Have you decided to buy a new company car? If this isn’t your first time, then you know that the process can be more complicated than you’d initially think.
A myriad of things must be considered to make the right choice. The wrong company car can put a massive strain on your finances, company image, and employee welfare. To help you formulate an informed decision, this quick guide explains the top three factors to consider when picking what company car to purchase.
It may not make sense to choose a company car based on its aesthetics, but depending on your business operations, the appearance of the car can have a huge impact on your business. You need to consider how the car will fit in with your other visible assets. A strong brand image requires exuding the right visual elements that will capture the attention of potential customers.
This is precisely why many companies go for executive cars. These cars aren’t the traditional vehicles you see on the roads every day. They are sleek and modern, exuding a professional image that may set you apart from the competition. These cars also boast of good fuel efficiency, top of the line technology, and little maintenance.
If you think that an executive car is unnecessary for your brand image, then going for something more conventional can suffice. You may want to consider adding gadgets that make your car look more modern. It all boils down to figuring out how you want your customers to see your brand and finding a car that fits that image.
2) Fuel Economy
Owning a company car doesn’t come cheap. This holds particularly true if you have plans of buying a fleet of vehicles. If you want to reduce the running costs of the company car, then pick one with impressive fuel efficiency.
A gas guzzler wouldn’t do your business any favors. Sure, one car that consumes a lot of fuel may not affect your bottom line. But a fleet of them will inevitably hurt your finances.
The same applies to maintainyour vehicles. If repairs are in order, consider getting spare parts from 247Spares instead of the dealership to save more money.
3) Road Tax
Another cost you must account for is road tax. Many vehicles are exempt from road tax. These are cars with low carbon dioxide emissions. The problem, however, is that the cars with low CO2 emissions are usually smaller vehicles equipped with less powerful engines. They may not be the best choice for your applications. Traveling long distances regularly and hauling large items call for bigger and more powerful vehicles.
But if you only need the company car to travel short distances, then a road-tax-exempt car may be the most cost-effective choice. The options on the market will be drastically limited, but you can guarantee that you’ll keep more money in your pocket over the long term. This gives you more room in your finances to dedicate to other areas of your business that generate income.