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4 important questions to help you choose the perfect company car

4 important questions to help you choose the perfect company car

Choosing the best company car for your organization can be a complicated process, however, there are many benefits for both you and your employees if you are able to do so.

The following article won’t be providing much in depth technical knowledge but will offer you a solid base from which to make the decision as to what company car to go with.

Here are 4 important questions to help you choose the perfect company car.

1. What is the car to be used for?

When choosing a company car, this is typically the first thing you want to consider. If you are going to be driving a long way, and over motorways, you’ll probably want a larger, fuel-efficient car. If on the other hand, you are just going to be zipping around the city, then a small car should be enough.

Likewise, you’ll want to consider if it’s going to be a delivery vehicle, in which case you’ll probably need a van. In some instances, a family car such as a sedan may have all the space you need.

Other questions you might want to think about include; will clients been getting into the car and is the car meant to help motivate staff?

2. Do you want to lease or buy?

This is another very important question, and will largely be dependent on your cash flow situation.

Leasing is beneficial because all costs are included in a set monthly fee. This means that you don’t have to spend the mental energy worrying about things like repairs, tires, assistance or maintenance. This is also great if you want to keep changing vehicles so you have the latest models, without having to incur the burden of the depreciating value of the car.

Unfortunately, however, if you eventually don’t decide to purchase at the end of the lease, you won’t have a vehicle – but if you do decide to do so, you’ll have spent a lot more than you would have in the first place.

3. What image do you want to give off?

If you’re part of a consultancy or sales team you may also want to consider if you are going to brand the car, as this will influence the image.

As a CEO, you also may want to come across a certain way to prospective clients. If you’re involved in selling luxury items, for example, you’ll want something that reflects an image of success, whereas if you’re an eco-friendly business, it’s probably more congruent if you opt for an eco-friendly car.

4. What future costs are you willing to pay?

After buying a vehicle you’ll have to cover certain costs, most notably maintenance and insurance, which will obviously vary depending on what car you purchase.

While insurance will obviously be higher for more expensive vehicles and will depend on the member of your team who will be driving the car, you can mitigate certain costs.

Maintenance will range from repairs to part replacements and servicing, and whether the car is going to be driven in the city or country, and how often it is to be used, should all be considered.

If you’re looking to decide on a company car for your business, start by asking these questions so you don’t end up choosing one that isn’t appropriate to your situation.

If you’d like to find out about our fleet management service or our other leasing options, leave us a comment, send us an email at info@marshall-leasing.co.uk, or call us on 01480414541.

 

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Marshall Leasing is a trading division of N.I.I.B. Group Ltd a company registered in Northern Ireland under company NI3721, whose registered office is situated at 1 Donegal Square South, BELFAST, BT1 5LR. N.I.I.B. Group Limited is authorised and regulated by the Financial Conduct Authority