Top 5 Reasons Why You Should Have A Business Vehicle
Seeing that most businesses aren’t confined to a single location, having a business vehicle is a luxury your business can’t do without. It’s important to choose the right business vehicle as such a decision does have great implications for the business and its future success. Having business vehicles is a great marketing strategy. You could turn your fleet into rolling billboards by having imagery, information, or even the business logo painted across them.
Whether they are moving or parked, business vehicles are still working for you by raising visibility and promoting your brand. Other benefits of having a business vehicle include:
Although some business owners use their personal vehicle for business purposes, the major benefit for putting the vehicle in the business’s name is vehicle liability. If you are involved in an accident while using your personal vehicle for business purposes, chances are both you and your business could be sued. This means that you’ll need both personal auto insurance and business insurance to cover liability charges. Having a business vehicle potentially removes your personal liability and moves it solely to the business.
Loss of Insurance Coverage
Business owners think that they are covered by their personal auto insurance in case their vehicle is sued for business reasons. This isn’t always the case. Some auto insurance providers may deny claims on your personal coverage should an accident occur while the vehicle is out for business reasons. This basically leaves you uninsured and personally liable. So, talk to your insurance provider about getting commercial auto insurance.
As a business, time is money and every dollar counts. Having business vehicles can help lower costs in many ways. For starters, employees can use them to easily and quickly get to work or meetings. You can also use them for any delivery needs, which saves on hire costs. In this way, the right business vehicle allows you to better conduct business. You can choose to buy or lease business vehicles. And, thanks to intelligentvanleasing.com, acquiring a business vehicle has never been easier. Buying or leasing business vehicles come with different pros and cons; therefore, choose one that fits your short and long-term needs.
Having a business vehicle offers several tax benefits. For starters, your business can deduct general auto expenses for business use of the vehicle like tires, repairs, gas, maintenance, etc. The business can also deduct depreciation expenses, not to mention, interest on a car loan is tax-deductible. It’s important to review this every year with your tax advisor to ensure you are fully capitalizing on all the benefits and options available to you and your business.
To become a leader in the industry, you have to be reliable. This means providing goods and services on time and in good condition. Business vehicles allow you to do all that, as well as, offer the opportunity to increase service areas and clientele. Be sure to regularly keep the business vehicle well maintained to increase efficiency.