Company Car Plan

[Mguy]

Sagot ng company 1M. Anything over, i-loan mo at 10% p.a.

[meledson]

In my previous company, as a Senior Engineer, we are entitiled to a guaranteed loan of 100K from a bank. The rest of the amount needed to buy a car has to be taken from that bank as a loan. The 100K loan is payable in 5 years, 0% interest.

Basically tinali ka lang sa company for 5 years. Ito ang reaction ng isa kong ka level na nag avail. Maling mali daw. Pero at least after 1 week mula application, nakuha nya ang Vios E nya.

[ptk675]

up ko lang to..

on the part of the company.. if the car is registered under compay name.. does this falls under Fringe Benefit?? so the company pays more tax for this? or is this considered as an expense and is tax deductible?

i think this is normally expensed para tax deductable.

[wifi21]

Mga bossing, pwede po ba malaman ang mga companies that offers company cars, car plan and car loan benefits? I will contact them for our corporate auto loan promo baka magbenefit ang company nyo and even kayo as employees. Thank you po.

[batusai_jr]

i envy you guys for that car plan,

[jut703]

Was supposed to create a new thread since I was curious, turns out there's an existing one already.

Will share what I know, based from what I've been offered or what my friends in other companies have, almost all of us are in either marketing or sales. More senior positions will probably have more compelling packages.

1. Company A
- Vios 1.5 or City, depending on the department
- 5 years, no employee contribution
- No option to choose a different model, can be left with the company if you leave before 5 years

2. Company B
- 700k budget, 20% employee share
- 5 years

3. Company C
- Vios 1.5 only
- 6 years, no employee contribution
- Option to assume balance of other cars left with the company (term is also shortened, ie if the guy before you kept the car for 3 years then left, you just have to keep the car for 2 more years then you get a new one again)

4. Company D
- 1M budget, employee can add if he wants, but choices restricted to 4x2 pickups
- 6 years, no employee contribution
- Option to assume balance, term also shortened

5. Company E
- 30k car budget per month given in cash (should cover amortization and maintenance)
- You can choose to buy a car, or keep your existing car and pocket the money
- No restrictions on car choice

6. Company F
- 950k budget, allowed up to 1.045M at employee's expense, 20% employee share
- 5 years, free maintenance
- You have to buy the car at book value if you leave

7. Company G
- Ranger XL or Focus, no option to choose
- Car replaced every year, but never transferred to employee ownership

8. Company H
- Vios 1.3, no option to choose
- Car only assigned, not transferred to employee ownership


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[_Cathy_]

Company E - geez! I'm really in the wrong industry. 20 something and already given that much only as allowance. I would assume salary is at the 100k range na.

I took my internship at Caltex in 6750. All of us interns applied but nobody got in. Employees there were really earning a lot.

This thread makes me feel like a failure :cry2:

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[jut703]

Company E - geez! I'm really in the wrong industry. 20 something and already given that much only as allowance. I would assume salary is at the 100k range na.

I took my internship at Caltex in 6750. All of us interns applied but nobody got in. Employees there were really earning a lot.

This thread makes me feel like a failure :cry2:

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They don't all get 100k salaries, just really big car allowances. Salaries are just about the same as the other multinationals in the industry. [emoji4]

[crave]

Let me share my humble car plan experience 😊:

Previous work:
Manufacturing company- Pharma (QA senior supervisor level)
-Limited to TOTL City and Altis G (although the big boss finally approved the Sylphy 1.8V that i've been requesting during the negotiation after i filed my resignation )
-40% will be shouldered by employee via salary deduction
-fuel, maintenance and toll- employee expense
-5 years

Current:
Technical Sales
-650k budget (has an option to add at employee expense)
-5 years
-no cash out
-free fuel, maintenance, parking and toll
-plan will be automatically renewed for better plan upon promotion kahit hindi pa tapos yung existing plan
-unit can be bought after 5 years at 10% of the brandnew price


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[papi smith]

Company E - geez! I'm really in the wrong industry. 20 something and already given that much only as allowance. I would assume salary is at the 100k range na.

