re: How much should a company truck affect your salary?

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the average truck note is >$1,000/month now, so with insurance and gas and maintenance, that’s what, $1,600/month minimum? That’s almost $19,000/year.

40 hours per week, 50 weeks per year, +$10/hr, 40x50x10= $20,000. So yeah, a company truck is worth in the ball park of $10/hr.

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Only if you can get rid of a personal vehicle, drop all of those costs and then use the company vehicle exactly line you would have used the personal vehicle. If you still have to keep a personal vehicle for personal use, then the only benefit of a company vehicle is lack of fuel, mileage depreciation and maintenance costs for work-related driving.

The average truck note is over $1000 - no way.

Depends on the job. The company I work for provides F-150 XLT to all sales personnel and certain senior managers get the Lariat. No company logos are anywhere on the vehicles. We are allowed to drive it anywhere for personal use. And our policy allows our spouses to drive the vehicle. But only a spouse. Our deal is more like a perk to be considered as supplemental compensation. I value my 2022 Lariat at about $15k a year when factoring in gas, insurance, and maintenance.

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I was told that the incentive of having a company truck was worth the same as being paid $10/hr more. I don't know if I'm convinced if that is completely accurate or not.

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The IRS only considers the personal miles you use it as wages. And when you consider that, you are basically paying for personal use.

Depending on the line of work, the company may prefer you to be in a company truck for its business use for insurance purposes. It may require a lot of travel and be cheaper for the employer to buy the car than to pay your mileage. It’s also more efficient than having employees commute to the office, and then pick up the truck (particularly for hourly employees).

I wouldn’t consider a company car as a very valuable form of compensation. You save on commuting miles, but that’s about it. A car allowance is a different story, it’s essentially just extra comp (which is the IRS position)

I have a company car and it's absolutely part of my salary in my eyes. BUT, I can drive it for any personal use I'd like, I just have to put gas in it on the weekends with my own money. If I couldn't use it for personal then that would be a deal breaker. It's great to not worry with expensive Louisiana insurance, tires, etc. The only problem is it's a way to get fired. I can't get more than 1 ticket, zero dwi's, etc. I'm not an idiot so that's not a big deal for me, but it's still there in the back of my mind that I could get fired on my day off if I did something stupid in their car.

What kind of truck is it and are there any limitations? Could be a striped down Chevy fleet truck or a top notch king ranch. This makes a difference

I have no desire to have a company vehicle. Used to get a 750 dollar vehicle allowance, but that ended about 8 years ago. Luckily they just rolled it into my salary, so now it increases with raises, is included in bonus calcs, etc..

With inflation....I'd say you're at~$1000/month now. I'd venture to say that's what a company vehicle is "worth". But again, I'd much rather the money from a car allowance, so I can do what I want and maybe pocket the rest. I pay far less than $1000/month for my note and insurance. And I can charge mileage, which you can't do if the company is paying for fuel, maintenance, etc..

Pre order some truck nuts for that white F150 XLT baw

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I don’t know how much OT you plan on working, but if they claim it’s worth $10/hr “or more” then tell them to pay you an extra $25,000 - $30,000 a year and you’ll get your own truck.

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it's one thing if it's strictly a perk versus you actually need that truck to perform your job related tasks, if that's the case it's just a tool that they are issuing you, shouldn't be part of the compensation package

Does it come with truck nuts?

Gas/insurance/wear and tear on the company's dime sounds great.