^^^ My wife just moved to a new company and she is entitled to a company car. She opted to monetize the benefit but she can only get a portion of the amount of a new car. It is still something. We don't need a third car and I'm not swayed by the car choice they presented.
Now, if I do move to another company and a company car is offered, I would decide to get it or not depending on the coverage. If it's something like in the amount of a Lexus IS350 or a VW Passat, I'd surely get it. =)