Many companies benefit from having a business vehicle or a fleet of cars, trucks or vans. If you’ve decided that it’s time to look for a new vehicle for your business, you may be considering your options. There are various paths you can take, and it’s best to explore different avenues based on the type of business you run and the kinds of activities you’ll need a vehicle for.
Buying a new car or truck
If you’re thinking about buying a vehicle or a number of cars or trucks for your business, it’s essential to explore both new and used options. New cars may look shiny and stylish, but they start to lose value the moment you drive away from the forecourt, and for this reason, they’re not always the best investment. If you are looking for the wow factor, but you don’t want to pay a premium or lose money rapidly, it’s worth considering nearly-new vehicles. Even if the car is just a few months old, it will hold its value better. If you’re a buying a car for practical purposes only and you don’t plan to add branding and use it as a marketing tool, used cars may be a better option. You’ll pay less, and you don’t have to worry about the vehicle’s value depreciating as quickly.
If you need a vehicle or a fleet of trucks for a short-term project, it makes much better financial sense to lease rather than buy. Companies like Flex Fleet are geared towards businesses looking for short-term solutions. You can decide upon a rental period, pick up your truck and then return it once the project is complete. If you’re working on a job for a few weeks, you don’t want to sign up for a 12-month or even a 36-month contract if you don’t usually use vehicles on a daily basis. Take a look at prices and packages and see what will suit your company and the individual project best.
If you use vehicles on a regular basis, but you don’t want to buy brand new cars or trucks, it’s a good idea to consider long-term hire. You don’t have to pay as much up-front, there’s no need to worry about losing money on new cars, and you can enjoy greater flexibility when it comes to upgrading. With a long-term agreement, you can find a vehicle or a fleet of trucks, vans or cars that suits your budget, and you can ensure that you’re always driving cars or trucks that are new or nearly-new. Tax rates tend to be lower on newer vehicles, and you’re likely to find that maintenance costs are also much lower. With a single monthly payment, it’s easy to budget, and you can also explore different rental periods to suit your business.
If you’re on the lookout for a new business vehicle, it’s worth exploring your options, weighing up the pros and cons and getting some quotes. Work out what is best for your business based on the kind of work you undertake and how frequently you use a vehicle. Leasing is often a better option for businesses that require multiple vehicles and those that work on short-term projects.