The company-car perk less perky these days
More companies are demanding paybacks and placing limitations on the personal use of company cars, according to a survey by Runzheimer Reports on Transportation, an industry newsletter.
Although corporate permission for personal use of company cars has decreased only slightly during the past six years, from 93 percent to 90 percent, a considerably higher percentage of companies have placed limitations on personal use. In 1976, 40 percent restricted personal use of company cars - such as only allowing the employee or spouse to drive or requiring that employees pay for their own gasoline - whereas this year 72 percent impose these limitations. The percentage of companies that charge employees for personal use increased from 64 percent in 1976 to 75 percent in this year.