# Upon closer analysis, however, there are circumstances when renting a car instead of driving your own may indeed be the economically wise choice.

Save this PDF as:

Size: px
Start display at page:

Download "Upon closer analysis, however, there are circumstances when renting a car instead of driving your own may indeed be the economically wise choice."

## Transcription

2 Table A: Fixed and Variable cost of Renting a Vehicle (Dollars per Mile) Fixed/ Variable Owned Vehicle 1 Discretionary Rental Cost Differential Gas 2 Fixed \$ \$ \$0.00 Oil 4 Variable Maintenance and repairs Variable Tires Variable Insurance (of owned vehicle) Fixed Registration, licenses, and taxes* Fixed Depreciation Fixed Finance charge (of owned vehicle) Fixed TOTAL cost per mile (dollars) \$ \$ \$ AAA; Ward's Motor Vehicle Facts & Figures 2010, 15,000 miles per year 2. \$4.15 per gallon, 24 "real world" m.p.g. 3. Even though these costs appear in the rental column, they are associated with the vehicle that the consumer owns. Even though the owned car is not being used when the consumer is renting a car, these costs of the owned car are being incurred. 4. \$25 per oil change, 4 times a year 5. The average depreciation rate per mile from was cents, according to IRSi. Thus the cost of leaving a vehicle at home (and not accruing mileage) is the fixed portion of the depreciation (\$ per mile) This data suggests that a vehicle owner who owned a vehicle for five years and drove 15,000 miles per year could save approximately 24 cents (\$0.2371) per mile when driving a rental car (not including the cost of rental). From there, we can factor in the cost of renting the car and the number of miles a driver wishes to travel. But before we move on to that, it s important to expand on a couple of points in the above data. First, this analysis treats a portion of depreciation as a variable cost. All things being equal, a vehicle with fewer miles is more highly valued in the used car market. Thus, by providing the opportunity to put fewer miles on an older vehicle, renting can further reduce that vehicle s rate of depreciation.

3 Second, the maintenance costs noted above are those associated with the first five years of vehicle ownership. According to R. L. Polk, the average age of passenger vehicles is nearly 11 years. Further, according to one study, the average U.S. household s automobile expenditures rise with age, peaking around age five, dropping in year seven, steadily rising until year 10, and then dropping again i. This data points to an important issue that all vehicle owners face: as vehicles age, maintenance and repair costs increase. By focusing on the average vehicle s first five years, therefore, the maintenance and repair cost used in the above cost analysis may be underestimated. If you own a vehicle that s more than five years old, these costs most certainly are higher making the leisure rental option even more financially enticing. Rental vs. Owned Car for a Weekend Getaway For this analysis, we will use the weekend rates often offered by Enterprise (\$9.99 per day for compact, \$19.99 per day for full size). The rental is for three days (4:00 pm Friday 8:30 am Monday) ii and assumes the maximum 300 miles included in the weekend rates. Because there are so many variable costs when renting (licensing, excise taxes, etc.), we have included an added cost of 15 percent (\$4.50 for a compact, and \$9.00 for a full size car). We have not included the cost of optional collision damage waiver or insurance coverage. Table B: Rental Car Costs Rental Fee Three days (+)Added Costs 6 (taxes, licensing fee, excise taxes, etc.) (=)Total Cost of Rental Cost per mile (300 miles) Compact car \$29.97 \$ 4.50 \$34.47 \$0.12 Full size car \$59.97 \$9.00 \$68.97 \$ Added costs are assumed to be 15 percent of rental fees. When we use the rental costs in Table B and the operating costs per mile from Table A to make our comparison, the data indicates that renting a car may actually be the economically smart move. The results are shown in Table C. Table C: Comparison of Driving Owned Car and Rental Car Per Mile (+)Cost per mile (+)Cost per mile of personal of Rental vehicle (=)Total Cost for Vehicle Driving own car \$0.63 \$0.00 \$0.63 Rental car (Compact) \$0.39 \$0.12 \$0.51 Rental car (Full Size) \$0.39 \$0.23 \$0.62

