1. Welcome to Tundras.com!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tundra discussion topics
    • Transfer over your build thread from a different forum to this one
    • Communicate privately with other Tundra owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

Company Truck or Truck Allowance

Discussion in 'Off-Topic Discussion' started by Eborseti22, Jan 19, 2023.

?

Company truck or truck Allowance?

  1. Company truck

    24 vote(s)
    75.0%
  2. $750 Allowance

    8 vote(s)
    25.0%
  1. Jan 20, 2023 at 5:48 AM
    #91
    blanchard7684

    blanchard7684 New Member

    Joined:
    Nov 18, 2018
    Member:
    #21856
    Messages:
    850
    Gender:
    Male
    Not sure if it has been brought up---if you go with company truck it will now or in the future be equipped with numerous features that will nano manage how you drive, down to how long it took you to put on your seat belt.

    I have had this decision before me many times. I've always gone with personal vehicle. I don't need to have a meeting with my boss every time my speedometer goes .5 mph over the posted limit.
     
  2. Jan 20, 2023 at 5:48 AM
    #92
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad
    Agreed I don't always want to be a target to people with a company logo. Likely on vacation would be taking my truck to tow our camper etc.

    Staying in New England, maybe Pennsylvania or upstate NY, but not far considering. Most of my time is in the office. It's sitework and concrete, so rougher site conditions than an interior finish contractor, but again, not everyday, and not physically performing the work or hauling too much tools and other stuff.
     
  3. Jan 20, 2023 at 5:57 AM
    #93
    Fiesta346

    Fiesta346 New Member

    Joined:
    Jul 17, 2018
    Member:
    #17112
    Messages:
    437
    Gender:
    Male
    PA
    Vehicle:
    2013 Rock Warrior
    my tundra is my company truck and it's titled to the company. I can sign on the Co behalf to trade or sale my rig at any time.

    maintenance, registration, insurance, fuel, and any other expenses are on the company dime.
     
    akmerle likes this.
  4. Jan 20, 2023 at 6:03 AM
    #94
    iantung

    iantung So much mod, so little money

    Joined:
    Jul 7, 2021
    Member:
    #65274
    Messages:
    405
    Gender:
    Male
    First Name:
    Ian
    Cypress, Texas
    Vehicle:
    2021 White Tundra CM SR5
    Ah, NE, really don't miss the ice, miss the snow, though, but not salt.... (from central NJ area)
    If you have already prepped your truck underside well, remember to budget that in for annual or every two years to re-treat that.
    Not saying it is a lot, but it does add up.
     
  5. Jan 20, 2023 at 6:04 AM
    #95
    iantung

    iantung So much mod, so little money

    Joined:
    Jul 7, 2021
    Member:
    #65274
    Messages:
    405
    Gender:
    Male
    First Name:
    Ian
    Cypress, Texas
    Vehicle:
    2021 White Tundra CM SR5
    You guys hiring? :)
     
    Eborseti22[OP] likes this.
  6. Jan 20, 2023 at 6:09 AM
    #96
    2mchfun

    2mchfun Lead foot, left lane, loud stereo

    Joined:
    Dec 31, 2020
    Member:
    #56879
    Messages:
    4,337
    Gender:
    Male
    First Name:
    Dan
    Vehicle:
    2021 White 4x4 CM Trail Ed. 2018 White 4x4 4Runner SR5 Premium
    Seat covers, dash mat, ext. Trans. Cooler, sumo springs, oem pwr fld tow mirrors
    Given that you are at $750, 15 mile commutes surrounded by careless others, and the possibility of tattletale tracking, then I think you should have personally owned work truck on the poll. That would be my choice.

    Forgot: salt!!
     
    Last edited: Jan 20, 2023
  7. Jan 20, 2023 at 6:14 AM
    #97
    SwitchThrottle

    SwitchThrottle Stuck behind enemy lines

    Joined:
    Jan 5, 2022
    Member:
    #72688
    Messages:
    276
    Gender:
    Male
    Vehicle:
    2021 Barcelona CrewMax
    The allowance amount and amount of annual driving definitely plays into the decision. I can see how it works for some and not for others.

    Big allowance/low mileage would lean me towards personal vehicle...anything else...company whip.
     
