How to Select the Right Company Vehicle

Getting ready to buy a vehicle for your business? If you’re getting ready to buy a brand new vehicle for your business there are a few things you should consider to ensure that you’re buying exactly what you want and need.

There are some things you should bear in mind to make sure that you are making the right selection for your vehicle. 

Should You Lease or Buy

The first big decision you will need to make is whether or not you will lease the car or buy the car. If you want to purchase a car you will have to either buy it for cash or get a loan for it. If you simply don’t have the cash to buy a vehicle or if you prefer not to get a loan then leasing may be a good option for you to consider. 

If you’re starting a new service for your business and you need transportation but you’re not sure whether or not you will need to buy a car just yet, you can lease a car to test things out before you commit.

Analyze Your Cost and Your Benefits

To decide whether or not the vehicle is a good investment, you will need to do a cost and benefits analysis. Check what the vehicle will cost in comparison to the benefits that you will get from it. 

For example, if you decide that you want to borrow a loan to buy a car you’re going to be stuck with monthly payments. You need to decide whether the benefits you get from the car will pay back the amount you will need to spend on the loan every month.

Get a Used Vehicle

If you are a startup in need of a vehicle you may want to consider getting a used vehicle instead of a brand new one. It is usually cheaper and you can still get good value for your money. 

Make sure you have the car examined by a good mechanic to ensure that it is free of any large mechanical issues. The last thing you want is a vehicle that is always breaking down when you need it the most.

Think about Insurance

How often you will use the car is a determining factor in the type of insurance you need to take out. You will probably need commercial auto insurance and you will have to make sure that your worker’s compensation policy covers any injuries that can happen to workers while they are driving the vehicle. 

Don’t make the mistake of thinking you’re not going to need good insurance simply because you are not buying a fleet of vehicles. When you have a company vehicle anything can happen at any time and you need to make sure that you are prepared. 

It is a good idea for you to research insurance car providers before you go ahead and get car insurance for your new vehicle. Shop around for the best deal.

Decide on the Car You Want

The next thing you will need to decide on is to type and size the company car that you are going to buy. When deciding on the type of vehicle that you want, you need to ask yourself where you will be driving it and what you will be using it for?

If you need to carry a lot of things from one place to the other you’re going to need a vehicle that can accommodate this.

Take the time to do a needs assessment for your company. Assess exactly what you need in a vehicle and let that be your guide in determining exactly how much you should be spending and the type of vehicle you are going to need.

A Promotional Tool

One of the best ways to utilize your vehicle is to make sure that it is a promotional tool for your business. You can do this by getting your company vehicle wrapped. When you get the vehicle wrapped you should make sure that it has your company logo as well as your tagline on your vehicle. Think of the vehicle as a billboard, make it easy for people to notice it as you drive the vehicle around. 

You can showcase your products and services on the vehicle as well. A company vehicle that is wrapped and displays the right type of information on the vehicle can be a huge source of advertisement for your business. 

The bigger the vehicle is the more space you will have to showcase, so make it count. 

Consider Extra Features

An important part of selecting a vehicle for your business is to look at the specs on the vehicle. Take a careful look at the specs to determine whether or not the vehicle has all the features you’re going to need to make it an asset for your business. 

For example, if you are buying a work truck you need to look at work truck classifications to ensure that the vehicle has all the specs you need for your business. Even if the vehicle has all the specs you need for your business, think about adding extra features to the vehicle to make it more efficient for your business. 

For example, if you’re going to be using the vehicle to deliver goods you may want to consider adding GPS tracking to the vehicle to make sure that you can get help with finding places.

Adding these little perks to your vehicle is a great way to ensure that you get value for your money.

Fuel Economy

Fuel economy is important when you are selecting a vehicle. You want to make sure that the vehicle you choose will efficiently burn fuel and that you will not have to replenish it more than usual. A vehicle that has a high fuel economy is very valuable especially if you have to drive for many miles. 

Ask the dealer about the fuel economy of the vehicle. However, don’t just stay their word for it. Go online and see what other people are saying about how well the vehicle burns energy. This is important information and it can be a deal-breaker when it comes to the suitability of a vehicle.

Look at Competitor Vehicles

Take a look at what your competitors are using. It can help you decide what to buy for your company as well. This may not be that difficult to find out, especially if you live in a town where you see their vehicles all the time. You can also pay a visit to their business and do some sleuthing about the type of vehicle that they are using for their business.

You want to make sure that you are selecting a car that is reliable and safe. Chances are that if your biggest competitor has chosen a specific model or brand it is because it is highly effective for doing the job that they need it to do. This is especially true if they have been in business before you.

Buy the Right Vehicle

Buying the right vehicle for the needs of your business is something that you must make a priority. Having a company vehicle that is not practical for your business is a waste of time and money. 

To avoid this, the best thing you can do is to ensure that you select carefully. Once you take the time to do due diligence before purchasing a company vehicle you will make the right choice.

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