Shopping for a car for business use involves considering a whole range of criteria. For the most part, you’re looking for something that’s practical, that’ll be economical to run, and that won’t make your job any more difficult than it needs to be.
Choose the Appropriate Spec
The modern car comes with a whole slew of optional features designed to make the driving experience that much more pleasurable. Bluetooth compatibility might be worthwhile if you’re going to be taking calls in your car, or listening to podcasts on long journeys to meetings and conferences in distant towns. If you’ll be travelling to unfamiliar destinations, then a satnav might be a wise investment. If you’re just going to be commuting to and from work, then perhaps it’s an extravagance you can’t justify.
Insurance & Tax
The cost of insurance and taxation may differ massively from vehicle to vehicle. The road tax system is designed to incentivise low-emission vehicles, and thus it may be worth looking for something green, or even entirely electric. Similarly, insurers have their own set of criteria that’s worth paying attention to. If you’re insuring several company cars, then you may be able to negotiate a discount. If you’re buying new, then it’s worth considering GAP (guaranteed asset protection) insurance to cover the cost of depreciation in the event of a write-off.
Think about Size
If you’re going to be spending lots of time in a given car, then you’ll want to ensure that it’s spacious enough to be comfortable. Moreover, if you’re transporting colleagues and clients, then compromising on space might make things a little uncomfortable. You might also think about the terrain you’ll be navigating – rural businesses might demand a four-by-four, while urban ones might make do with something smaller and more agile. Larger cars also have the disadvantage of requiring more energy, and thus more fuel, to get from one place to another.
Fuel Economy
A sizeable portion of the amount you spend on your company car will be spent on filling it up. If you’re putting in hundreds of miles every week, then just a few extra miles per gallon can make an enormous difference, and more than justify the extra you might find yourself paying at the outset. If you want a rough estimate of how much you might save, there are online tools which can let you know how much extra you’ll be spending based on an average annual mileage and an assumed price per litre.
