Fleet Vehicles

ASC 842 Compliance and Your Vehicle Program Lease accounting used to be a Wild West of off book expenses. The culprit? A loophole in the Generally Accepted Accounting Principles (GAAP) set forward by the U.S. Securities and Exchange Commission. But in early 2016, the Financial Accounting Standards Board (FASB) established a new set of rules…

Look at as much data as you want, visit as many fortune tellers as you can afford, the fact remains: no industry is immune to market fluctuation. Even if you aren’t particularly good at dancing, you know the steps. When the market booms, your company grows. When it busts, your company tightens its belt. What…

How Does Depreciation Impact Your Company’s Fleet Vehicles? In a recent study of over 4.1 million car sales, vehicle research site iSeeCars has recognized the 10 cars sure to depreciate the most in a three-year time span. Spoiler alert: it does not look good for owners of American and German made vehicles. The highest depreciator,…

Creating Savings With Your Retail Company’s Vehicle Program It’s hard to call any line of work easy. Selling ice cream on a hot day even comes with inevitable wrist and elbow pain. No one is about to say that working in the retail industry is easy. And with the rise of online purchasing, competition has…

What happened to the F150? After a fire at one of their suppliers on May 9th, Ford halted production of the F150. The Vincentric Best Fleet Value in America Award winner is a common company vehicle in industries with heavy lifting and off-roading requirements: oil and gas, construction, heavy equipment, forestry, fishing and agriculture. Though…

Whether you’re a small business owner supporting a few remote employees or a regional sales manager overseeing an entire mobile workforce, it’s not always easy to find the right vehicle program for your business. There are a number of factors to consider when deciding which type of vehicle program will support both the needs of…

Giving your workers access to company-owned vehicles, also known as “fleets,” can greatly benefit both employers and employees. If those fleets are not administered correctly, though, the potential benefits can quickly turn into burdens. Personal mileage reporting is a common area of confusion, particularly with so many workers now performing their duties off-site as part…

Does your organization have mobile employees? Are you trying to make sure they can get where they need to go? Chances are, you’ve considered providing company cars to help them do their jobs. Company-provided cars (fleets) can be a great option for your mobile workforce, but they also come with unique challenges. To help you…

Employers have two options for providing for their mobile workers: offering company-provided vehicles (fleets) or reimbursing employees for the business use of their personal vehicles. While both programs offer many distinct benefits, there are times when offering company vehicles makes the most sense. Below, we take a look at the most common reasons companies choose…