4 According to the data, based on a 300-mile trip, it would cost \$0.63 per mile to drive a personal vehicle, \$0.51 per mile to drive a compact rental car, and \$0.62 per mile to drive a full-size rental car. Thus, the cost of renting a car is offset by the savings in depreciation and variable costs such as maintenance. And, if you rent a compact car, the savings per mile can be significant. This analysis could be also applied to weekend trips of greater distances. The weekend rate includes a daily maximum mileage of 100 miles (3 day rental times 100 miles per day equals 300 miles). However, the renter can purchase the unlimited mileage option for an additional \$10.00 per day. Table D shows the additional costs of a higher mileage rental. Given the additional charges for excess mileage, the cost-benefit analysis becomes even more inviting. A weekend trip of 700 miles would (again) cost \$0.63 per mile to drive a personal vehicle. The longer trip would result in cost of \$0.49 per mile to drive a compact rental car, and \$0.54 per mile to drive a full-size rental car. The table shows that both rentals become much more enticing at the higher mileage rates. Table D: Comparison of Driving Owned Car and Rental Car Per Mile (700 Mile Trip) Cost of Rental (base fee plus 15% taxes) (+)\$10 per day mileage overage charge (plus 15% taxes) (=)Total Cost of rental Cost per mile of Rental Vehicle (700 miles) 7 (+) Cost per mile of personal vehicle (=)Total per mile Cost for Vehicle Driving own car Rental car (Compact) Rental car (Full Size) \$0.63 \$0.63 \$34.97 \$34.50 \$69.47 \$ Although mileage overage is for miles above 300, the added cost was treated as a portion of the overall rental price, and allocated evenly to all miles driven. A final thought on this exercise: As gasoline prices continue to rise, it can make a significant difference for a driver who chooses to rent a compact car. Current compacts get a real-world average fuel economy of about 26 mpg. In the case of a renter who has an older, larger vehicle, with a real-world fuel economy of 18 mpg, the fuel savings could be more than \$20.00 per 300 miles at a higher price of \$4.15 per gallon.

6 i According to R. L. Polk, the average age of passenger vehicles is nearly 11 years. Without a doubt, older vehicles depreciate more slowly than new cars. While depreciation is often considered a fixed cost, a portion of depreciation is in reality variable. Vehicle depreciation is generally driven by two factors: age and mileage. One way to isolate the impact of mileage on depreciation is to consider the IRS average depreciation rate per mile from 2000 to This depreciation rate per mile is typically used for calculating the residual value of business vehicles. It includes only mileage driven the age of the vehicle is not considered. Because the rate changes over time, the average rate from 2000 to 2010 is calculated and the result (17.63 cent/mile) is deducted from the general depreciation. This method suggests that up to 74 percent of vehicle depreciation may come from the usage of the vehicle, and the remaining decline is due to the vehicle age. While far from perfect, this method provides some insight into the role mileage plays in depreciation and can offer a measure of the value saved by not driving a vehicle. ii The three-day rental was chosen due to the fact that most neighborhood locations have limited hours on Sunday. It also allowed for a higher mileage rental of 100 miles per day. Alternatively, a two day rental would limit the driver to 200 miles. With a \$0.20 per mile fee for more than 100 miles per day (or a \$10 per day unlimited mileage option), the three-day rental becomes economically reasonable for a weekend getaway of any significant distance. Further, timing becomes an issue. A two day rental (48 hours) limits the ability to take full advantage of the weekend, while a three day rental (72 hours) allows the vacation to begin Friday afternoon, and return Sunday evening.

### Are we being asked to pay enough to support our national highway and transit network?

Are we being asked to pay enough to support our national highway and transit network? Highlights: Last year, the average American driver traveled 11,400 miles in their car or light truck, bought 529 gallons

### Consumer Math Notes 9.1-2. Purchasing a New Vehicle/ Dealer s Cost. A vehicle s shows all charges for the vehicle.

Consumer Math Notes 9.1-2 Name Hour Purchasing a New Vehicle/ Dealer s Cost A vehicle s shows all charges for the vehicle. = the price of he vehicle s engine, chassis and any other standard equipment for

### Student Activities. Lesson Nine. Cars and Loans 04/09

Student Activities \$ Lesson Nine Cars and Loans 04/09 operating costs of a motor vehicle model year make, size, model fixed costs Depreciation: Purchase price \$ divided by estimated life years \$ Annual

