company giving away car

[mackoto]

guys,

my friend has a company which is operating for more than 3 years, being successful in his early 30's he's planning to give away a company car in one of his supervisors - who happens to be one of the pioneers. Her daily transpo expenses is from antipolo to crossing daily and spends between 170-200 pesos. I believe his idea would surely benefit not just one of the bisors but also those who are bound on that area, upon checking it can load 4 employees in that route. So my question would be:

1. Is vios the best bet on this situation, considering 1.3j is the cheapest in this bracket versus kia picanto?

2. what would be the terms of use for his employees enjoying the ride? I have suggested the following to him:

*company buys the car, supervisor pays the fuel or contribution ibetween the employees who are bound on that area
*company pays insurance, if ever the car would need a participation cause of crashes or repairs . Her supervisor must pay it regardless if my friend or the supervisor (this really confuses me)
*on weekends, supervisor must left the car on the basement so my friend can use it anytime

The model that he's eyeing is the vios 1.3j cause of the better mileage and a better resale value cause of the badge. Guys hopefully you can help me out on this one thanks have a great week ahead












mods if im posting on the wrong category, pls move this thread. thanks

[[archie]]

sir, from all the companies ive heard of... yung car kasama fuel and maintenance na shoulder ng company.

does the employee have her car? or commute? kasi sa gas prices ngayon... bak masindak yung employee. hehehe

IMO, kung bibigay yung car.. then let the car be under the companies profile and after 4-5 years... pay a small amount para kanya na yung car. at least that would ensure the loyalty.

reguarding naman sa iiwan yung car sa basement... hmm parang dapat privilege na nung employee to use it during weekends. anyway if your plan is to let the employee shoulder the gas... then paano naman kung gagamitin nung friend mo. parang gas ng employee yun.

sa car naman, yung city na lang kesa sa vois kung base model. kasi vios walang power windows and locks... yung city idsi has all powered at the same price of 575k.


well this is only my opinion naman.

[russpogi]

Normally pag ganito, the company can offer a car plan to the employee. The usual is a 60-40 or 70-30, where the company pays for 60% (or 70%) of the cost of the car while the employee pays for 40% (or 30%) of the cost. The cost of maintainance and insurance is borne by the employee while the cost of fuel is borne by the company on official company trips only and the rest is borne by the employee.

Suggest mo to sa friend mo. Sana makatulong!

[1D4LV]

experiences ko sa carplans from my two previous company

COMPANY 1
Alloted 800k as a budget, which will be paid by the employee for 5 years on 10% interest. If you don't consume the 800k budget, you can use it for gasoline and maintenance expenses (e.g. 800k loanable, but you only availed of 600k, which means you can get the 200k for maintenance costs and gasoline expenses for the first year).

COMPANY 2
Alloted 600k, in which, half of which is payable lang within 5 years at 0% interest. No gasoline, maintenance expenses included and you have to pay chattel mortgage for six months deduction. comprehensive insurance is also payable in 10 months.

Example: 600k loanable, 300k will be deducted from the salary of the employee for 5 yeras + one time chattel mortgage costs + comprehensive insurance for 10 months. comprehensive insurance is renewable every year.

[mackoto]

sir, from all the companies ive heard of... yung car kasama fuel and maintenance na shoulder ng company.

does the employee have her car? or commute? kasi sa gas prices ngayon... bak masindak yung employee. hehehe

IMO, kung bibigay yung car.. then let the car be under the companies profile and after 4-5 years... pay a small amount para kanya na yung car. at least that would ensure the loyalty.

reguarding naman sa iiwan yung car sa basement... hmm parang dapat privilege na nung employee to use it during weekends. anyway if your plan is to let the employee shoulder the gas... then paano naman kung gagamitin nung friend mo. parang gas ng employee yun.

sa car naman, yung city na lang kesa sa vois kung base model. kasi vios walang power windows and locks... yung city idsi has all powered at the same price of 575k.


well this is only my opinion naman.

thanks archie, i'll inform him reg. the maintenance and fuel at his company's expense

im also suggesting that he can sell it to the employee in 4-5 years, seems like a bond too. what if she's not interested in buying it? baka may new models na by that time . she's aware that gas is at p50/liter now

leaving the car in the basement is optional naman, my friend already has an suv and i dont see the point of leaving the car in the basement on weekends, siguro for date purposes

we'll check the honda city, one thing i remember if things wont pan out he might just use it as a taxi

[Galactus]

In our company's case, 60/40 ang sharing (or 65/35, depending on rank), with the employee shouldering 40%. 0% interest, payable via salary deduction over 5 years.

