There are advantages for businesses to invest in a one, two or even a fleet of company cars. What are the best types of cars for businesses to consider and how vast are the actual benefits? Here, are six reasons company cars are a good idea for your organization.
1. Tax Benefits for Corporate Vehicles
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Business owners, directors and some employees based on salary levels can utilize company cars and receive tax benefits. While there are certain expenses to consider the tax benefits based on government tax codes are very attractive for certain types of vehicles and miles driven. Your business may also be eligible to receive certain asset/capital allowances on tax returns.
2. Great Benefit for Top Employees
Corporate owners and directors are not the only ones who can be appointed a company vehicle. Based on salary levels, top employees can receive company cars as a benefit—even for spousal use, which makes offering them as an employee stipend very attractive.
If it’s known in the workforce your company offers vehicles to top employees, you are more likely to gain a better pool of job candidates and life-long and dedicated employees.
3. Attractive Manufacturer Fleet Options
Many auto manufacturers such as BMW offer a wide variety of vehicles to choose from. Big Motor World Review offers insights to the many types of vehicles you can utilize for corporate use.
Various manufacturer models from cars to wagons to SUVs make it easy for companies to mix and match their fleet based on need and also help to build attractive fleets.
Even further, almost every major automaker offer generous fleet discounts on every model they manufacture.
4. Corporate Branding
If you invest in a company fleet of vehicles, you gain the chance to brand your fleet with vehicle wraps, graphics or vehicle vinyl lettering. Because these are made from top quality materials these days and are 100 percent removable, it’s easy to build your brand identity and turn your company vehicles into 24/7 moving billboard advertisements.
5. There’s a Benefit to Choosing Green Cars
Company vehicles that are considered environmentally friendly meaning they use diesel fuel, are electric of some other sort of hybrid vehicle also rewards business owners. Not only can they reap the rewards of green energy credits in the consumer’s eye, companies using “green” vehicles are attractive and gain more customer interest than fleets full of gas hogs.
6. Leasing Cars Offers Short-Term Commitments
For some businesses, the option of leasing vehicles is not only beneficial in the operating expense area, but also as a way to change out your vehicles keeping them fresh and new.
Leases that are 24 or 36 months in term, means not only can you be assured of entering new vehicles into your company car pool of vehicles but also the chance to drive one manufacturer’s model and change to another when the lease term is ended.
There are many reasons why investing in company cars are something your business should consider. The benefits are large and range from tax credits to employee rewards to the ability to change your fleet often if you choose to lease to building your brand identity with corporate logos and graphics.
