Purchasing commercial vehicles for your business can be a big investment that takes quite a bit of research. Other businesses know that they need to expand their fleets to increase overall productivity/profitability. This is not a decision that should be taken lightly as the last thing you want is vehicles that constantly have mechanical issues.
Consider Your Financing Options
The last thing that a small business wants is the purchase of new vehicles to impact the daily operation of the business. Cash flow is a necessity for a number of businesses, especially when paying for fuel, insurance, and other expenses monthly. Interest rates are immensely low currently so this can be an opportunity to get a great deal on a new or used vehicle. If looking for multiple vehicles, try to make a bulk deal with a dealership. You could also build your fleet vehicle by vehicle over time which is the strategy most businesses use.
Use Vehicles Could Be The Answer
Purchasing new vehicles is a terrible investment whether it is for a business or an individual. Most vehicles lose a large amount of their value as soon as they are taken off of the lot. There are so many great opportunities to find used cars with minimal mileage. Your sales team might need to travel a lot and putting miles on a new car doesn’t make sense.
GrizzlyRock Value Partners was up 16.6% for the first quarter, compared to the S&P 500's 5.77% gain and the Russell 2000's 12.44% return. GrizzlyRock's long return was 22.3% gross, while its short return was -2.9% gross. Compared to the Russell 2000, the fund's long portfolio delivered alpha of 10.8%, while its short portfolio delivered alpha Read More
Electric Vehicles Could Be A Great Option
The vehicles that are used for long mileage daily but can return to a charging station need to be electric. Saving money daily on fuel can be a huge deal and reducing the carbon footprint of the fleet can be a perfect PR opportunity. A fleet of all-electric vehicles will be completely worth it especially as incentives are created for businesses dedicated to an eco-friendly business approach. Self-driving cars can be great and can be the future of fleets. The ability for a sales professional to get work done while a car drives them to their next meeting will improve productivity.
Finding The Best Insurance Policy Possible
Insurance can be a huge monthly cost when paying for a number of vehicles. The schedule of driving the vehicles can be optimized so fewer vehicles are used. The drawback of this is that not all delivery locations or customers are willing to get a package in the middle of the night. A bulk insurance policy can allow your business to save and tracking mileage can be another way money on premiums can be saved.
Investing in fleet vehicles can take a business to the next level. The right fleet can be the difference between a local and regional/national business. Revs Check Report can be a huge help as it will give you the background of a car. The last thing you want is a car that is has been involved in a multitude of accidents that has hidden damage. The following are other things that you should know about buying fleet vehicles for your business.