I took my internship at Caltex in 6750. All of us interns applied but nobody got in. Employees there were really earning a lot.

This thread makes me feel like a failure :cry2:

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Sounds like the San Miguel Group, Mid Mgt Position, base rank pay should be above 80k.

[dreamur]

Option E if you already have a car, which you do. Assuming the P30K is non-taxable? My company does not offer car plans at all.

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[dr. d]

as if we had a choice as to what car plan our company will offer us...
heh heh.

[mda_]

Here's our company's car plan:

-500k; 12%vat shouldered by the company
60% c/o company; 40% c/o employee salary deductible in 4 years
-you can choose any brand/make you like, provided you pay excess amount in cash
-after 4 years car gets transferred to you, just pay fully depreciated book value (minimal + registration transfer cost)

[1D4LV]

my current plan is that the company shoulders the first 500,000. the remainder's deducted from my salary every month. ownership after 3 years.

since i had a car na, when i availed of this, i got a vehicle costing 500,000.00. parang libre. all i need to do is to stay here for 3 years.

my previous plan (from a Japanese MNC):

60% shouldered by the company.
40% i pay via SD, payable in 5 years.

[jut703]

Sounds like the San Miguel Group, Mid Mgt Position, base rank pay should be above 80k.

Not SMC.

SMC pays well for its tenured guys, but entry level pay is low. Bonuses lang babawi but still not as good as MNCs.

as if we had a choice as to what car plan our company will offer us...
heh heh.

We have a choice when choosing companies, benchmarking their offers.

[_Cathy_]

We have a choice when choosing companies, benchmarking their offers.

That's only for the few lucky ones who have enough credentials or marketability to make a choice

Before graduation I made a list of my "dream companies". I only got an interview from 2 I still have that list from more than a decade ago

Dunno about our car plan. It's for AVPs or VPs lang ata. Dati AM pwede but not anymore. My friend who works in BDO said they don't have a car plan anymore. It's weird na retail bank pero wala car plan for employeee.

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[CVT]

They don't all get 100k salaries, just really big car allowances. Salaries are just about the same as the other multinationals in the industry. [emoji4]

Figures bro.,- it is "just" an allowance,- co-terminus. Fringe - so tax is paid by the company.

Basically, that's what we have,- just allowance and the employee decides whether he/she buys a new or a pre-owned unit or maintains his/her unit or pockets the money... IMO, it is a win-win for both parties.


"The measure of a man is what he does with power" LJIOHF!

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[@alon]

Company E - geez! I'm really in the wrong industry. 20 something and already given that much only as allowance. I would assume salary is at the 100k range na.

Cathy, I think I saw a post before that you are also in finance/accounting. I have yet to see a car plan package for us masisipag na accountants. hehe! Unless you are in senior manager or VP position. I think sales people are given this benefit even at entry level. So, wrong profession for me, I guess.

[dreamur]

Cathy, I think I saw a post before that you are also in finance/accounting. I have yet to see a car plan package for us masisipag na accountants. hehe! Unless you are in senior manager or VP position. I think sales people are given this benefit even at entry level. So, wrong profession for me, I guess.

You can never go wrong with having an accounting degree. It opens doors to limitless opportunities you wouldnt need a car plan at all. Of course having a CPA certification would be a big help.

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[CVT]

You can never go wrong with having an accounting degree. It opens doors to limitless opportunities you wouldnt need a car plan at all. Of course having a CPA certification would be a big help.

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Just a rub, dear bro...

Oo nga, - Enron, WorldCom, Tyco early 2000s >>> Sarbanes-Oaxley (SOX).... Accounting Scandals > Accounting Controls > Accounting as Heads of Companies....

Now, that's staged takeover!....
(Sila ang gumawa ng scandal,- sila pa ngayon ang sikat!)....


"The measure of a man is what he does with power" LJIOHF!

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