We still live in a society that runs on four wheels. So, logic dictates that, as your business grows, you’ll inevitably reach a point where you’ll need a fleet of cars to help yourself and your employees hit the road and expand your reach. But if you’re looking to either start or expand your business fleet, what are some of the different options you can look into and which might be suitable for your specific needs? These are the considerations you might want to make.
What do you really need?
Ask yourself why you need a fleet of cars in the first place. Perhaps you’re a takeaway business and you need nippy vehicles that can easily negotiate a busy city and make speedy deliveries? Or maybe you’re trying to expand regionally and want to send a regional sales manager out and about selling your wares across the country and picking up new clients. Whatever you need, think about it ergonomically and make your business car choice accordingly.
What would your employees prefer?
How confident about looking after their cars are your employees? Is it better to have an option where everything is done for them and they don’t have to worry about it? Or would they prefer vehicles that they can really make feel like their own?
Are there any incentives I can take advantage of?
There are numerous tax incentives associated with business vehicles but you should do your research before pulling the trigger. There are great incentives, for example, surrounding electric cars but the infrastructure to set them up might be an inconvenience for your business, depending on where you’re based. Perhaps a good old “just add fuel and go” kind of car is more your speed then? Either way, if you do your research you will almost certainly find some way to gain a solid tax incentive.
New or used?
It’s widely believed that a car loses a significant amount of its value the minute it’s driven off the forecourt and that is technically true. Cars do not hold their value and that’s why the used car market is so vast. There are obvious benefits to buying brand new, of course. It will probably last a lot longer and you might be able to negotiate a few good years of service from the dealership. But ultimately, it’s always going to be the least cost-effective option.
Could we cope without it?
The last question you should be asking yourself is if it’s really a necessary investment. Go through the pros and cons and speak with your business partners and employees and see what they think. After all, a car can be an incredibly useful thing but it’s also never going to be a minor investment.