    2mchfun, Eborseti22[OP] and KNABORES like this.
  8. Jan 20, 2023 at 7:04 AM
    #98
    Outbound

    Outbound SSEM #2.5, Token AmeriCanadian

    Joined:
    Aug 2, 2016
    Member:
    #4064
    Messages:
    9,240
    Gender:
    Male
    First Name:
    Aaron
    Northern Alberta
    Vehicle:
    2022 CrewMax TRD Off Road, MGM of course.
    I have a company truck, a '21 F150. It's nice because when it goes down, I get handed the keys to another fleet truck until mine is fixed. I just got another email yesterday that it has another 3 or 4 recalls to get done sometime this month.

    I don't get the option of a vehicle allowance, but it's convenient not having to worry about beating up or putting miles on my own vehicle.
     
  9. Jan 20, 2023 at 7:49 AM
    #99
    PermaFrostTRD

    PermaFrostTRD Tumescent Member

    Joined:
    Sep 20, 2016
    Member:
    #4612
    Messages:
    2,004
    Gender:
    Male
    Northern NY
    Vehicle:
    2019 MGM Grocery Getter
    Company truck sounds like a good idea on paper, and likely is one. I just look at our (American's) value of personal freedom. Owning your own vehicle/home plays into that. If you think the nannies in the 2020 are bad, you should see what your company slaps into that ford (I think one member @RainMan_PNW has alluded to the Orwellian tracking they put in them). That's not something I want. Leaving your truck uncovered outside in New England for a week at a time won't be very good for it (though not completely devastating). If you could garage the tundra from Thanksgiving to Memorial Day, and your extracurricular adventures fall in between June and November, get the company truck. If you go out at all during the winter, just use the tundra. You'll be surprised how well they hold up (in the snotty salty NE winters if you prep and maintain them). So despite them saying they'll allow some "personal use" they will 100% know exactly what that use is. I personally would rather they not.
     
    Beach Toy and Eborseti22[OP] like this.
  10. Jan 20, 2023 at 8:08 AM
    #100
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad
    I like where your head is at...garaging it for a few months out of the year may not be a bad idea pending cost, but then again not only am I paying to keep it on the road, I am paying monthly storage fee...So something to take a look at if it's cheap enough! Would have to consider plow though for winter months - if I could put it on the work truck or not, likely a no...even if they said yes, not sure I would want to...

    No science behind this but my thought is a used and maintained winter truck is better than an outdoor stored and not used truck...again no science, just thought (I am sure someone here will prove me wrong in about 30 seconds, and I am ok with that!)

    For the nannies, I am sure it's all standard GPS tracking, mileage, etc. But then again, I don't really care, as I don't go anywhere i shouldn't be, and I don't drink...so not too much of a concern for me honestly.

    I think for me it will come down to getting a dollar value to work for an allowance, knowing the additional mileage will not be that bad.
     
  11. Jan 20, 2023 at 8:14 AM
    #101
    iantung

    iantung So much mod, so little money

    Joined:
    Jul 7, 2021
    Member:
    #65274
    Messages:
    405
    Gender:
    Male
    First Name:
    Ian
    Cypress, Texas
    Vehicle:
    2021 White Tundra CM SR5
    Guess your mind is set.
    As an insurance broker agent (side gig, nothing big), if you do modify your truck over certain amount of dollars, check with your current insurance if they offer extra protection for additional equipment.
    It might be worth it if it is a few dollars more a month (~$15 depending on how much add-on) just in case, not necessary due to using personal for work, but as a general.
    I know most people don't, and it does kinda hurt when you have damages and insurance can and will flat out refuse your aftermarket add-on, since that was not declared when the insurance was written/issued.
     
  12. Jan 20, 2023 at 8:19 AM
    #102
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad
    Appreciate that tip!

    Mind not made up yet, will have to see it all in writing before that happens!
     
