What is a Company Car Program?
With a company car program, your company either purchases or leases vehicles to provide to employees for business purposes. While company car programs may provide several benefits, there are also challenges:
- Fleet management
- Personal use inaccuracies
- Fuel abuse
- Company risks and liabilities from accidents
- Vehicle neglect
The IRS requires substantiation of the usage of the vehicle for business purposes. This, along with tracking fuel usage for tax purposes, is an administrative burden for both the company and employee.
Getting More from your program
Runzheimer can help manage the administration and cost avoidance of these items in a company car or fleet program. We can:
- Accurately capture the business vehicle usage
- Provide an IRS-compliant mileage log
- Provide accurate fuel cost reimbursements without the costs and management of fuel cards
Working with Runzheimer, you have the ability to proactively manage your company car program and align it with your business initiatives.
Runzheimer provides state of the art technology to solve the issue of IRS compliance. Equo® Mileage Capture ensures your employees can automate the capture of business mileage in IRS-compliant mileage logs. Equo Fuel allows you to free your company from fuel card management and your employees from fuel card restrictions. Each business mile is reimbursed to the employee while the company avoids unnecessary spend on personal usage fuel costs, often a 15%-20% reduction. Additional solutions include: