Many businesses are investing in a company fleet or company vehicle, with good reason. It’s a great way to make your employees feel valued, and add a bit of personality to your company. However, it can be an expensive endeavour, but luckily, there are ways to slash vehicle costs.
Any and all vehicles require maintaining, but company cars are in a special situation. There are more opportunities to save money with these handy business rides than with a bog-standard car. So, here are a few of the best!
- Claim back company car expenses
The great thing about a company car is that it counts as a business expense. You can deduct a certain amount of miles, repair costs and maybe even the vehicle cost itself. There are many official sources that help calculate these costs, much like https://www.gov.uk/reclaim-vat/cars.
If you do take your company car for repair, be sure to keep all relevant receipts and documentation. You can claim back even more tax money if the car you purchased and use is solely for business purposes, so bear that in mind.
- Don’t replace every part; only fix what needs fixing
It can be tempting, if one thing breaks, to replace everything. This is true of many things in life, and it’s an expensive habit to possess. Is one button on my TV broken? Well then I’ll buy a new one! Is one car tyre flat? Well then let’s replace the whole lot!
Motor vehicles are especially susceptible to this mentality due to their complex nature. They’re made up of a ton of working parts and it can feel easier to replace the whole thing rather than fixing small bits. Businesses need to save money at every possible avenue, and this is one of them. Company cars aren’t used as much as normal cars, so it’s unlikely they’ll have major problems.
Firstly, if one of your seats receives a tear or an unremovable mark, you can easily install a single new one. It’s not illegal to have different types of seat in your vehicle, so don’t feel the need to buy what you don’t need.
In terms of the internal workings of your car, the same is true. Transmission failure is a common problem for many, and it’s usually down to a single part failing. So rather than replacing the whole thing, just get one part fixed! A site like http://www.trannyman.net/rebuilt-transmission/ can offer you rebuilt transmission advice. In all these examples, the same applies. If there’s a single problem, fix that single problem and not anything else.
Brake lights and sidelights are a similar story. If one light fails, it’s not indicative of a wider problem, it’s just that single light. You can quickly replace a brake light in a matter of minutes without worrying about any other vehicle lights too.
- Don’t break the law and receive a fine
Any and all employers are legally obligated to protect their staff while they’re at work. If your company involves driving or your staff use a company car, this protection extends here, too. You have to do everything in your power to keep your staff protected while on the road, in order to avoid incurring a huge fine.
So, to save yourself some money, make sure the vehicles are properly serviced and fit for the road. This includes doing basic performance checks, including seatbelts and brakes, as well as more in depth stuff. Because of the complex nature of vehicles, you’ll be open to litigation if you don’t conduct an investigation into the safety of a car. Employee and business safety should be high on the priority list for any management team, so don’t let standards slip.