Simple Dos And Don'ts When Hiring A Company Car

So you've hit those sales increases met those KPIs and the boss wants to show you he's grateful for all your hard work by offering you a company car

. He's give you free reign to decide on a company car, with budgetary constraints of course. Don't know where to start? Simply follow these simple guidelines to purchasing a company car and you should get yourself a great deal.

Make a list of the types of company cars that you feel would be suitable for you. Would something flashy or conservative, match your client's expectations? Would something sporty or traditional reflect the characters and personalities of your potential clients? A sports coupe might not impress sober professionals, however a robin reliant would not impress members of the banking or financial services.

A company car should reflect your status within the company. If you are a higher earning employee closing deals and impressing clients, a more expensive car might be more suitable for you. If you are a travelling salesman your car should be representative of the business. A cheap car might put off the client subconsciously, projecting the image that business is tight and times are tough, whereas an expensive car could well make the client believe business is going well. Turning up in a rusty old banger won't persuade clients to part with any of their hard earned cash!

For any businessman the deciding factor is a cost evaluation to profit. Perhaps your boss has offered you a car less impressive that you would have hoped for, although he has given you the option of ownership and paying the difference. Consider whether paying the difference could benefit your own sales performance, or whether you just need the car as a simple run around.

When deciding on a company car, assess the purpose of the car. If the car is just simply to go two and from work, a less expensive car might be more suitable. If the employee is single then a people carrier will be inappropriate. The car should suit the employee's needs.

Company car taxation has increased over the years, so it might be wise to buy a car that has a low CO2 emmission, such as a Prius. Present tax charges are based on carbon emissions which can generate 35% of tax benefit on a car's original price. Have a look into low carbon producing cars, there are a whole range of environmentally friendly cars now that run on bio fuels, and electricity that are lowering emissions and increasing fuel economy.

Also consider insurance costs. Engine size, age, make, model and where the car is parked can all play a significant part in determining the cost of the insurance. If you are willing to pay the difference between the insurance on your ideal car and the car your company is willing to pay for can be huge, so bear this in mind before you settle on a car. Follow these simple dos and don'ts to buying a company car and you should be one more step towards getting the car that will reflect the right business image.

by: Bill Weston

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