### Pickup & Drop off Location: 3152 Lebanon Rd, Manheim, PA 17545 Phone: (888) 206-9748

Pickup & Drop off Location: 3152 Lebanon Rd, Manheim, PA 17545 Phone: (888) 206-9748 First Name: Last Name Phone: Address: City: State: Zip: Email D.O.B / / Driver s License Information Number Expiration

### Cars and Insurance - Getting a Set of Wheels

Name Period All Classes Cars and Insurance - Getting a Set of Wheels Overview Few of us live, work, and shop within a small geographic area. Most of us need transportation to go to work or school or for

### AAA Association Communication 1000 AAA Drive Heathrow, FL

AAA Association Communication 1000 AAA Drive Heathrow, FL 32746-5063 www.aaa.com AAA acknowledges Runzheimer International for help in preparing the automotive costs presented in this booklet. Contents

### Updated on January, 2008 Contact: Lesley Weiner CooperKatz lweiner@cooperkatz.com 212-455-8079

Updated on January, 2008 Contact: Lesley Weiner CooperKatz lweiner@cooperkatz.com 212-455-8079 FREQUENTLY ASKED QUESTIONS General Zipcar Questions What is Zipcar? Zipcar is the world s largest car sharing

### Fleet Management Division. Current Solutions for Efficient Daily Travel

Fleet Management Division Current Solutions for Efficient Daily Travel Key Topics I. Mileage Reimbursement vs. Rental what s better? II. How to Reserve Fleet s Vehicles Online? III. How to Handle Agency

### lesson nine cars and loans overheads

lesson nine cars and loans overheads the cost of owning and operating a motor vehicle ownership (fixed) costs: Depreciation (based on purchase price) Interest on loan (if buying on credit) Insurance Registration

### AUTOMOBILE EXPENSES & RECORDKEEPING

February 2015 CONTENTS Who should keep records? Expenses to track Deductible expenses Keeping a kilometre log Business vs. personal Other motor vehicles The standby charge GST/HST and QST considerations

### Arlington Soccer Association (ASA) GOVERNING AND OPERATING POLICIES. Section: Finance Policies Number: Subject: Business Travel Date: revised 8/9/2011

Arlington Soccer Association (ASA) GOVERNING AND OPERATING POLICIES Section: Finance Policies Number: Subject: Business Travel Date: revised 8/9/2011 1.0 PURPOSE As employees of Arlington Soccer Association

### Canadian Automobile Association. 2009 Edition. (Updated January 2009) Driving Costs

Canadian Automobile Association 2009 Edition (Updated January 2009) Driving Costs DRIVING COSTS 2009 The Canadian Automobile Association s (CAA) Driving Costs brochure can help you calculate how much it

### Final Draft Final Report on

Final Draft Final Report on for the February 2012 MERCURY ASSOCIATES, INC. February 24, 2012 Mr. Tim Ryburn, Administrator Iowa Department of Administrative Services General Services, Enterprise 109 S.E.

### Aut o m o t i v e Ex p e n s e s

15 Chapter 3 Aut o m o t i v e Ex p e n s e s Think Safety Budgeting for routine maintenance is important to your safety. Potentially hazardous situations can be avoided by doing maintenance on your vehicle

### G. Lifecycle Cost Analysis

NAFA s Fleet Acquisition and Disposal Guide G. Lifecycle Cost Analysis Who Provides? Employer Provided How Acquire? Employee Provided Own Lease Rent How Reimburse? What Acquire? 1. Introduction Two of

### WELLESLEY COLLEGE TRAVEL POLICIES AND PROCEDURES

WELLESLEY COLLEGE TRAVEL POLICIES AND PROCEDURES The purpose of this document is to establish and communicate equitable standards and effective procedures for reducing travel costs while complying with

### Testimony Of Dennis J. Enright Before Texas State Senate Committee on Transportation and Homeland Security August 12, 2008

Testimony Of Dennis J. Enright Before Texas State Senate Committee on Transportation and Homeland Security August 12, 2008 Since the last time I had a chance to address this committee in 2006 much has

### Student Activities. Lesson Nine. Cars and Loans. Practical_Money Skills for Life 04/09

Student Activities Lesson Nine Cars and Loans Practical_Money Skills for Life 04/09 name: operating costs of a motor vehicle model year make, size, model fixed costs Depreciation: Purchase price \$ divided