  13. Jan 20, 2023 at 8:24 AM
    #103
    KNABORES

    KNABORES Elitist forum troll

    Joined:
    Jan 1, 2020
    Member:
    #40572
    Messages:
    4,179
    Gender:
    Male
    Arkansas
    Vehicle:
    2000 Limited TRD AC 4X4 Thunder Grey. 2019 Limited TRD CM 4x4 Cement Grey
    2000: Bilstein 5100's 16x8 589's with 265/75/16 and 1.25" spacers Flowmaster 50 series over the axle dump Westin bull bar with 20" LED Pioneer touchscreen with backup camera Full interior and dash LED conversion Trailer brake controller with 7 pin Bedliner coat bumpers trim and tool box 2019: ARE topper with full Bedrug kit and Vortex rack TRD shifter Red tow hooks for that +15 grip bonus
    In General, use it or lose it. Better to drive it than let it sit. Lots of the first gen owners with low mileage holy grail rigs that have issues the ones with 250k miles don't, due to seals drying up, actuators getting stuck, varnish in the engine etc.
     
    2mchfun likes this.
  14. Jan 20, 2023 at 8:42 AM
    #104
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad

    Kind of what I figured! Like most things left unused!
     
  15. Jan 20, 2023 at 8:42 AM
    #105
    Terndrerrr

    Terndrerrr it's good to get lost once in a while

    Joined:
    Jul 8, 2019
    Member:
    #32965
    Messages:
    3,845
    Gender:
    Male
    Music City
    Vehicle:
    Dual 5.7s
    TRD Fox, RAS, 285/75 DTs
    What have you paid out of pocket for the truck so far? A $750/month allowance pays your note for you plus $300/mo. That means you stop paying for your truck. Whatever you have paid at this point (say it's like $25k) is now your fixed cost basis in the truck. And the excess monthly money immediately starts to reimburse you for that $25k, so that cost basis goes down until some point in the future at which you will not have paid a single dollar for your truck. $300/mo excess is $3600/yr less (whatever you're on the hook for maintenance-wise) in your pocket. That alone would pay for the $25k you've hypothetically got in the truck at this point in ~7 years.

    I claim mileage, maintenance, and depreciation write-offs at tax time. It’s almost like getting an allowance to drive my own truck for work. I drove 10,800 miles for work last year, and will get reimbursed 58.5 cents for each mile come tax time. That alone is a $6300 write-off. I drove a total of 18k miles. At 15mpg and $2.50-$3/gal, my fuel costs were half that.

    Monthly allowances can add up to you literally making a profit on a free truck over a handful of years, owning it free and clear, and when you do sell it, it's a 100% profit.

    OR, if you take the company truck and garage your Tundra, you're on the hook for the full purchase price of your Tundra (financing interest included) and you will sell it at a loss like anyone else. Your company did not pay for it for you. It stays clean, and you maybe sell it for $5-10k more than you would have if it had the work miles on it. The difference is, you're still selling at a loss instead of selling a free truck that you made excess money on.

    In @RainMan_PNW 's situation, the company basically paid his truck's purchase price every four years (3x over in 12 yrs). If the numbers work out anything like his, I still think this is the no-brainer.
     
    Last edited: Jan 21, 2023
  16. Jan 20, 2023 at 8:46 AM
    #106
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad
    Yea that is sort of what I was getting to myself. If the allowance value allows for profitability then it's easy. If it hovers on the line, then it's time to think it out. For all of the Team Company Truck, if finance was never a part of it, I think it is easy. If the allowance ends up closer to the $750, I think it's easy then, too
     
  17. Jan 20, 2023 at 9:04 AM
    #107
    centex

    centex New Member

    Joined:
    Nov 27, 2022
    Member:
    #87464
    Messages:
    205
    Gender:
    Male
    Good point. You'll also want to see if your company requires you to carry a certain insurance coverage to drive your personal vehicle and check with your insurance to make sure they are ok with you driving your personal vehicle for work.
     
    Eborseti22[OP] likes this.
  18. Jan 20, 2023 at 9:08 AM
    #108
    centex

    centex New Member

    Joined:
    Nov 27, 2022
    Member:
    #87464
    Messages:
    205
    Gender:
    Male
    I've yet to have one rebate on mileage or maintenance or depreciation write off on my taxes no matter how many tens of thousands of miles I've driven on company time. But I also don't have enough deductions to qualify for anything over the standard deduction so I just take that.
     
