Car allowance

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Anonymous

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Can someone tell me how the car allowance works here. I've asked some buddies and seems every company handles this differently. I've had a company provided car my entire career. We have another car for my wife but logistically we could only handle sharing for a week or two before it would become extremely difficult with having to take her to work everyday and get our kids where they need to be, etc. I don't want to go purchase one before I get a firm offer, (if I'm getting one) but my current company may come get my car soon after I give 2 week notice which will be before my hire date. I just want to prepare if I need to spring for a rental car for awhile or possibly build it into a sign on bonus? Seriously, no idea what to expect. I don't want to be in a position to have to quickly purchase something, although I have been shopping around. Please don't tell me I'm a dumbass to not ask the hiring DM, that's just not cool. Appreciate any info....

Will company allow new hires to expense a rental for a short time period?

How much is the allowance? I've heard $600 and $650.

Does this amount include gas? or can gas be expensed separately? or is there a gas card? or deal with it by tracking mileage and writing off on taxes?

Does car allowance kick in date of hire or when we enter the field? (which could be months)

is there any talk of offering company cars with increased sales force?

Thanks
 






My suggestion would be to wait until you have a firm offer before buying a car. Do not take anybody's word for Alkermes policies on this board. You need to hear it from the people who are actually going to reimburse you. For example, you will need to know what tax implications come with certain year model cars. Alkermes is not going to answer these questions via CP message boards.
 






Anonymous said:
My suggestion would be to wait until you have a firm offer before buying a car. Do not take anybody's word for Alkermes policies on this board. You need to hear it from the people who are actually going to reimburse you. For example, you will need to know what tax implications come with certain year model cars. Alkermes is not going to answer these questions via CP message boards.
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yes, but some kind current employees might. that's what I'm going for. will happen, or not. thanks.
 






I've heard $700 per month and .50 per mile. You will buy your own gas but should come out well ahead assuming you are responsible with car selection. Baffled why anyone would quit current job before receiving firm offer. Good luck!
 






Anonymous said:
I've heard $700 per month and .50 per mile. You will buy your own gas but should come out well ahead assuming you are responsible with car selection. Baffled why anyone would quit current job before receiving firm offer. Good luck!
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More like .15-.20 cents a mile. The allowance and cents/mile is more than enough to cover costs of a car and then some. Unless you by a pick up truck or a hummer, you will be fine.
 






Anonymous said:
I've heard $700 per month and .50 per mile. You will buy your own gas but should come out well ahead assuming you are responsible with car selection. Baffled why anyone would quit current job before receiving firm offer. Good luck!
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Let me clear your "baffledom" - I don't intend to resign before firm offer. However, I expect my current company to retrieve my car quickly after I notify them of my resignation and would prefer not have one day to purchase a car without knowing details of the car allowance, in particular, if it kicks in upon hire or not until entering the field, which will not be until at least August. And if alkermes will spring for a rental in the meantime. Forgive my ignorance of the car allowance vs. company car benefit, I'm attempting to be prepared. Hope this helped your confusion.
 






Anonymous said:
Let me clear your "baffledom" - I don't intend to resign before firm offer. However, I expect my current company to retrieve my car quickly after I notify them of my resignation and would prefer not have one day to purchase a car without knowing details of the car allowance, in particular, if it kicks in upon hire or not until entering the field, which will not be until at least August. And if alkermes will spring for a rental in the meantime. Forgive my ignorance of the car allowance vs. company car benefit, I'm attempting to be prepared. Hope this helped your confusion.
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There are many of us thinking the same thing or in the same position as you are. You are definitely not alone.
 






Anonymous said:
Let me clear your "baffledom" - I don't intend to resign before firm offer. However, I expect my current company to retrieve my car quickly after I notify them of my resignation and would prefer not have one day to purchase a car without knowing details of the car allowance, in particular, if it kicks in upon hire or not until entering the field, which will not be until at least August. And if alkermes will spring for a rental in the meantime. Forgive my ignorance of the car allowance vs. company car benefit, I'm attempting to be prepared. Hope this helped your confusion.
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Doesnt the job start in August?? Why would you quite now?
 






Anonymous said:
Can someone tell me how the car allowance works here. I've asked some buddies and seems every company handles this differently. I've had a company provided car my entire career. We have another car for my wife but logistically we could only handle sharing for a week or two before it would become extremely difficult with having to take her to work everyday and get our kids where they need to be, etc. I don't want to go purchase one before I get a firm offer, (if I'm getting one) but my current company may come get my car soon after I give 2 week notice which will be before my hire date. I just want to prepare if I need to spring for a rental car for awhile or possibly build it into a sign on bonus? Seriously, no idea what to expect. I don't want to be in a position to have to quickly purchase something, although I have been shopping around. Please don't tell me I'm a dumbass to not ask the hiring DM, that's just not cool. Appreciate any info....

Will company allow new hires to expense a rental for a short time period?

How much is the allowance? I've heard $600 and $650.

Does this amount include gas? or can gas be expensed separately? or is there a gas card? or deal with it by tracking mileage and writing off on taxes?

Does car allowance kick in date of hire or when we enter the field? (which could be months)

is there any talk of offering company cars with increased sales force?

Thanks
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What car is offered? I hope its better than a shit box fusion!
 
























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