### 9-1. Find the sticker price. 1. 2. 3. 4.

9-1 Computing the Sticker Price of a New Vehicle A new vehicle is required by law to have a sticker price on its window. Included in this price are: the base price, which includes the cost of the engine,

### 1. the standard mileage rate method; or. 2. the actual expense method.

S ection 6 CAR AND TRUCK EXPENSES Mastering Tax Preparation Car and for Sole Truck Proprietors Expenses Introduction If a proprietor owns or leases a vehicle that is used for business purposes, the proprietorship

### Student Activities. Lesson Eight. Cars And Loans 04/09

Student Activities \$ Lesson Eight Cars And Loans 04/09 the operating costs of a car Model year Make, size, model Fixed costs Depreciation: Purchase price \$ divided by estimated life of years \$ Annual insurance

### Business Expense Log. Year of

Business Expense Log Year of 5206 Gateway Centre Suite 100 Flint, Michigan 48507 Tel. 810.238.4617 877.244.1787 Fax 810.238.5083 www.lewis-knopf.com Business Expense Log Business Expense Log 2008 UARY

### \$uccessful Start, Sponsored by the Office of Student Services, Presents: HOW TO PLAN FOR MAJOR PURCHASES

\$uccessful Start, Sponsored by the Office of Student Services, Presents: HOW TO PLAN FOR MAJOR PURCHASES MAJOR PURCHASES Borrowing money Car Options* Leasing (or do you want to own a wasting asset) Buying

### Behind the Numbers. AAA.com AAA.com/PublicAffairs

Behind the Numbers AAA is a federation of motor clubs serving more than 54 million members in the United States and Canada through more than 1,100 offices. Founded in 1902, AAA is a not-for-profit, fully

### Buying a Car. A Car Means Convenience. Which Car is Right for You?

Buying a Car A Car Means Convenience It s Wednesday morning and you are sleeping soundly, dreaming about that Hawaiian vacation you d like to take. Suddenly you hear, instead of ocean waves, a loud buzz.

### How to Reduce Fleet Costs \$\$\$

How to Reduce Fleet Costs \$\$\$ Smaller fleet Reduce Vehicle Miles Traveled (VMT) Get more miles per gallon Lower fuel cost Reduce vehicle lifecycle cost Lower acquisition cost Higher resale Lower maintenance

### Insurance Primer. Collector Car Insurance

Insurance Primer A Crash Course in Collector Car Insurance Finally, you own the vehicle you ve spent a lifetime dreaming about. Now what? The next step is to protect your investment. Auto policies covering

### Analysis of Fleet Replacement Lifecycle

Analysis of Fleet Replacement Lifecycle Project #12-14 Prepared by Office of the Inspector General J. Timothy Beirnes, CPA, Inspector General TABLE OF CONTENTS BACKGROUND... 1 OBJECTIVE, SCOPE, AND METHODOLOGY...

### Applying for Membership

Applying for Membership How do I enroll? Go to: www.zipcar.com/vanderbilt Click on I am a Vanderbilt student or I am Vanderbilt faculty or staff and follow the instructions. Vanderbilt Departments should

### IMPLEMENTING TRUCK RENTALS AT YOUR FACILITY

IMPLEMENTING TRUCK RENTALS AT YOUR FACILITY You ve decided you would like to offer trucks to your tenants A rental truck is an excellent source of ancillary income with a proven track record across the

### Lease vs. Buy How to Choose. Presenter Gary Hatfield, Mercury Associates

Lease vs. Buy How to Choose Presenter Gary Hatfield, Mercury Associates Basics of Fleet Costs: Typical Dollar Indirect Costs \$.02 Maintenance & Repair \$.34 Depreciation \$.45 Fuel \$.19 What are the fixed

### Vision Fleet: Fleet Assessment Overview Alternative fuel vehicles for fleets: Low Cost, Low Carbon, Low Hassle

Vision Fleet: Fleet Assessment Overview Alternative fuel vehicles for fleets: Low Cost, Low Carbon, Low Hassle Overview: A Vision Fleet Opportunity Assessment is both quantitative and qualitative and will

### Automobile Expenses For the Self-Employed

Automobile Expenses For the Self-Employed COPYRIGHT Ledgers Canada All rights reserved. No part of this manual may be reproduced in whole or in part, stored in a retrieval system, or transmitted, in any

### Introduction. How company cars are taxed. Calculating the cash equivalent

Introduction Company cars remain a popular employment-related benefit despite the generally high income tax charges on them. The tax charge on company cars cars provided to employees by their employers

Frequently Asked Questions about the Enterprise Rental Car Contract 1. Where is the Enterprise Office supporting the Clemson University vehicle rental contract? The Enterprise Rent-A-Car office supporting

### As a guide, the following are examples of some of the expenses we can allow:

How do I know if I m self-employed? A person is self-employed if they are gainfully employed but are not under a contract of service with an employer. You may be a sole trader or in a business partnership.

