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Business Tips

Is Investing in a Company Car a Wise Move?

When you run a business, you’ll find yourself having to consider all sorts of different areas. Sure, you may be an expert in one area, but you will have to get a general understanding of every single area that your business needs to thrive – whether that’s to make decisions on it yourself or to be able to hire the right person to take care of the area for you.

One area of business investment and operations you may find yourself having to focus on at some point down the line is whether to invest in a company vehicle or company vehicle. Here are some of the basics that will help you to determine whether this is the right decision for you and your business.

What Do You Need the Vehicles For?

There are a few different reasons that you might want to consider a company vehicle – they do come hand in hand with perks. If you run any kind of business where staff has to carry a lot of luggage or belongings with them – for example, construction work or landscape design – company vans can ensure they can carry everything they need to job sites.

If you have staff who have to travel around a lot to meetings or to visit clients or sites, company cars can help to enable this too. Only you can make the call on how beneficial vehicles will be to your business.

Budget

If you decide that you are going to invest in company vehicles, it’s important that you set yourself a budget for all vehicles you are investing in. Remember, when you choose to get company cars, you don’t only have to pay for the vehicle itself.

You also need to pay for the insurance on the vehicle, MOTs, services and repairs that may need to be carried out. So, consider the whole cost before choosing which vehicles to invest in.

Tracking

Make sure to ensure any company vehicles are installed with gps tracking systems during working hours (if staff will be using the vehicle full time) or permanently (if the vehicles are returned to your workplace after use). This will ensure that you can monitor where they are in the event of issues such as theft.

Branding

You may want to take the opportunity of adding branding to your business vehicles. Many companies choose to add decals or stickers to the vehicles that show off your brand and provide contact details like your business phone number or email address.

Remember that the vehicle will pass a lot of people every time that it’s on the road, so it’s a good opportunity to get your company name in front of potential customers’ or clients’ eyes.

These are just a few areas that you might want to take into consideration or focus on when it comes to choosing company vehicles. Hopefully, some of the information and advice above should help you to make an informed decision and make the right choices for both you and your business.

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