There are many lines of work in which having a company vehicle can come in use, and not just the obvious trades like delivery services and handymen. Obviously, buying a vehicle is not a cheap expense, and so weighing up the pros and cons is important. Here are four reasons that could justify you buying such an asset for your business. (Image Source)
Convenience
A specialist business vehicle can provide all kinds of convenience perks. You may be able to turn a van or truck into a portable work station. This could have workbench for practical work and have wi-fi connection for doing digital work. A vehicle may also cut costs on deliveries allowing you to buy (or deliver) your own resources. You may even be able to pick up staff or clients. This could be useful for picking up a client from the station or driving a staff member to a job. Much of this can be done in a personal vehicle, but claiming the tax benefits may not be as easy.
Lower running costs
Talking of taxes, any fuel you use or parking tickets that you buy whilst working can be deducted from your taxes. You’ll need to keep proof just in case the taxman comes knocking round – keeping receipts should do. Insurance for a company vehicle can also work out cheaper – If you use your car, van or truck for your business, even partially, you should seriously consider getting the right insurance coverage for it. Shop around comparison websites to compare business vehicle insurance rates. Buying a separate business vehicle to use alongside a personal vehicle may make calculating these costs easier.
Branding on the move
A company vehicle can also be a great marketing purchase. You can print your brand on the side of your vehicle and it can effectively act as a moving billboard. Make sure to print your website and phone number – with most people carrying mobiles with constant internet connection they may be able to ring up or look up your company there and then. Even if you don’t fancy shelling out on printed branding, you could always buy a bumper sticker to promote your business that can be more easily removed.
Credibility
Owning a company vehicle – especially a branded one – can also make your business seem more credible. It shows that you’re firstly successful enough to afford your own business vehicle. Plus it also shows that you’re committed to showing off your brand. This could also help you to also be more identifiable in some situations. If you need to park in a private car park and have a branded company vehicle, it could be advantageous for giving you access. Similarly, you may need to pick up a client and a branded company car could make it easier for them to spot you. First impressions sadly play a large part in business, so make them count when it comes to your vehicle too.