. Anonymous

    Anonymous Guest

    Depends on how many miles you drive. In a rural territory it pays.
     
  10. Anonymous

    Anonymous Guest

    Lets not forget insurance and maintenance, so maybe that raise may bot be as generous as you say? It maybe that you are actually paying out of pocket if you are being honest with yourself.
     
  11. Anonymous

    Anonymous Guest

    Thfederal government says you should be paid .56 per mile. I average about .35 per mile (this includes the fix and flexible amount they pay). It is not a good deal. Extra maintenance, rental car when your car is in the shop etc is on you! Yes, you get a car at the end, but who wants a really high mileage car.