Company Car Plan

[Altis6453]

Our company's executive car plan:

- Budget of Php 650,000.00 (depends on position/rank). Employee may get a more expensive car but he has to shoulder the difference in price
- 60% of car's cost is shouldered by the company
- 40% balance is shouldered by the employee payable in 60 mos., interest-free
- Comprehensive insurance is shouldered by the company for the 60-month period
- Maintenance cost is shouldered by the employee
- At the end of the 60-months, the employee gets ownership of the car with no further payments due

Not really part of the car plan, but an employee benefit:

- reimbursement of gas up to 300 liters per month, subject to submission of receipts

You may also want to check your employer's policy regarding the choice of vehicles since some companies only allow you to choose between the 2 dominant brands (Honda, Toyota).

[Asus700]

here' what i got from 2 companies before:

budget was P750,000, company pays everything to procure the car, anything above, the price difference will be charged to the employee and has to be paid upfront.
60% of monthly amortization shouldered by me at minimal interest
40% shouldered by the company
200 liters/mo of gas
free parking/parking allowance
12 mos installment of insurance