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Picking a company car or adding a new car to an already existing fleet can be a bit of a chore, especially if you’re not sure which car or model to buy. Add the cost of fuel, insurance, maintenance, and other worries to the mix, and it can turn into a downright daunting task.
However, this article will help you choose the best company car. The tips below will assist you in considering the important things that must be clear in your mind before you can start thinking about which car to purchase.
1. Go Electric
If you’re thinking of buying a car that won’t require a lot in fuel costs and maintenance, then going electric can be a very good option. Electric Vehicles (EVs) have really picked up in the last few years and many have what it takes to become not only a great company car but your brand image on wheels.
One such car is the the Tesla Model 3. With its sleek look, premium features, great driving range of more than 300 miles, and less charging time, it’s a no brainer when it comes to features and benefits.
2. Lease It Instead of Renting or Buying
Although the decision of whether you should lease, rent, or buy a company car can depend on numerous factors, such as the size of your business and what major use you’ll be buying the car for, more often then not, it makes more sense to lease it instead of renting or buying it.
It’s a great option if you have lots of regular employees who will use the car, because the costs associated with leasing it will be more transparent as opposed to buying it. Leasing contracts may include maintenance appointments that might otherwise be overlooked. Not to mention, leasing frees up money and time associated with renting or buying a car.
3. Buy According to Your Needs and Image
Really think things through before deciding on which car you’re going to get. Think about the errands it will run daily, who will use it, how they’ll pay for fuel, and if it will be going out of town a lot. Considering all of these things will help you pick out the perfect car to suit your particular business needs.
Plus, a big part about having a company car has to do with image, so figure out what your brand identity is and which car would be the right fit in order to represent your business on the road for everyone to see. If picked correctly, a company car can be an added marketing tool for a business.
4. Check out the Competition
Another good way to figure out what car to get for your business is to scout around and see what your competition is doing. Have they gotten a company car? Which one is it? How have they used it, and what benefits is it giving them?
Checking out the competition is also a great way to see if the car they’ve chosen matches your brand image or if you should choose an entirely different one. Make a list of businesses that you think are your competitors and search which car they’ve gotten.
5. Research Maintenance Cost and Insurance
Before finalizing any deal, you should look through how much you’ll end up spending on insurance and maintenance, because these two costs are the ones that you’ll be paying out every now and then. Getting a right balance is detrimental to the car bringing you value for the money you spent.
Apart from this, fuel can also be an added cost that you’ll have to deal with. Unless you choose to go electric, fuel costs can also be a major component when thinking of which car to buy. You can even explore whether you want to introduce a fuel card to pay for the car’s gas.
Getting a company car can be a tedious process but if you think about and utilize all of the aforementioned tips, then the process can be easy and even enjoyable. After all, it’s a big decision that’s going to be a part of your day-to-day office life, so spending an extra few days or weeks looking into all of these points can help make sure it’s a decision that you get right.