Its more of a car allowence, then millage on top, when covering 100k+ a year, after 3 years the cars worth nothing or has gone pop already, hence running a banger in to the ground every year.
We do have to fork out for wear and tear and insurance, mine being £344 a year and already on my second set of tyres from april

the cars in my name, just a way round the system...
Sounds like some of you are getting some pretty poor pennies!
TBH I think your getting a pretty spectacular deal rather than others not getting a good one. To be given a company car AND to then be given 40p a mile is unheard of in my book. The 40p a mile is meant to be cover the wear and tear and insurance on a car, but seeing as its a company car non of the applies so quite how you got that deal Im not sure.