Most startups only invest in absolute essentials. But have you thought – would a company car benefit your business?
This makes sense – budgets are relatively limited at this time. But as time goes on and your business begins to experience success and grow, you can make more investments that will benefit your brand.
A company car could be one of these. Sure, this may seem like an odd investment to make at first, but hear us out. Here are the basics on how a company car can help you and how to go about finding the perfect vehicle to suit your business’ needs. Hopefully, this will help you to settle on whether a company vehicle is right for you!
The Benefits of a Company Car
There are so many reasons to get a company car. But here are a few to consider:
- Employees can use the vehicle to get into work without having to rely on public transport, which can have delays.
- Employees can use the vehicle to get to important meetings, conferences or other events while looking professional.
- You can brand your vehicle, helping it to become a sort of moving advertisement for your company.
Choosing the Right Vehicle
Finding the right vehicle may be a matter of time and patience. Don’t rush into any purchase. Perhaps the main decision you’ll have to settle on will be whether you want a new or used vehicle. A brand new vehicle will come in perfect condition and will have minimal mileage. You can also choose your own add ons. If anything does go wrong with the car, you’ll usually have some sort of warranty. Used vehicles come at a cheaper cost but have a higher risk of incurring costs sooner down the line – and as all business owners know, you want to minimise costs in order to maintain a good cash flow at all times.
Finding the Best Insurance Policy
All vehicles on the road need valid insurance. This includes company cars. So, make sure to shop around for the best policy out there and ensure that it covers any drivers who will be using the vehicle. Price checking has been found to give the cheapest solution. So, shop around or use price comparison sites until you find the best deal for you!
Checking Employees’ Licences
This may seem like a basic step, but so many employers give people the benefit of the doubt and assume that they have a valid licence if they say they have one. Many employers have been caught out by employees lying and haven’t found out they don’t have a valid licence until a claim has to be made – then their insurance is invalid. Before giving the keys of your company vehicle to any employee, make sure to see and take a copy of their licence first.
Now ask yourself, will a company car benefit your business? A company car really could work in your company’s favour – helping to give you a professional image, helping with advertising efforts and also serving the practical purpose of getting your employees from A to B. If you’re considering investing in one, hopefully, the above information will help to get you started out in the right direction!