Save More Using Your Car

I know the headline is a bit misleading. For most of us who are budget- conscious, you cannot really save using your car. Commuting is still a better and cheaper alternative. The cost of fuel, car maintenance, and insurance alone can easily put much strain to your finances when overlooked from your financial planning.

When the recession hit us late last year, my first recourse, as many of you have done too, was to cut cost. I sold my SUV and bought a more fuel-efficient and smaller car. And whenever there is an opportunity for me to commute, I commute. One of the perks I get is the time to reflect which I can’t do when I am driving.

However, when auto allowance program such as what CRS (Customer Reimbursement Services) offers, I realized that I can save using my car in attending to my organization’s business. How?
With an auto-allowance or car reimbursement program, you use your car and yet you save because it is tax-free. Moreover, it was designed to be flexible and fair:

Each participating driver is provided with a personalized Driver Reimbursement Schedule which lists every component used to calculate their individual reimbursement rate. Each driver’s rate considers factors such as geographic cost variances, territory conditions and annual business miles.

The key there is considering the ‘geographic cost variances.’ Meaning, the usual cost that you incur when you use your car such as fuel cost and insurance coverage will be aptly covered in the program. Your organization saves, and so do you.

*This post is sponsored.

Posted on 12/05/2009