Originally Posted by CaptKirk
I have done all 3 options mentioned above and I personally would choose company vehicle if it still allows for normal personal use.

The option I was in where I was paid mileage and given a company car, the miles paid was a reduced rate rate like 0.28 to 0.32 cents a mile based on vehicle class. The IRS has a very defined set of rules for this case. You can write it off unless it exceeds something like 2 percent of gross income and you can only write off what is in excess of the 2 percent. I paid for all the normal stuff like oil, tires etc.

Also, most (maybe not all) require the vehicle you drive for company purposes to be a maximum of 5 years old and less than 150k in miles.

Some of this might be outdated as it was 9 years ago when I was in company vehicles.

And yes, most companies require 1 million in liability insurance to drive on site. 5MM is higher than I have ever seen but I don't doubt it. Most of the time the individual picks up the first 300k then the company has a blanket for the remainder. This is my experience working for speciality chemical companies driving onto site of the biggest corporations in the world, paper, chemical and oil industry.


Runzheimer. Look the program up. It is a federal program IRS established. I was on it for 12 years. Monthly rate was fixed and gas cost varied on monthly adjustments. All based off how many business miles you drive in a year. There is a nice loophole in it. You can buy a 2 year old vehicle with low mileage and has rebuilt title and there is nothing they can do about it. Most of the program allows (used to) 5 years plus a year before you have to get a new or different one.