Buying a company car can be a really big investment. You want to make sure you’re making the best decision for yourself, or your employee, but also for the company too. If this is the first time you’re purchasing a company car, or you’ve bought a few and felt like you didn’t make a great choice, keep reading to learn the biggest mistakes to avoid when buying a company car.
Buying Something That’s Too Big
One of the biggest mistakes people make when buying a company car is that they get something much bigger than they actually need. Not only is the purchasing cost more for a larger vehicle, but the running costs are significantly more too. Make a list of all the ways in which you foresee yourself or your employee using the company car, and then decide what size vehicle you really need to achieve those goals. Be sure to keep up with cleaning and maintenance, check out auto detailing near me for some great ideas.
Buying Only New
Do you really need a brand new car? Is your car going to be client facing, or used for promotions? Even if the answer is yes, would a recent model be sufficient? Cars depreciate the most in the first few years, so if you buy brand new you’re going to be losing a lot of money in depreciation every year in the beginning. Being open to used allows you to snag a deal, to save some money, and to avoid the majority of the heavy depreciation that happens. You can use an accountant, such as Gramtaxaccounting.com to help offset the costs of buying a new or used car.
Forgetting About the Aesthetics of the Car
While I’m all about being mindful of expenses and looking at the practicality of a car, if you’re going to be using your car for branding (and you should) or to show off your company to clients, then you want something that looks good. With this in mind, do you want your car to be the type of car that stands out from the crowd? You can achieve this by doing some really cool branding wraps, choosing a car that’s a unique colour or even choosing a car that stands out on its own. These are important things to consider before buying or leasing a company car.
Buying a company car can be a really big investment so I hope these common mistakes to avoid helps ensure you make the right decision for your business. Click here to learn more about a juice clean you can do to take control of your own health.