### CONTACTS & WORKING HOURS

MOTOR INSURANCE CONTACTS & WORKING HOURS Head office BNH Tower, Seef District P.O. Box 843, Manama, Kingdom of Bahrain Tel.: 17587444, Fax: 17583477 E-mail: motor@bnhgroup.com Website: www.bnidirect.com

### UBER PARTNER REPORTING GUIDE

Required to File a Return? In most cases, you will be required to file a Form 1040 and attach Schedule C and Schedule SE to report your earnings from being an Uber partner. If you have net earnings (not

### MBA Teaching Note 08-02 Net Present Value Analysis of the Purchase of a Hybrid Automobile 1

MBA Teaching Note 08-02 Net Present Value Analysis of the Purchase of a Hybrid Automobile 1 In this day and age of high energy prices and a desire to be more environmentally friendly, the automobile industry

### Running an Informal Car Club. Guidance Note

Running an Informal Car Club Guidance Note May 2012 Guidance Note: Running an informal car club Published by Carplus, May 2012 1 Contents About Carplus... 3 This document... 3 Running an informal Car Club...

### You just realized that with work, school, sports and other obligations you REALLY need a set of wheels.

Introduction You just realized that with work, school, sports and other obligations you REALLY need a set of wheels. But what is it going to cost? And Your budget only allows you 400 a month! And you have

### THE TAXATION OF COMPANY CARS. Calculating the cash equivalent

THE TAXATION OF COMPANY CARS Company cars remain a popular employment-related benefit despite the fact that income tax charges on them are generally high. The benefit of having a company car available

### Behind the Numbers. AAA.com AAA.com/PublicAffairs

Behind the Numbers AAA is a federation of motor clubs serving more than 54 million members in the United States and Canada through more than 1,100 offices. Founded in 1902, AAA is a not-for-profit, fully

### YOUR DRIVING COSTS. How much are you really paying to drive?

2013 Edition YOUR DRIVING COSTS How much are you really paying to drive? How Much Does it Cost to Drive? Following are average per-mile costs as determined by AAA and the composite average cost for three

### Car Costs ASSESSMENT ONE: Assessment #1

Assessment #1 ASSESSMENT ONE: Knowledge ο T / F You must register your car with the Department of Motor Vehicles (DMV) once every two years. ο T / F Being able to afford a car involves more than being

### USE OF STATE VEHICLES

ILLINOIS PRISONER REVIEW BOARD POLICY, VEHICLE USAGE RESCINDS: N/A ESTABLISHED: 09/11/2014 RELATED DOCUMENTS: DISTRIBUTION: All PRB Board Members and employees Office/desk copy Employees working for the

### Unit #2 Math and Your Car

Unit #2 Math and Your Car Name Date Period ~ 0 ~ Choosing your Cars To start this unit, you are going to choose three cars online. You will be using these cars to investigate car loans and calculate the

### STATE OWNED OR LEASED FLEET VEHICLE USE PROCEDURE

I. General Rules A. State owned or leased vehicles will be used for official state business only. B. Authorized drivers of vehicles are state employees, students, workstudy students and student employees

### Compressed Natural Gas Study for Westport Light Duty, Inc. Kelley Blue Book Irvine, California April 3, 2012

Compressed Natural Gas Study for Westport Light Duty, Inc. Kelley Blue Book Irvine, California April 3, 2012 2 Overview Westport Light Duty is part of the Westport Innovations company, a leader in the

### Contact Information E-mail address: Bryan.Schumacher.1@sendit.nodak.edu Phone: 701-452-2990

CDFS 600 Module Assignments Lesson Plan Template List which Module this lesson plan covers: MODULE 1 Title of Lesson/Subject: Prepared by: Managing expenses of your first automobile Bryan Schumacher Contact

