Selecting the right make and model for a company car is a critical decision for business owners. Company cars go beyond just transporting employees and clients from A to B, they reflect the image of your business, impact employee satisfaction and contribute to overall operational efficiency.
Company cars are used all over the UK but businesses don’t always choose the right ones. If you’re looking for new company cars for your employees, use the tips in our guide below to make it easier to find a great option. Continue reading to find out more.
Why should my business use company cars?
Company cars are useful assets for any business and here are the main reasons for that:
- You can cut down an employee’s financial ties
- It can be an attractive benefit for potential hires
- There’ll be no unexpected costs
- It can be a tax-saving benefit
What should I consider when choosing a company car for my business?
Make sure you consider all the following points to make choosing the right company car even easier:
Budget and costs
Evaluate your budget constraints and total cost of ownership, including purchase price, depreciation, insurance, maintenance and fuel expenses. Consider the long-term financial implications and affordability of different makes and models, weighing upfront costs against ongoing operational expenses.
Business needs
Assess the specific requirements and use case study scenarios for company cars within your business operations. Think about factors like the size of your workforce, commuting distances, client meetings, and industry standards.
Resale value and brand reputation
Consider the resale value and brand reputation of different makes and models, as these factors can significantly impact the total cost of ownership over time.
Explore reputable brands known for their quality craftsmanship, durability, and market demand. For example, you may consider used Volkswagen cars which are reliable and well-maintained, making them suitable for business fleets.
Fuel efficiency
Prioritise fuel-efficient vehicles with low carbon emissions to minimise environmental impact and operational costs. Fuel efficiency has become extremely important for businesses and individuals around the UK in recent years, following the price hike in 2022. That’s why picking a fuel-efficient car is a must in 2024.
Explore eco-friendly options such as hybrid, electric, or plug-in hybrid models, which offer reduced fuel consumption and contribute to corporate sustainability goals. Plus, there’s no road tax to pay on electric vehicles until April 2025 as an extra cost-saving benefit.
