So as part of my job I get to drive a company vehicle. Gas paid for. Drive around 60 miles a day. Basically a brand new truck. I dont drive it much for personal use. Just curious for the people who know... What kind of dollar value would you attach this as a benefit to a salary? I'm guessing around $7500 per year. TIA

Probably at least that since they are paying gas also. Do the math for how much gas you use alone for that. Sounds like a pretty good deal

I don't have a number but no payment, maintenance, insurance or gas? I would think that your number is low.

It is not a benefit to your salary,,,, it is a write off for the company.

But it is a savings to the employee. My best friend supplies all his foremen with a new truck, gas card, cell phone and laptop. These guys run the wheels off those trucks and exercise the heck out of the fuel cards running kids all over the state on the weekends. I would think that would be an awesome "perk" for an employee. They get all of that plus $140K base pay and are constantly griping about being underpaid and looking for greener pastures.

Government tax credit was .60 per mile last I looked…. That is a truck payment

Most folks have to pay taxes when they take a company vechile home.

Think it’s up to $.67 now

Quite some perks

Your friend needs a better production manager…….
This is the biggest issue in construction management.

If you were about to go buy a new vehicle and this means you don't, then its worth a lot. Add up the total cost of it all.

But you're probably going to keep all your current vehicles. So really its only worth the fuel, maintenance and depreciation it saves on your vehicle + a how much value you place on getting to drive a new vehicle.

The company has grown from around 60 employees to about 500 now, maybe more at the height of the season.

Depends on if you're allowed to use if for personal stuff too. If you are, it's saving you a payment and insurance plus depreciation, maintenance, and any potential repairs as well as your fuel. If not, it's still saving you from putting mileage on your vehicle to get to and from, as well as fuel. And less mileage is less maintenance and less potential repairs, so it's saving you money no matter what, how much just depends on your allowed usage.

I have a company truck too, and I figure the biggest savings is on the miles I don't put on my own truck.

I would encourage you to use it for personal miles as well if allowed - use the benefit your company is providing you. Likely they will write off the mileage all together as a business expense. Would guess most businesses will expense the vehicle off in a few years and then use the mileage every year. Truly a win win for the employee and the business as it is a deduction. As long as Section 179 remains part of tax code or is improved upon - would think more businesses would do this.

For us personnel miles are allowed up to a point. They don't want us pulling boats, campers or personal trailers, I suppose for insurance reasons. I can't check traps in it either because it's full of work stuff and there is no extra room! So my personnel truck basically gets weekend and vacation duties.

Yet some other guy on here probably working out of his briefcase knows better than your friend. Beautiful huh?

Osky

Depending on what kinda driving you’re doing. It’s usually a pretty good deal though. Our federal government is taking about $2 a day for me to drive a provincial corporate F350 that’s already over weight with empty bins. Because I’m on standby, I can take it home every night which is why they ding me for personal use. I’m about 10 miles from my assembly point. $2 is pretty darn cheap for me!
Our subcontracted meter readers use their personal vehicles and I think they’re getting .60-.70 cents a klik. For them, a cheap beat up car is ideal. Like an 86 Toyota Corolla or something…lol

Wife had the same package. Company car , gas card , insured ! No restrictions but we paid a fixed rate of $30 a month for fuel so they could put a $ on benefit for Government purposes.

We figured it was a $400 value per month.

Actually, it is $0.70 per mile now. I get mileage reimbursement from my company and that's the new rate as of Jan 1, 2025.