  19. Jan 20, 2023 at 9:14 AM
    #109
    KNABORES

    KNABORES Elitist forum troll

    Joined:
    Jan 1, 2020
    Member:
    #40572
    Messages:
    4,179
    Gender:
    Male
    Arkansas
    Vehicle:
    2000 Limited TRD AC 4X4 Thunder Grey. 2019 Limited TRD CM 4x4 Cement Grey
    2000: Bilstein 5100's 16x8 589's with 265/75/16 and 1.25" spacers Flowmaster 50 series over the axle dump Westin bull bar with 20" LED Pioneer touchscreen with backup camera Full interior and dash LED conversion Trailer brake controller with 7 pin Bedliner coat bumpers trim and tool box 2019: ARE topper with full Bedrug kit and Vortex rack TRD shifter Red tow hooks for that +15 grip bonus
    You cannot expense mileage for business unless you are self-employed.
     
    RainMan_PNW and FlyingWolfe like this.
  20. Jan 20, 2023 at 9:29 AM
    #110
    2mchfun

    2mchfun Lead foot, left lane, loud stereo

    Joined:
    Dec 31, 2020
    Member:
    #56879
    Messages:
    4,337
    Gender:
    Male
    First Name:
    Dan
    Vehicle:
    2021 White 4x4 CM Trail Ed. 2018 White 4x4 4Runner SR5 Premium
    Seat covers, dash mat, ext. Trans. Cooler, sumo springs, oem pwr fld tow mirrors
    Although not really hard, I have been looking for some decent coverage for aftermarket mods. Won't be long and they will be pretty close to the price of the truck itself. Do you know some reputable provider(s)? Potential loss due to a tornado is my primary concern. TIA!
     
    Last edited: Jan 20, 2023
  21. Jan 20, 2023 at 9:38 AM
    #111
    iantung

    iantung So much mod, so little money

    Joined:
    Jul 7, 2021
    Member:
    #65274
    Messages:
    405
    Gender:
    Male
    First Name:
    Ian
    Cypress, Texas
    Vehicle:
    2021 White Tundra CM SR5
    Not really, as I am only license to Texas only, but here is a tip:
    Find a broker instead of an actual agent. They tend to have a bigger market look, then if there are a few you like, look up the actual company and ask.
     
    2mchfun[QUOTED] likes this.
  22. Jan 20, 2023 at 10:15 AM
    #112
    Terndrerrr

    Terndrerrr it's good to get lost once in a while

    Joined:
    Jul 8, 2019
    Member:
    #32965
    Messages:
    3,845
    Gender:
    Male
    Music City
    Vehicle:
    Dual 5.7s
    TRD Fox, RAS, 285/75 DTs
    Not entirely true. [EDIT]After 2017, only certain employees who meet very specific requirements can claim mileage as well.
     
    Last edited: Jan 20, 2023
  23. Jan 20, 2023 at 10:25 AM
    #113
    RCwyoming

    RCwyoming New Member

    Joined:
    Oct 1, 2021
    Member:
    #68790
    Messages:
    91
    Gender:
    Female
    First Name:
    RC
    Vehicle:
    2019 Tundra 4X4 CM MGM
    I rather hit a suicidal deer or antelope in a company vehicle than my own.
     
  24. Jan 20, 2023 at 10:50 AM
    #114
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad
    We'll see what official options are, but sounds like it would be a company card for gas, with the allowance, no mileage expense. Which again at the right dollar for an allowance, would not matter to me if they were also paying the gas.
     
    Boerseun and Terndrerrr like this.
  25. Jan 20, 2023 at 10:51 AM
    #115
    Eborseti22

    Eborseti22 [OP] New Member

    Joined:
    Sep 12, 2020
    Member:
    #52148
    Messages:
    134
    Gender:
    Male
    First Name:
    Evan
    Vehicle:
    2020 Toyota Tundra TRD Offroad
    Also just a thanks to the moderator who adjusted the poll option for me!
     
