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Company Truck or Truck Allowance

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

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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 7:46 PM
    #121
    RainMan_PNW

    RainMan_PNW SSEM #82 RGBA #4 “That Guy”

    Joined:
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    Casey
    Clark County, WA
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    Check the build link in my signature.
    Careful on the tax assumptions in your math though - I am not able to claim mileage or other IRS writeoffs on my mileage because I am on a stipend. It’s one or the other - you can paid mileage or you get an allowance. Would hate to be on the wrong side of an audit in that.

    Similar to if we work out of town and get a travel per diem - there are limits to how much we can be given per day, and after a specific number of months the per diem becomes taxable. Those are IRS rules, not ours. You can still make bank off per diem if you live smart on the road, but you’ve got to know the rules.
     
    ATV25 and Terndrerrr[QUOTED] like this.
  2. Jan 20, 2023 at 7:57 PM
    #122
    Terndrerrr

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

    Joined:
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    Dual 5.7s
    TRD Fox, RAS, 285/75 DTs
    Yeah, the both sides of it isn’t true any more. Bummer.

    I used to travel, mostly domestic, for a living. I always saved my per diems.
     
    RainMan_PNW[QUOTED] likes this.
  3. Jan 21, 2023 at 11:14 AM
    #123
    Shamrock92

    Shamrock92 New Member

    Joined:
    Mar 31, 2020
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    Having tried it both ways - company vehicle and then maintain your own as yours.

    4 years from now when you look at your best to shit truck that the company “bought” you - you will be wishing you put all those miles on the Ford and maintained your personal vehicle better and used it less.

    Right vehicle for the right job. There is a reason those “base” model trucks are so popular for company/fleet use. They give you what you need - but without all the options. When they wear out in 7-10 years - you don’t feel nickeled and dimed into keeping them going - you sell it and move on to the next vehicle. The Tundra - you will feel obligated to keep fixing as it’s worth 3x as much as a comparable F150.

    Bonus - company cars are like rentals - you don’t care about small scratches/dents or wear. So long as it’s not huge that they are going to ding you for the cost at turn in - you run them hard and don’t think about it. Personal vehicles you will always care about (at least as long as they are newer).

    Now I’ve in the past used my 20 year old S-10 or older Chevy 1500 as a company truck - but I didn’t care what happened to those. Kept them up - but they had plenty of wear prior to my ever taking ownership. If that’s on option - the monthly stipend might be tempting.
     
    Eborseti22[OP], FlyingWolfe and ATV25 like this.
  4. Jan 21, 2023 at 11:34 AM
    #124
    TXBrit

    TXBrit New Member

    Joined:
    May 5, 2019
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    Weatherford TX
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    2019 MGM Platinum
    Forty years in field service for a few different companies. Always had company owned vehicles, sometimes for personal use too, with gas cards all maintenance and repairs covered. My personally owned vehicles all got to stay nice and only taken out when I wanted to, not when I had to. Makes a huge difference to the pay check when you're not running your own vehicle to go to work. I went for a time when I didn't have a POV because I had no use for one.
    We always reckoned a company owned vehicle that you took home every day was worth $15/hr when you consider the cost of buying/running a vehicle.
    Now I'm retired, the only thing I miss is the gas card.
     
    Eborseti22[OP], FlyingWolfe and ATV25 like this.

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