### The hidden costs of being an Uber driver

The hidden costs of being an Uber driver By Joann Weiner February 20, 2015 A man leaves the headquarters of Uber in San Francisco. (AP Photo/Eric Risberg) Be your own boss and leave the drudgery of the

### insurance auto insurance

insurance auto insurance our mission The mission of The USAA Educational Foundation is to help consumers make informed decisions by providing information on financial management, safety concerns and significant

### Travel and Expense Reimbursement Policy

Travel and Expense Reimbursement Policy Scope of Policy & Rationale Temple University is a state-related institution whose primary mission is to serve its students. As such, the University strives to ensure

### Your Driving Costs. How much are you really paying to drive? 2009 Edition. Behind the Numbers. AAA is a federation of motor clubs serving more than

Behind the Numbers AAA is a federation of motor clubs serving more than 51 million members in the United States and Canada through more than 1,100 offices. Founded in 1902, AAA is a not-for-profit, fully

### Coverage for Replacement Transportation

Claims Coverage for Replacement Transportation We ll explain your coverage clearly Transportation when your vehicle is stolen or damaged Special policies September 2003 Coverage in Autopac covers replacement

### White Paper spring 2010 FLEET MANAGEMENT SERVICES: BEST PRACTICES

White Paper spring 2010 FLEET MANAGEMENT SERVICES: BEST PRACTICES What is fleet management? Fleet management services can go a long way in ensuring that your fleet is safe, legal, and running properly.

### NOTICE TO PROSPECTIVE BORROWER

NOTICE TO PROSPECTIVE BORROWER We are pleased that you are able to use The Sandie Hea Community Moving Truck for your moving needs. It is available for a 24-hour period which can be extended with permission.

### Illustration 1.0: Wrapped mini-van used to transport patients to Concentra Urgent Care, Los Angeles.

The Business Case for Providing a Company Car and the Marketing Value of Wrapped Vehicles Alan A. Ayers, MBA, MAcc Board of Directors and Content Advisor, Urgent Care Association of America Associate Editor,

### Enterprise/National New State Provider for Rental Cars

Enterprise/National New State Provider for Rental Cars Palm Beach State College is pleased to announce that effective immediately the direct link for PBSC has been established for the state s new rental

### Own or lease: are you making the right choice for your truck fleet?

Article Own or lease: are you making the right choice for your truck fleet? 40 Volume 5 Issue 1 Do you know if leasing versus owning your fleet of trucks is the right choice? Many fleet owners may answer

### Fashion Institute of Technology OPERATIONAL SERVICES

Fashion Institute of Technology OPERATIONAL SERVICES Motor Vehicle Use Manual 2010 Table of Contents 1. Introduction............................................. 1 1.1 Purpose and Application of Manual..........................

### Presentation Slides. Lesson Nine. Cars and Loans 04/09

Presentation Slides \$ Lesson Nine Cars and Loans 04/09 costs of owning and operating a motor vehicle ownership (fixed) costs: Depreciation (based on purchase price) Interest on loan (if buying on credit)

### Governance & Policies

Governance & Policies Effective: July 1, 2009 Administrative Policy TRAVEL EXPENSE REGULATIONS Approved: September 1, 2009 President s Cabinet General Policy These travel expense regulations are applicable

### A Fuel Cost Comparison of Electric and Gas-Powered Vehicles

\$ / gl \$ / kwh A Fuel Cost Comparison of Electric and Gas-Powered Vehicles Lawrence V. Fulton, McCoy College of Business Administration, Texas State University, lf25@txstate.edu Nathaniel D. Bastian, University

### 1999 Instructions for Schedule E, Supplemental Income and Loss

1999 Instructions for Schedule E, Supplemental Income Loss Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, residual

### Healthcare Solutions, Inc. Travel & Expense Reimbursement Policy

Healthcare Solutions, Inc. Travel & Expense Reimbursement Policy Overview The purpose of this policy is to provide guidelines for fair and consistent travel and business expense practices for all staff

### Name: Address: City, State, Zip: Fax Number: Home Phone: Email Address: Flight Arrival and Departure Information

FLORIDA VAN RENTALS DBA DISCOUNT MOBILITY USA, INC. 6307 Hansel Avenue * Orlando, Florida 32809 (800) 308-2503 * (407) 438-8010 * Fax (407) 447-5312 Rental Information Form Name: Address: City, State,

