Contributed post –
Buying a new car for your business should be an easy decision, but it can also be complicated and stressful. There are a lot of different things that you will need to think about when it comes to choosing your vehicle, and then once you have it, you will need to worry about insuring it and picking the car up.
In this article, we’ll talk about all of the ways that you can take the stress out of buying your new business vehicle.
New Vs Used
One of the first things that you need to weigh up is whether you are going to buy your vehicle from new, or used. If you are planning on getting your car second-hand, then you will need to decide whether you’d prefer to get your car from a used car dealer, or from a private seller.
Buying a brand new car has some great benefits. Firstly, you will have a manufacturers warranty meaning that if your car breaks down within a certain timeframe then you may be covered for getting this fixed.
You will be the first person to ever own the car, and you can enjoy the brand new car smell. Everything will be perfect and new. An immaculate vehicle is something that you may well take pride in driving.
New cars rapidly lose their value. After the first year of ownership, the car will be worth a fraction of its original value. That means that if you plan on selling a new car on, then you will lose a lot of money by doing so.
On the other hand, buying a used car that is a couple of years old would mean that you get a reliable car that may look relatively new, but for a lot less money.
Buying From A Used Car Dealership
When buying from a used car dealership you will have the security of being able to buy from a business. If you have problems with the transaction, you will be able to go back to the company that you bought the car from. While you may not have any rights in terms of problems that emerge in the vehicle after a period of time, the ability to go back to the seller for other problems is helpful.
Buying From A Private Seller
Used car dealers put their own markup on the price of a vehicle. That means that you will likely be paying more than you may be able to buy it from elsewhere. A private seller may well be considerably cheaper than a used car dealer.
Of course, things can go wrong when you are buying from a private seller. They are not a registered business, so you cannot follow the transaction up if there are any problems. Most of the time, you will have a seamless transaction. However, you should remember that it is a case of ‘buyer beware.’
The Test Drive
Before you decide on your car, you should take it for a test drive. If you are buying a used car, you should look out for as many problems with the vehicle as possible. Looking for potential issues that may emerge once you own the vehicle will prevent you from needing to pay out for repairs in no time.
If you are not great at spotting the early warning signs associated with common vehicular issues, take someone with you that may have a bit more insight.
Make sure you ask to see all paperwork associated with the vehicle as well as the full-service history. This will let you know what work has been carried out and may give indications of what may go wrong in future.
Hire Or Purchase?
The other consideration that you have when getting a vehicle for your business is whether to hire or buy. There are definite pros and cons for both options. With a lease hire vehicle you don’t own the vehicle and you will give it back after a fixed period of time before you take out another contract. You’ll always be driving a new vehicle so are likely to have fewer problems in terms of maintenance. However, you will never own it, despite making monthly payments on it.
Getting Your Vehicle Where You Need It
Once you have bought your vehicle, you may not be able to drive it to where you need it. This might be due to the fact that it is not currently legal to drive, or it may be because you are having the car sent from somewhere that you are unable to drive it from yourself.
Find an auto transport company that will be able to deliver your new vehicle straight to your home. That way, you won’t have to deal with the stress of getting the vehicle yourself.
Insuring Your Vehicle
Before you make the final decision about which car to buy, find out how much your new car will cost to insure. Insurance can be a massive cost, and if you buy a car that is more expensive than you would have imagined insuring, then it could increase the cost of your car considerably.
Running the numbers with some insurance comparisons before you buy the new company car will give you an idea of how much the car will actually cost to insure.
Keeping Your Company Car Safe
When it comes to driving your company vehicle, whether it is going to be driven by you, or by an employee, you will need to make sure that you have adequate policies and procedures in place to ensure the vehicle is driven safely at all times. Implementing rules that stop employees from using mobile phones without a hands-free device, or smoking when driving should be standard. On company vans, limiters can be put in place to prevent the vehicle from being driven over a certain speed. You can also use signage on the back of the vehicle with your company phone number and a ‘how am I driving?’ sign. This can be used to ensure your team drive safely at all times.