Should a Business Get a Company Car?

Knowing whether or not your business should get a company car isn’t always easy. If this is something you’re currently trying to decide, here are some of the factors you’ll want to consider.

Does It Make Sense For Your Business?

First and foremost, you will need to decide whether or not a company car makes sense for your business right now and be clear about how it will help you meet your business goals.

With the recent popularity of working from home and more employees opting for hybrid working or working remotely full-time, businesses that might once have offered company cars to their employees may find that it’s no longer necessary or even financially viable.

However, for companies where travel is a frequent part of the job, whether that’s between office bases, attending networking events or visiting clients, a company car might still be beneficial and offer some advantages to both employers and employees.

The Benefits of Company Cars

For your employees, the benefits of a company car might be obvious. They will be able to drive a good-quality vehicle that is safe, comfortable and reliable without a significant financial outlay on their part or the worry of regular maintenance bills or unexpected costs.

However, there are also benefits for business owners too. A company car is a great perk that you can offer potential employees in order to attract talent to your business and because company cars improve employee satisfaction, they can also help you retain staff too.

By supplying employees with a company car, you’ll also have the peace of mind of knowing that travel problems won’t disrupt business, which might happen if your employees are reliant on public transport or driving an older, less well-maintained car which may be liable to develop faults or breakdown – usually at the most inconvenient of times!

Maintaining Your Company Cars

If you do decide to invest in a fleet of company cars, you’ll need to make sure that they are well-maintained and looked after properly. There’s no denying that it can be expensive to do this for multiple cars so it’s important to consider the ongoing costs to your business and how you would maintain your fleet of vehicles, such as arranging regular servicing and MOTs and securing cheap tyres online so that worn or damaged tyres can be quickly and easily replaced.

Choosing the Right Type of Car

If you’re considering investing in a company car for your business, it’s important that you choose the right type for your business. If your employees spend a lot of time on the road and travel long distances regularly as part of their role then they’ll likely need a bigger, more luxurious car than if they are city-based and only ever travelling short distances.

You should also consider fuel types and which will make the most economical sense for your business as well as considering the environmental impact. You may want to include electric or hybrid cars as part of your company’s fleet as these can be an attractive option to employees who are environmentally conscious and they could also save your business money in the long term.