### TAX DEPRECIATION OF VEHICLES

Section 8 TAX DEPRECIATION OF VEHICLES Introduction For tax depreciation purposes, a vehicle is generally placed into one of three general categories. Some categories have dollar limits on Section 179

### personal use charges increased in

average monthly PERSO The annual study of personal use fees finds increased charges and changes to the conditions and factors governing vehicle assignment. BY LAUREN FLETCHER personal use charges increased

### OFFICE OF MANAGEMENT AND ENTERPRISE SERVICES

OFFICE OF MANAGEMENT AND ENTERPRISE SERVICES FLEET MANAGEMENT DEPARTMENT ADMINISTRATIVE RULES OAC 260:75 Including revisions effective Sep 12, 2014 Notice: The rules found on this Web site are unofficial.

### Share me. Choosing the right fleet option for your company

Light Commercial Vehicle Acquisition Hire or Buy? Choosing the right fleet option for your company 1 Contents Hiring or buying LCVs. Why does it matter? Fleet ownership the benefits Fleet ownership the

Licence Plate Insurance... 2 Why Plate Insurance Isn t Enough... 3 Added Liability Protection... 4 Family Protection Coverage... 4 Vehicle Damage Deductible... 5 Accident Benefits... 5 Non-Owned Driver

### FIGURE 1 AVERAGE UNLEADED RETAIL GAS PRICE, SAN DIEGO COUNTY, SEPT-OCT 2012

Short-run Driver Response to a Gasoline Price Spike: Evidence from San Diego, CA Andrew Narwold University of San Diego Dirk Yandell University of San Diego Drivers response to an unexpected gasoline price

### Claiming Transportation Expenses

Claiming Transportation Expenses TABLE OF CONTENTS 1. RESOURCES... 1 2. TRAINING OBJECTIVES... 2 3. OVERVIEW... 3 4. TAX HOME... 4 5. WHAT KINDS OF TRANSPORTATION RELATED EXPENSES CAN BE CLAIMED?... 6

### TAX GUIDE FOR THE TAXI AND SHUTTLE INDUSTRIES

TAX GUIDE FOR THE TAXI AND SHUTTLE INDUSTRIES Information to help your business IR 135 October 2010 Help is at hand This tax guide gives you, as a self-employed person, an overview of your tax entitlements

### AUTO INSURANCE OUR MISSION IS YOU. AUTOMOBILE INSURANCE. www.afi.org

AUTO INSURANCE OUR MISSION IS YOU. AUTOMOBILE INSURANCE www.afi.org Our Mission Like those who serve our nation, AFI is dedicated to delivering protection and peace of mind. Our unwavering commitment to

### Financial Responsibility. Costs of Owning a Vehicle Trip Planning

Mod 10 Financial Responsibility Buying a Used Vehicle Costs of Owning a Vehicle Trip Planning Financial Responsibility Law \$ Minimum liability coverage \$ \$500 Uninsured motorist fee Virginia Auto Insurance

### KENTUCKY FINANCE AND ADMINISTRATION CABINET. Guide for Drivers of the Commonw ealt h s Vehicles

KENTUCKY FINANCE AND ADMINISTRATION CABINET Guide for Drivers of the Commonw ealt h s Vehicles Guide for Drivers of the Commonwealth s Vehicles Table of Contents APPLICABILITY... 3 THE STATE-WIDE MOTOR

### THE COOPER UNION POLICIES AND PROCEDURES TRAVEL/ BUSINESS EXPENSES

THE COOPER UNION POLICIES AND PROCEDURES TRAVEL/ BUSINESS EXPENSES I. Statement of Policy This policy sets general guidelines for acceptable types and levels of reimbursable or chargeable expenses and

### Feasibility and Insurance Options for Ride Programs

Feasibility and Insurance Options for Ride Programs propriate McNair Illustration Here POTENTIAL USE OF RIDE PROGRAM WILL BE DETERMINED BY: Numbers of seniors in the catchment area Alternatives available

Accident Benefits... 5 Added Liability Protection... 4 Affordable Premiums... 7 Coverage Summary Charts Commercial Vehicles... 9 Private Passenger Vehicles... 8 Family Protection Coverage... 4 Licence

