How To Maximize Auto Repayment Rates

It’s that time of year again when everyone needs to take a weekend getaway for their families, and their auto dealerships need to stock up on their parts. This is especially true during the middle of the winter holiday rush or around the middle of Spring break. This is also the time of year that people begin purchasing cars and taking them out on the road. Some people may even want to take their family vacation but realize that the family must first have their vehicles serviced at their local dealership. So, what is an auto reimbursement specialist, and how can they help you? Let’s discuss these issues.

Auto vehicle reimbursement doesn’t need to be expensive. In fact, it can be less than the original retail price. You may not realize this, but a vehicle’s estimated retail price is typically not the same as the actual retail expense because it doesn’t include all of the expenses that are incurred during the preparation, repair, and service process. Here are some of the items that are usually included in the vehicle reimbursement fee:

The actual mileage is driven. Most companies calculate mileage based on the actual miles driven, not total miles logged during the workweek. Auto reimbursement specialists can often help you determine the exact number of miles driven and thus give you the correct rate for mileage driven. Typically, companies will require employees to log at least five hundred miles each year. So, if you are approaching that mark, you should be able to get a decent rate.

The car data number. An auto-reimbursement specialist will ask for your car data number. The car data number is issued to drivers when they sign up for a new auto insurance policy. Essentially, the car data number acts as a logbook for your vehicle insurance. When you are preparing to present your car data number to your technician, the technician will use the car data number to calculate the cost of the repair or replacement job.

The home health care benefits. Usually, auto reimbursement rates do not include home health care benefits. Home health care benefits are usually only available to employees who are covered by their own family member’s health insurance policy. Therefore, you may need to provide your own paperwork or explain why you are not covered under your spouse’s family plan. If your mechanic is not able to obtain your health insurance information, you may be able to provide the information in writing to your technician.

The business expense allowance. Sometimes your reimbursement will come with a business expense allowance. The business expense allowance is money that you will pay back to your employer. It is usually separate from your regular income tax withholdings, and it will be calculated based on the amount of time you spend working at your job. Calculating the business expense allowance can be complicated, so your adjuster often recommends that you provide an accurate computation.

The variable rate car data card. Many auto reimbursement companies calculate their worker’s compensation using a two-rate system. Basically, two rates are applied to the same work: one for the hourly rate and one for the semi-annual rate. By calculating your hourly rate and overtime rates based on the two different rates, you can ensure that you receive the most accurate amount of money.

The variable rates. You may also hear that your employer will reimburse you for your vehicle mileage and travel expenses. Unfortunately, many companies choose to use a fixed rate for their employees when they can deduct the fixed costs at their own expense under the tax law. To make sure that you are properly reimbursed for these types of expenses, you should request a copy of the mileage rates in your contract. For more information and reimbursement specialist, be sure to contact Warranty Part.

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