Driving Certainty in FAVR Plans with Better Processes
AutoReimbursement.com is the leading software management program in the Fixed and Variable Rate (FAVR) industry. Our exclusive program brings certainty to drivers and plan administrators— Welcome to the leader in Vehicle Cost Data.
Driver's reimbursements are calculated from a benchmark vehicle. Furthermore, the reimbursement is based on the driver's geographical location. Therefore, a FAVR program calculates direct costs the driver incurs daily. Not only this, drivers can purchase the vehicle they want.
There are two main parts to a FAVR Vehicle Reimbursement Program. - Fixed reimbursement: Vehicle deprecation, insurance, license, registration, and property tax. - Variable reimbursement: Cost of fuel, maintenance, and tires per mile. This changes based on mileage driven each month.
We provide IRS-approved non-taxable FAVR programs and other reimbursement solutions from small enterprises to Fortune 500-sized companies. Our program is cost-efficient for companies with ten drivers to over 10,000 drivers.
Why AutoReimbursement.com FAVR? - No supply chain issues/procurement challenges - Updating benchmark vehicles yearly (insurance, property taxes, depreciation, tires, maintenance) and fuel monthly - HR defensible using extensive ARC insurance and vehicle data - Program management - Limit risk with ARC compliance reporting (exposure only during working hours) - Sortable reports in the cloud help you build custom queries that export to excel - Cost center reporting
If you have employees that drive for business, and have a wish to move to a reimbursement model; a Fixed and Variable Rate (FAVR) Plan can help you reduce risk, policy issues, and cost while allowing your employees to drive a car they prefer to drive and fits their lifestyle. Read More
An IRS non-taxable FAVR Plan accounts for the fixed costs, such as depreciation and zip code sensitive insurance data, and the per mile (variable) costs, such as fuel, maintenance, and tires. This enables you to reimburse employees for the actual costs of owning, maintaining, and driving a... Read More
