As gas prices spike…
Drivers in FAVR programs are seeing increases in their reimbursement rates.
One of the great advantages of the fixed and variable rate reimbursement approach is that it is always reflecting current costs in the area you drive. As gas prices rise beyond the $4.00 national average mark, employee drivers who are reimbursed using FAVR are getting a bump in their variable rate, reflecting those higher fuel costs. If you’re in a standard CPM reimbursement program or a fixed monthly allowance, nothing has changed for you. The value of your reimbursement has diminished. That is why Driven Reimbursement suggests you have us review of your existing approach – you may be leaving money on the table, or <gasp> paying taxes unnecessarily. That’s not cool!
It’s not just high fuel prices that affect the net value of your reimbursement – it’s accurate calculations of depreciation in your area, the cost of insurance, and maintenance costs associated with the characteristics of where and how you drive. Other reimbursement providers don’t dive deep into these factors because their goal is to maximize profits for their shareholders. At Driven Reimbursement, we do things differently and better – saving you money and constantly advocating for your interests. Contact us to find out how we can save you time, money and make your job easier.
