Finance Globe

U.S. financial and economic topics from several finance writers.
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How to Choose a Company Car with Success

How to Choose a Company Car with Success

Do you require a vehicle for your company? Are you on the fence as to whether or not now is the time to buy (or lease)? If so, you are in the same position as many small business owners.

Choosing a company car is easier said than done. With hundreds of options, you will find yourself faced with many questions from the start.

Below are three tips for choosing the right vehicle at the right time:

1. Make a list of your needs. Are you using the vehicle to make deliveries? If so, size will be an important factor. Or maybe you need a vehicle for making sales calls. In this case, gas mileage may be more important to you.
As long as you know how the vehicle will be used, it is easier to trim your list of options and eventually make a final decision.

2. Know the resale value. There is no way of knowing for sure what a vehicle will be worth in the future, however, some makes and models have a better history than others. For example, Honda and Toyota are well known for their high resale value (and killer quality). This may not sound important when buying a vehicle, but it will definitely work in your favor down the road.

3. Stay within your budget. As a business owner, you have a variety of expenses. Do you know exactly how much you can afford to spend on a new vehicle? Don’t stretch yourself thin, as you may end up regretting this in the near future.

With these three tips guiding you, choosing a company car should not be nearly as difficult. In fact, you will find yourself in position to make an informed and confident decision.

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Comments 1

Frank on Thursday, 17 December 2015 19:09

A company car is a very nice perk, especially if you get to choose the car. As Chris points out, you need to think about what you want and what your needs are. Searching for a company car is similar to purchasing a personal car with the exception that your needs/wants should be focused on the business use. Always do your research in purchasing a car because it is one of the easiest ways to get ripped off.

A company car is a very nice perk, especially if you get to choose the car. As Chris points out, you need to think about what you want and what your needs are. Searching for a company car is similar to purchasing a personal car with the exception that your needs/wants should be focused on the business use. Always do your research in purchasing a car because it is one of the easiest ways to get ripped off.
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Wednesday, 23 October 2019

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