Car stipend?

Discussion in 'Pfizer' started by anonymous, Nov 3, 2016 at 7:45 AM.

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  1. anonymous

    anonymous Guest

    Can anyone provide me with more details about the car stipend option?

    Thank you!
     

  2. anonymous

    anonymous Guest

    I drive about 2700 miles every month and use a Prius. I live in a southern state with some of the lowest gas prices in the country. When I factor in taxes, title and depreciation even with the stipend I lose about $113 every month driving my car.

    I like not having to drive their car but it sure was nice when the occasional windshield crack of flat tire was covered.

    Bottom line, the personal charge and lousy choices are driving us all to the stipend route.

    Good luck, remember just like the Republican party - someone has to paid for the big salaries and benefits of the ELT.
     
  3. anonymous

    anonymous Guest

    Thank you!
     
  4. anonymous

    anonymous Guest

    Who said car stipend is an option? Thought it's a company car - Nissan Altima or Subaru for snow states...
     
  5. anonymous

    anonymous Guest

    You have a choice of company car or car allowance.
     
  6. anonymous

    anonymous Guest

    Take the company car. It is always a better deal. You may not like what you are driving but it is their wear and tear, depreciation, car insurance, etc. You cannot beat it.
     
  7. anonymous

    anonymous Guest

    What is the car allowance amount and what is covered....miles/gas/maintenance??
     
  8. anonymous

    anonymous Guest

    i have heard it is around $500.00 ... currently going into my last interview
     
  9. anonymous

    anonymous Guest

    12 years with pfizer and I've always been told it's smarter to take the company car, but just recently started doing the math and realized its not a good deal anymore due to the amount they charge you for personal use now. They charge you $200 per month taken out of your paychecks for you and your spouse to drive the company car on your personal time. I drive about 1500 miles a month for my territory, so my vehicle reimbursement amounts to approximately $570 per month. But then when you also add the $200 you were paying for personal use (you no longer pay that), it's the equivalent of $770 a month more than what I was getting previously. I bought a minivan, which was more convenient for our family, the payment is $450. When I added my vehicle onto my insurance plan, it only increased my insurance $30 more per month. So the amount I'm getting reimbursed is plenty when you take into account gas, insurance and maintenance. BUT when you also think about this other factor: at the end of 4 years, Pfizer is essentially paying for a vehicle that I get to sell, that I get to keep the equity on. In the past, I was paying Pfizer $2400 every year or $9600 after 4 years for THEIR company car and then giving it back to THEM so that they could pocket the equity when they sold it. NOT a good deal. This is way better. And I get to choose a vehicle that makes sense for my family, so it's a no brainer.
     
  10. anonymous

    anonymous Guest

    Is the $570/month your total reimbursement? Isn't there a fixed and a variable amount? Or is that both of them combined? That doesn't seem like much to me compared to other companies that I've worked for and that I know about.
     
  11. anonymous

    anonymous Guest

     
  12. anonymous

    anonymous Guest

    Well if that's th case then why does the company even offer a stipend if you make money not them? The answer is very simple, either way you get screwed!!
     
  13. anonymous

    anonymous Guest

    Company cars are free, untaxed benefits. They pay for the insurance and the accidents and the wear and tear.
     
  14. anonymous

    anonymous Guest

    one other thing to think about, if you have kids that are close to driving age, they are not allowed to drive the company car, so the stipend works out better in that case.
    I do the stipend also, I think I get around $500/$550 per month. I just like having my own choice of a car. Plus like the pp said, at the end of it all, the car is yours to sell. Unless you lease...
     
  15. anonymous

    anonymous Guest

    The company car is the greatest deal and that is why other industries do not offer it; too expensive for them. I would not want a financial outlay nor the responsibility or hassle of my own private car until absolutely necessary.
     
  16. anonymous

    anonymous Guest

    I bang mine off of trees and other cars. Not my car not my problem.
     
  17. anonymous

    anonymous Guest

    Correct. For about 1500 miles per month. Weakest in pharma. But I think there are other solid reasons to be here. Just wish I didn't have to lose money every time I step in my car to drive. A disincentive to say the least.

    And the fleet car scenario isn't much better $200 out of pocket per month and also subtract personal miles and see further deductions. So, basically, same thing. Step foot in car. Lose money.
     
  18. anonymous

    anonymous Guest

    The cost seems to be universal across the larger pharma companies from what my pals tell me.
     
  19. anonymous

    anonymous Guest

    It's really REALLY poor. If you drive 2000 miles per month, you get about $550. Worst I've seen in the industry. Doesn't mean it's a bad job. Just very poor reimbursement. If you get the company car, you will lose about $150-$250 per month out of pocket depending on some variables.

    And if you really like your personal car, you can probably tolerate the weak excuse for reimbursement.

    The industry simply isn't what it used to be. But it's still a solid living. If you are extremely motivated and not too risk-averse, sign on with one of the MANY start ups heading our way in 2017...
     
  20. anonymous

    anonymous Guest

    I used the car allowance for one go round. Quickly switched back to company car. i was expected to pay for everything from the allowance given. Including rentals, repairs, flat tires & windshields. It didnt add up.
    My manager hammered me for taking a day off when my car was in the shop. She told me allowance covered a car rental & I have to get one, not take a day out of territory. I AM NOT GOING TO USE MY MONEY to do their job. Allowance did not pay enough to cover that cost.
    That why i went back to company car. Made financial sense.