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How to Choose the Right Company Car for Your Business

Right Company Car for Your business Choosing an automobile for your business is a huge decision to make and cannot be taken lightly. In addition to the expenditure of the car, the vehicle that you choose could have a big impact on your business in more ways than one. With this in mind, here are a few considerations for buying a company car that could be handy for you:

Size of the Vehicle

One of the first considerations to make is what sized vehicle you want. To work this out, you need to think about how many people will be traveling in the vehicle at one point in time and the amount of storage space you might need. While certain types of businesses will require a van, you should keep in mind that many smaller cars have a lot of boot space too. Hence, make sure to look into different categories. If you're using a van, you could use car wrap advertising since it'll be a good investment for your business. Using vehicle wraps as an advertising method is cost-effective because they can last several years.

Business & Personal Use?

Right Company Car for Your business Many people use their business vehicles as their personal car as well, which can be cost-effective. If you plan on doing this, you need to make sure that you think about a car that ticks all of the boxes for both uses and also factor in anyone else, like a business partner, who will be using the car.

Factor in Maintenance & Repair Costs

When browsing for a company car, it is important that you do not look at just the price-tag. The maintenance and repair costs must also be considered. These costs can add up to be a lot but you will need to incur it to keep the car well-maintained so that your business can rely on it every day. Different cars will have different costs so doing some research into this before you start visiting dealerships will be a smart move.

Buy, Lease, or Rent?

Another big decision to make is whether to buy, lease, or rent. It will come down to preference, but often you will find that leasing is smart because you can get your hands on a brand new vehicle (with a full warranty) for a low upfront payment, and you do not have to worry about depreciation which is beneficial from a financial standpoint. If you do decide to lease, you should look into contract hire gap insurance for complete protection in case the car is written off. This post could help you to find the right automobile for your business. It is a major decision to make and a lot of money to spend, but when you know how to find the right car it will make the process much easier and could help your business in more ways than one. For more help on building your business you can always reach growth experts like SIMUS ventures to help you out. 

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 28th October 2020.

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