A vehicle is a significant investment, and if you are considering your options for the right vehicle for your business, you might even be planning to buy more than one. For that reason, you want to be very that you have carefully thought about your options, and considered your needs and preferences. Here are a few things to ask yourself that may help to narrow down the choices.
What is the primary purpose of the vehicle?
If you will be using the vehicle to get yourself or your team from point A to point B, then affordability and serviceability should be your primary considerations – in this case, a basic compact car will do nicely. If you anticipate that you may be driving clients to meetings or to job sites, you may want to consider a more upscale or comfortable car – remember, your vehicle will reflect your company and while it doesn’t need to be fancy, a late-model, comfortable vehicle will make a better impression than some other options. Comfort is also key if your job is working for a company such as uber or lyft. Hirebrid offer cars on a pco rental basis which are perfect for uber drivers. If you will be transporting larger groups of people, or people and equipment, a van like the Ford Transit might be a great option – you can visit your local Ford van dealership to find out more. Remember, you will have this vehicle for a number of years, so try to think down the line to anticipate how your business and your vehicle needs might change.
How long will you hold onto it?
If you are planning to keep the vehicle for a number years and have financed it, then you will want to choose a vehicle that can be counted on to be relatively reliable beyond the warranty period, easy to repair, and relatively inexpensive. Certain makes will have more expensive parts than others, and this should be factored in. You will also want to consider the rate of depreciation – many cars lose about half of their value in the first 3 years, and this will be taken into account by the financing agent and could be reflected in higher costs. It may also have tax implications for your business. Moreover, if you plan to trade in the vehicle at some point, you will want to be sure that there is value left when you are ready to upgrade.
How much and how will the vehicle be driven?
Will the vehicle be used every day? And what kind of driving will be most common? Stops and starts in city driving will be less efficient than longer highway drives, and if you think that you will be driving most often for short trips then fuel efficiency is something to consider.
Do you need more than one?
If you have need for both a delivery vehicle and a vehicle for meeting clients, then it might be an easy decision to purchase two different vehicles. It is less clear if you will primarily need one kind of vehicle with only occasional need for something different. In this case, you might decide to purchase the vehicle that can be the most useful the most often, or to consider a multipurpose vehicle.
These are just some of the things that you may want to consider as you think about purchasing a vehicle for your business. Above all, be sure to do your research and think carefully about your needs now and in the future.