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A company car allowance is a predetermined sum paid to an employee as compensation for driving her own vehicle for business reasons. Companies use car allowances to minimize accounting costs. Once an employee has been allocated a car allowance, that amount is simply added to the employee's paycheck. For example, if the car allowance is $500 per month, this sum is paid to the employee via her paycheck.
Consequently, the average car allowance is about the same as the IRS standard mileage rate. However, the cost to a company of paying a car allowance is higher than it is when a mileage reimbursement model is used and the employee ends up with less money after taxes.