Sagot din ng company ang insurance (100%), while there is a matrix for maintenance expenses, depending on the age of the car. Officers likewise get an allowance of 100 to 500 liters free per month.

[mackoto]

Normally pag ganito, the company can offer a car plan to the employee. The usual is a 60-40 or 70-30, where the company pays for 60% (or 70%) of the cost of the car while the employee pays for 40% (or 30%) of the cost. The cost of maintainance and insurance is borne by the employee while the cost of fuel is borne by the company on official company trips only and the rest is borne by the employee.

Suggest mo to sa friend mo. Sana makatulong!

russ, i'll tell him to consider this too. maybe 70-30 is a better scheme. Btw, they're an outsourcing company so most of the time they just stay in the office and they rent a bus during company outings so no company trips other than outings .

[[archie]]

sir, the amount... can vary naman when the company is selling it to the employee... parang ganito, 20% of the purchase price na lang yung babayaran ng employee to get the car after 5 years... so 20% of 575K is 115K... i think kukunin yan ng employee. hehehe

then the money the company gets, can ba a down payment for a new company car... so wala kang loss... yung installment will fall unto fixed cost, thus lowering tax payments.

pati na din yung gas (fleet card) and maintenance... fixed cost na din.

if ever gusto gawing taxi... vios na lang kunin.

[mackoto]

sir, the amount... can vary naman when the company is selling it to the employee... parang ganito, 20% of the purchase price na lang yung babayaran ng employee to get the car after 5 years... so 20% of 575K is 115K... i think kukunin yan ng employee. hehehe

then the money the company gets, can ba a down payment for a new company car... so wala kang loss... yung installment will fall unto fixed cost, thus lowering tax payments.

pati na din yung gas (fleet card) and maintenance... fixed cost na din.

if ever gusto gawing taxi... vios na lang kunin.

sir, the amount... can vary naman when the company is selling it to the employee... parang ganito, 20% of the purchase price na lang yung babayaran ng employee to get the car after 5 years... so 20% of 575K is 115K... i think kukunin yan ng employee. hehehe



then the money the company gets, can ba a down payment for a new company car... so wala kang loss... yung installment will fall unto fixed cost, thus lowering tax payments.



pati na din yung gas (fleet card) and maintenance... fixed cost na din.



if ever gusto gawing taxi... vios na lang kunin.

dude archie, thanks for this clarification upon receiving the fax from toyota meron din pala silang corporate discount (less 20k), im not sure if this is the same as ung fleet card. My friend is planning to purchase it in full cash, so the down payment will add up as a saving for his company he'll wait for reactions muna if giving cars would ensure loyalty on the other hand i think others would be envious of this matter. If okay naman for sure pang down na din ung sabe mo na 20%



i think ok din ang option na 5 years as under company then its up to his supervisor if she'll buy that later on. I'll keep you guys posted

[xircom]

regarding sa gas expenses, you can go by liters instead of (a) pesos or (b) open-ended. for example, figure out the number of kms from his area to the office and multiply that by the number of days (pwedeng working days or 30 days). kunwari from antipolo to ortigas, 16kms one way so 32kms per day. multiply by working days per month or, if generous sya, 30 days for 1 month. so 960 kms. with allowance, make it 1000kms per month.

then based sa FC ng car, say vios, 10 to 12 kms per liter. let's use the lower end of 10 kms per liter. 1000 kms per month divided by 10 kms per liter equals 100 liters per month.

you can dictate unleaded, so it comes cheaper. you can increase the number of kms if the car would be used for transpo during working hours, say going to suppliers, or when used for collection purposes, etc. sample computation lang naman ito.

pwede rin naman na fixed 5000 pesos per month. pero syempre as gas prices go up, lugi na yung supervisor. mahirap din naman on your part na open-ended kasi lugi ka if the car would be used for personal reasons on weekends, say trip to tagaytay or subic.

just my 2 cents