If you think your business is growing in the right direction and the numbers are starting to look good, then the next step is to begin thinking of starting a fleet of company cars. You can start with just the one and work your way up, but owning a car dedicated to your business and its needs is a great move for a growing and successful company.
So, why should your business invest in company cars? Easy a company car can provide numerous benefits that you might be starting to understand if you’re researching the topic. From helping employees get around town or travel intercity to running office chores that just can’t be done any other way, or even acting as a brand ambassador on wheels. A company car has become somewhat of a necessity in this day and age and its importance has only grown since the coronavirus pandemic bought public transport to a grinding halt.
Even though we’re well past that point now, investing in a company car can be a great move for your business so if you’re thinking of whether to buy one or not. Here are many reasons why you should take the plunge and get one!
1. Save money in the long run
If one of the reasons you want to invest in a company car is that it has the ability to save you money down the line, then that’s a great reason to get one. Not only will it save your employees money and the frustration of using public transport or costly ride-share services, but it will also make office chores a breeze no matter who has to do them. Plus, if you invest in an electric vehicle, you might even save on fuel. Something like the Tesla Model 3 would be the perfect buy in such a scenario!
2. Use your time more efficiently
Having a company car can save everyone involved a lot of time, whether they use it for inter-city travel or within the city, it can save a lot of time that would otherwise be spent on unreliable public transport. Making your business more productive, if everything is done timely and everyone’s always on time. Productivity can be at an all-time high, with just one purchase!
3. Build brand image
Company cars can be used for more than running chores. If you’re really smart and strategic about it, you can brand the car in such a way that it acts as a marketing tool for you. Whether its done literally via decals or subtly through buying an electric car and building a reputation and image of being a clean and green business, a company car can help in ways that you quite possibly haven’t even thought of!
4. You may be eligible for Tax breaks
Owning a car that’s solely used as an asset for the business may make you eligible for tax exemptions and breaks, depending on where you live. This can be worth investigating because it can significantly lower the costs associated with buying, renting, or leasing a car for your company’s needs. Always consult a local professional about such technical stuff so that you get the most accurate information based on your location.
5. It can help build business credit
Another hidden monetary benefit of investing in a business vehicle is the fact that you can improve your business’s credit rating with just one purchase. So, whether you take out a loan to buy it, lease it or purchase it with cash, a company car has the ability to give you a sizeable amount of credit, improving your rating or credit score and making your business eligible for more financial benefits down the road.
There are many other advantages to owning a company car, these were just a few to get the ball rolling and helping you think of some of the lesser-known benefits that a company car can bring to your business, because if it’s one thing that the pandemic has taught us its that being self-reliant is really important especially in a world that’s so prone to vulnerabilities.
Having your own company car can reduce these vulnerabilities of having no reliance on public transport or ride sharing apps to help your employees or deliver your products. It brings the control back to you. There are already so many business decisions in which things are out of your control but this one purchase can help take the uncertainty out of many situations.