Customization
The policy reflects your company's goals and priorities.
How does a FAVR vehicle program work?
Driving a vehicle incurs two types of costs: fixed and variable.
FAVR, or Fixed And Variable Rate, addresses both.
FAVR, or Fixed And Variable Rate, addresses both.
Each employee receives a reimbursement rate based on
A STANDARD VEHICLE
Company-selected, job-appropriate car
TERRITORY COSTS
Geographically-sensitive costs
TERRITORY SIZE
Mileage driven within territory
What makes a FAVR reimbursement fair?
FAVR accurately addresses the costs of owning and operating a standard vehicle relative to each employee's territory costs and miles driven.
Unequal expenses should not receive equal reimbursements. Standard allowances and mileage rates over-reimburse some employees and under-reimburse others. FAVR solves this problem and is tax-free for both company and employee (IRS Revenue Procedure 2010-51).
Hallmarks of a Professional Reimbursement
Fiscal Responsibility
Tax-free, accurate reimbursements control costs.
Accuracy
Real-time data generates precise reimbursements.
Professionalism
The policy follows the latest in best practices.
Risk Mitigation
Best practices can prevent lawsuits and reduce liability.
Talent Attraction/Retention
Fair reimbursements mean happy employees.
It’s time to evaluate and implement a new policy.
Our Approach
STEP 1: DESIGN
Together, we design a solution based on your objectives
Data is our strength. We help you create a baseline for all vehicle categories to generate a customized reimbursement for each employee, based on vehicle values, fuel costs, insurance costs, and more.
STEP 2: DEVELOP
mBurse develops your new reimbursement policy and rates
We partner with you to write a clear and customized auto reimbursement policy and mileage reimbursement rate, using our data models. This demonstrates fairness and ensures continuity in how you manage reimbursing your business and drivers.
STEP 3: IMPLEMENT
mBurse implements your new program, with ongoing management
To ensure smooth, effective change management, we help you communicate the benefits of your new auto reimbursement policy. Once the policy is installed, we provide continued support for your mobile employees and administrative team to ensure you receive the full range of benefits.
Gain a competitive advantage with your vehicle program.