    2mchfun and Terndrerrr like this.
  26. Jan 20, 2023 at 11:33 AM
    #116
    RainMan_PNW

    RainMan_PNW SSEM #82 RGBA #4 “That Guy”

    Joined:
    Oct 27, 2020
    Member:
    #54134
    Messages:
    11,226
    Gender:
    Male
    First Name:
    Casey
    Clark County, WA
    Vehicle:
    2021 Lunar Rock TRD Pro CM
    Check the build link in my signature.
    Yes, we are
    Not in TX though - PNW region

    I should add - with craft supervision, the option isn’t there. They are issued a company vehicle (provided they meet the requirements and agree to the policies). For craft supervisors there are also union contractors rules we must follow regarding the use of personal property for company benefit, yadda yadda…

    It is select project management/assistant project management, and other similar roles that are given the option. We aren’t expecting or asking the people with a vehicle allowance to haul pipe or steel or lumber with their vehicle, or use it as a site truck in a refinery or pulp mill, etc. That isn’t to say that they don’t do that on occasion, such as if they are visiting several sites in a day they might grab some tools or fitting shorts from the shop on their way out to save a trip from a shop truck.
     
    Last edited: Jan 20, 2023
    Boerseun and akmerle like this.
  27. Jan 20, 2023 at 11:39 AM
    #117
    TheBrit

    TheBrit Wrinkly member

    Joined:
    Apr 16, 2022
    Member:
    #77262
    Messages:
    274
    Gender:
    Male
    First Name:
    Mark
    Vehicle:
    2013 Double Cab Tundra 2WD stuckinthemud
    Oi, I resemble that remark. Where do you think us interior boys have to park? I often start before the driveway has been graded and am usually there when the chap pressures the house, doesn’t let me know he’s there, like yesterday, and sends all the shit over the back of my truck
    Generally speaking a rough site isn’t where damage comes from, nails and screws from framers, roofers, siding lads and garage door installers, grinding dust from the stonework lads, metal grinding dust from twats who don’t know better, concrete splashes from you know who. Then you can have six vehicles vying for parking so pick up scrapes from any clumsy oick who drags his tools and workpieces down the side of your paintwork.

    Note that I’ve used the masculine tense throughout, it’s not that we don’t get women on site but the ones that are there tend to be a tad more considerate.[/QUOTE]
     
  28. Jan 20, 2023 at 11:40 AM
    #118
    centex

    centex New Member

    Joined:
    Nov 27, 2022
    Member:
    #87464
    Messages:
    205
    Gender:
    Male
    1153 miles/mo ain’t all that much. When I was in an office I was doing 50 miles a day round trip just to the office and back much less driving around. And last time I did it, you aren’t allowed to charge mileage for daily commute so if I drove 500 miles a week and 300 of that is my commute, I can only write off 200. Now, would the irs know? Probably not. But I’d rather take on the military than the irs. At least then it would be a quick and painless death.
     
  29. Jan 20, 2023 at 12:27 PM
    #119
    KNABORES

    KNABORES Elitist forum troll

    Joined:
    Jan 1, 2020
    Member:
    #40572
    Messages:
    4,179
    Gender:
    Male
    Arkansas
    Vehicle:
    2000 Limited TRD AC 4X4 Thunder Grey. 2019 Limited TRD CM 4x4 Cement Grey
    2000: Bilstein 5100's 16x8 589's with 265/75/16 and 1.25" spacers Flowmaster 50 series over the axle dump Westin bull bar with 20" LED Pioneer touchscreen with backup camera Full interior and dash LED conversion Trailer brake controller with 7 pin Bedliner coat bumpers trim and tool box 2019: ARE topper with full Bedrug kit and Vortex rack TRD shifter Red tow hooks for that +15 grip bonus
    Im no tax attorney, CPA, or even an HR block employee. The following is straight from the IRS concerning car deductions. Consult with your tax preparer / accountant before assuming anything. 71364B74-2DFB-42AC-9EA9-86EF87C4A78C.jpg D9E0B585-8067-40E4-82D4-7D091B7DCD2E.jpg
     
    ATV25 likes this.
  30. Jan 20, 2023 at 1:04 PM
    #120
    Terndrerrr

    Terndrerrr it's good to get lost once in a while

    Joined:
    Jul 8, 2019
    Member:
    #32965
    Messages:
    3,845
    Gender:
    Male
    Music City
    Vehicle:
    Dual 5.7s
    TRD Fox, RAS, 285/75 DTs
    Yeah, those exceptions are very specific/niche.
     

Products Discussed in

To Top