Are you looking to buy a company car? Things you should consider.

One of my 2017 goals is to buy a new car. We have really outgrown our current one as a family and with my speaking engagements/days out reviews my business has really been clocking up the miles. If you’re looking to buy a new company car, follow our handy guide to find the right car for your business.

Safety first and foremost : 

Put safety first when buying a company car. Find out which safety features are included in the model you’re considering. As a responsible employer, you’ll want to do all you can to protect your staff. Manufacturers use lots of abbreviations in describing safety features, so make sure you understand them and don’t be afraid to ask.

Also, consider what features are included to help you and your employees avoid accidents. Is there a reversing system for instance? With a significant number of company cars involved in accidents every year, it’s important you have a car that will help keep your employees’ safe and accident-free.
Cutting down on safety features might well cost you more in the long term. From employee sickness or absence to expensive vehicle repairs and downtime, potential loss of business and loss of your no claims bonus – for the potential expense you could encounter, it’s not worth cutting corners on safety.

company car considerations

The Driver :

When you’re buying a company car, it’s important to consider who will be driving it and which jobs they’ll need to use it for. Ask yourself, will the car be fit for purpose? Does your driver need to drive long distances or at night? Where will they be driving, in congested city centres or rural areas? Do your employees need to carry significant amounts of stock, merchandise or equipment with them? Talk to your colleagues about their needs; look for reviews on online and chat with your industry partners about what works best for them.

Hand in hand with finding the right car for your drivers is an understanding that your drivers are fit and legal to drive. Keep records of their licenses, any variations that exist on them and create an alert for when these need renewing. Also, keep track of any medical conditions that might inhibit their ability to drive.

The Cost :

The cost of buying and running a car is a chief consideration. Look around for what offers are available to you, especially if you’re purchasing more than one vehicle. In addition to the initial outlay, consider the ongoing costs of running the car including:

Fuel :

company car fuel

Which type of fuel would prove most economical for your business, petrol, diesel or a hybrid vehicle? Does the model you’re considering have low C02 emissions? Check this carefully, as different levels of emissions are taxed at different percentages.

Insurance :

Ensure you understand the difference between business and company car insurance. Shop around and look at the range of insurance deals available for your company cars. Understand what your insurance covers if something does go wrong. Does your insurance cover your employees driving abroad for instance? Would you get a replacement car if one was damaged?

Breakdown cover :

What breakdown cover would work best for your business and what does it need to include? From roadside assistance to a home start service, the options available are many and varied.

Maintenance and servicing :

Also, consider the ongoing cost of servicing and maintaining your company cars, be mindful of the fact that certain makes and models cost much more than others to repair.

There you have it, our guide to finding the right car for your company.

Photo Credit | Shutterstock




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