How to buy a business car
Updated on September 16 2023
METRO MANILA, – One of the most important purchases you’ll make as a small business owner is a car.
You’ll need a reliable set of wheels to get to meetings, sales appointments and other important events.
Even though there is a wide variety of cars available on the market, some models are better than others, especially for business needs.
Here are some things you must remember before getting a company car.
Write down your needs
Before you start searching around for a good automobile, take note of the features you want in your new car. Ask yourself these questions:
- What do you need it for?
- How many people will be riding in it regularly?
- What things will you need to carry?
- Is gas mileage important?
- Is the car for personal use or solely for running the business?
- Are there any features that would make your life easier on a day-to-day basis?
Keep this list handy while you shop and refer back to it if you’re having trouble deciding between different types of cars.
Look around for potential vehicles
Once you know what kind of car you need, you can start shopping around!
Begin with local dealerships and search online. If there’s a specific brand that stands out to you, contact the manufacturer directly and see if they have any special programs for small businesses or discounts available to their customers.
This will let you choose different models without spending too much time looking around. It will also help you save money for discounted deals.
Check different financing options
There are two main ways to buy a car: You can either pay cash or take out a loan.
The first one is easy as long as you have cash on hand. The second option, however, takes some time to fulfill because you need to look for banks or lenders that offer car loans.
You must also remember that every financing company offers loans at different interest rates – some are lower than others, which means smaller monthly repayments. Also, banks usually base the approval of your loan on things like income and credit rating.
Determine the costs
When choosing a car for your business, don’t just look at retail price.
A subcompact sedan may be substantially cheaper than a van, but if you need to haul large and heavy items all the time, you may end up spending more on maintenance for the sedan.
In other words, a business vehicle should help increase your revenue and profits instead of losing you money in unneeded costs.
Think about the size of the car
When it comes to vehicles, size matters.
If your business requires carrying heavy items or going through dirt tracks, then go for something big like an SUV or a pick-up truck. If the vehicle will serve as a company shuttle for all your employees, a minibus is a great option.
You have a lot of choices in the market. Just take note of the number of passengers riding it and you can surely find the right one.
Factor in fuel efficiency
With the price of oil skyrocketing in recent months, saving fuel is becoming more important to many business owners.
Look at your budget for fuel and consider which model works best. Fuel economy depends on the engine size, transmission type and aerodynamics of a car. So don’t forget to ask about it when you talk to the sales agent.
Choosing a car for your business can be quite tricky. With so many options available on the market, it’s not easy to make a decision.
Some people even look at buying second-hand cars to save even more money. Automart.PH offers a wide selection of used cars at great prices, ranging from compact cars to pick-up trucks, that suit your company’s needs.
And if you’re looking for the finest used cars, check out Automart.PH Certified Used Vehicles. These are restored until they feel like new again. They also come with a three-day money-back guarantee and, for Gold Certified units, a one-year warranty.
Automart.PH Senior Content Creator VJ Bacungan contributed to this story.