It is but at a hilariously cheap rate. It’s pennies on the dollar (or euro, in this case) compared to owning a car outright.

It’s a fringe benefit that was invented in order to enable employers to sweeten the pay package without having to straight up pay more, and respectively pay a lot more taxes.

We’ve a large bunch of these tax efficient fringe benefits in Belgium but the company car is by far the one that provides the most value.