Things to Consider When Buying a Car for Your Business

Featured image by Vlad Grebenyev on Unsplash

If your company is growing, you might be thinking about buying a car for your business. You might even want to respond by providing your employees with a company car.

However, with so many things to think about when choosing the right vehicle, it’s hard to prioritize. How can you find something practical that also represents your brand professionally?

In this guide we’ve outlined the most important considerations to help you choose the vehicle best suited to your business.

Go Electric

Some governments have announced a ban on the sale of all new fossil-fueled cars by 2030. This makes the prospect of choosing an electric vehicle more inviting than ever. Plus, you’ll save money on taxes if you choose a more economical vehicle.

With 68% of all company cars still using diesel fuel, there’s never been a better opportunity to make your business stand out. Purchase an all-electric fleet to reflect your commitment to sustainability and environmental concerns.

Does Age Matter When You’re Buying a Car for Your Business?

A great option could be to buy a decent quality, economical used car instead of ordering brand new from the manufacturer.

By opting for a used car for your business you could end up with a much more reliable vehicle without compromising on aesthetics or quality. Some models are timeless and drive just as well after a few years.

Choose a Brand and Style to Align with Your Company Image

With so many vehicle manufacturers, colors, and models to choose from, it’s difficult to decide.

For size, you’ll need to think about how many of your employees will be using the car at once. For the whole team, an SUV could be a sensible option. If you only have one or two staff members needing to be mobile, perhaps a smaller sedan or station wagon would be more suitable.

Your Budget Matters When You’re Buying a Car for Your Business

It’s easy to get carried away with fantasies in the planning process, but you need to stay grounded and choose a realistic option for your company budget.

Consider whether leasing or buying would be the best option for your business. Would reducing long-term costs by buying upfront be more helpful?

Don’t forget that you’ll need to pay tax in line with your choice. Benefit in kind tax on company cars is based on more than just the carbon dioxide emissions. The list price is also included in the calculations. In other words, the more you pay for the car, the more you’ll pay in tax.

Don’t Forget About the Aesthetics

Of course, when you’re buying a car for your business, you’ll want to choose one that looks good, too.

And finally, with more than 70% of people admitting they would be concerned for their health in a shared vehicle in the wake of the pandemic, you need to provide an incentive for your employees. This might be a very good reason to buy a car for your business.

If you plan carefully and do your research, your company car could be a great investment.

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