### GAS WATCHER S GUIDE. Tips for Conserving Fuel, Saving Money and Protecting the Environment

GAS WATCHER S GUIDE Tips for Conserving Fuel, Saving Money and Protecting the Environment Gas Watcher s Guide Responsible use of energy is learned behavior. To conserve, we must slow down and find ways

### The goal today is to accomplish three things:

MARK SHERMAN, CPA The goal today is to accomplish three things: 1. Educate you on The Mortgage Forgiveness Debt Relief Act of 2007. 2. Show you how to save taxes on your real estate business. 3. Help you

Policy Title: TRAVEL AND EXPENSE REIMBURSEMENT MSTC ADMINISTRATIVE POLICY Policy Section: FISCAL MANAGEMENT This administrative policy identifies the essential activities and responsibilities of the employees

### 2012 Edition. Your Driving Costs. How much are you really paying to drive?

2012 Edition Your Driving Costs How much are you really paying to drive? How Much Does it Cost to Drive? Following are average per-mile costs as determined by AAA and the composite average cost for three

### State of Illinois. Department of Insurance VEHICLE POLICY

State of Illinois Department of Insurance VEHICLE POLICY Revisions 01/22/2014 This guide is provided as a convenient and quick reference for drivers. STATE OF ILLINOIS DEPARTMENT OF INSURANCE VEHICLE GUIDE

### Car Costs CAR COSTS. Should I Be Listening? HIGH COSTS OF INSURANCE BEFORE YOU GO CAR SHOPPING WARRANTY INFORMATION INSURANCE TALK KEEPING DOWN THE

TEEN GUIDE moneytalks4teens.org Should I Be Listening? Car Costs What kind of car is right for you? A black sports car? A red truck? A silver economy car? Uncle Henry s old minivan? If you are like most

### INDIANA STATE UNIVERSITY VEHICLE GUIDELINES AND PROCEDURES

INDIANA STATE UNIVERSITY VEHICLE GUIDELINES AND PROCEDURES PURPOSE The purpose of this document is to clarify Indiana State University guidelines and procedures regarding use of University vehicles, which

### lesson nine cars and loans overheads

lesson nine cars and loans overheads the cost of owning and operating a car ownership (fixed) costs: Depreciation (based on purchase price) Interest on loan (if buying on credit) Insurance Registration

### Transportation Cost and Benefit Analysis Vehicle Costs Victoria Transport Policy Institute (www.vtpi.org)

5.1 Vehicle Costs This chapter examines direct financial costs of vehicle use. These are divided into fixed costs, which are unaffected by mileage, and variable costs, which increase with mileage. This

### TRANSPORTATION EXPENDITURE REPORT 2014-15

Michigan Department of Education Office of Special Education TRANSPORTATION EXPENDITURE REPORT 2014-15 General Instructions 1. The SE-4094 covers expenditures for the school year July 1 to June 30. 2.

### Enterprise Rent-A-Car Discounted Rates for Employees and Retirees

Progress Energy/Enterprise Contract Number XZ53131 PIN: PRO 1. Enterprise rental vehicles are available at discounted rates to Progress Energy employees (includes active, inactive, and retired employees)

Van Services Transportation Services coordinates the rental of University vans to assist the transportation needs of faculty, staff, students and University sanctioned organizations conducting official

### Deferral Limits for Plans 401(k) \$17,000 \$17,500 SIMPLE \$11,500 \$11,500 403(b) \$17,000 \$17,500 457 \$17,000 \$17,500

Kathleen E. Sweeney, CPA PO Box 1259, 44 Plymouth Street PO Box 1187 Center Harbor, NH 03226 N. Conway, NH 03860 Phone: (603) 253-4011 603-356-7036 Fax: (603) 253-4051 603-733-5250 E-Mail: ksweeney@metrocast.net

### Budgeting Entering the Workforce

Budgeting Entering the Workforce LESSON PREPARATION AND TEACHER INFORMATION Lesson Summary: This lesson is intended for high school students during a forty minute time period. The lesson teaches students

### Your Driving Costs. How much are you really paying to drive? Behind the Numbers

Behind the Numbers AAA is a federation of motor clubs serving more than 49 million members in the United States and Canada through more than 1,100 offices. Founded in 1902, AAA is a not-for-profit, fully