Flexible, Fair & Accountable VRP Solution
There’s a lot to consider when it comes to any decision that affects your enterprise. CarData can help you make the right choice regarding your vehicle program by guiding you to the next step in the process. The fundamental idea to keep in mind is that a FAVR program separates vehicle reimbursement into two distinct categories:
- Fixed Expenses – Costs that do not vary from month-to-month such as licensing, depreciation and insurance, calculated based on the vehicle location.
- Variable Expenses – Everything else that contributes to the cost of operating the vehicle, including fuel, maintenance and actual miles driven while on the job.
With a CarData FAVR plan, known recurring costs are combined with the changing expenses drivers incur doing their jobs. Thanks to our SaaS-based online platform and Mi-Route app, we know the distance driven, down to the mile, record down to the penny fuel consumption expense, and automate administration to just a few clicks. GPS and mapping technologies eliminate mileage “guesstimates.” Real-time data feeds enable us to account for daily changes in fuel prices, everywhere your drivers live and work. And the tax advantages for employees and businesses are an undeniable advantage.
Three Advantages to Remember
Details aside, what makes a FAVR a smart business decision?
“Our company cars were costing us too much and they were getting older. We wanted a plan that was industry competitive and that produced some cost savings. Continue reading “Chief Financial Officer – Resource Industry” »
- Chief Financial Officer, Food Industry
“The online application is simple to use, and our employees love being able to have access through their mobile devices. This technology has made a big difference in terms of compliance. Employee buy-in was almost seamless, which in our industry is worth its weight in gold! Continue reading “Testimonial – Modern Technology” »
- Benefits Director, Beauty Industry
“Prior to switching to CarData for our vehicle reimbursement plan, we managed an in-house fleet program. However the practicality of the program began a steady decline not long ago, both in terms of costing and resource allocation. Continue reading “Testimonial – Company Car Fleet” »
- VP Human Resources, Housing Industry
“The vehicle reimbursement program we were using had our people moving in and out of compliance with IRS rules. Continue reading “Vice President Human Resources – Fortune 500 Company” »
- Vice President Human Resources, Technology Industry
“Placing our vehicle reimbursement program into the hands of CarData was one of the best decisions for our company. The modern technology and easy-to-use system that they offer is second to none. Continue reading “Testimonial – Driver Benefits” »