A business vehicle offers tons of benefits to your business. You can use it for deliveries, to pick up and drop off employees, for marketing, and other day-to-day business activities. A branded vehicle can also enhance your brand’s image.
A good brand image is crucial because it helps a company establish credibility within its industry. According to research, 64% of customers say a brand’s image is the main reason they have a relationship with the brand.
Looking to buy a company car? Here are our top tips for buying a business vehicle.
Consider Your Budget
A car comes with additional costs such as insurance, maintenance, fuel, and parking fees. Does adding another vehicle make financial sense? Can your company afford to buy a vehicle?
You should answer these questions before walking into a dealership or shopping online for a car. Your budget determines the model you can afford. It is also wise to weigh your options— compare the costs of leasing a car with those of buying a new car or a secondhand car.
Choose a Vehicle That Serves Your Needs
When shopping for a business vehicle, consider your needs. You may need the vehicle for deliveries, to transport raw materials, for marketing, or for outdoor advertising.
Consider your primary needs when buying a business vehicle. For instance, if you run a tour company and frequently take clients to the wild, the highest ground clearance SUV will be ideal for such areas. Your business needs should determine the car you buy.
Take Note of the Fuel Economy
In addition to buying an affordable car, look at its fuel economy. How much money will you spend to refuel it, and how often will you need to refuel? It does not make economic sense to buy a vehicle you’ll park on most days because of high fuel costs. Do your research and calculate the miles per gallon for the models you’re interested in.
Pay for the Right Insurance
Personal auto insurance doesn’t cover accidents and liabilities incurred by a business vehicle. Choose the right insurance for your company cars to be safe when something happens. If you want an insurance plan that covers a business vehicle, purchase commercial auto insurance.
Commercial auto insurance helps you to avoid unnecessary costs when your business vehicle causes property damage or medical incapacitation during accidents. Find out the best insurance covers for your business vehicle then choose one. Check the differences between policies that cover you and your employees and those that cover drivers and commercial traveling.
Consider Your Brand Image
It’s no secret that first impressions are everything for potential clients. Your business vehicle is an extension of your brand image. What image do you want to portray? Choose a vehicle that enhances your brand image. Do you want to show that you’re an eco-friendly brand? Buy an electric vehicle. Are your competitors using big, sleek autos? Try and keep up by buying a similar or better vehicle. The important thing is to stand out from the competition.