- The high rate of car ownership in the US makes company vehicles a visible and effective advertising tool.
- A company vehicle can reduce transportation costs, offer tax deductions, and improve employee morale.
- Company vehicles enhance professional image and build customer trust, especially in service-oriented industries.
- Regular professional checks, cleanliness, tracking mileage, and employee training are essential for maintaining company vehicles.
- The company vehicle physically represents your brand, furthering the need for regular maintenance and care.
As a business owner or an entrepreneur, you consistently look for ways to improve your day-to-day operations. Investing in a company vehicle is a great way to improve your business. A company vehicle can do more than provide transportation for your team. It can also increase your company’s visibility, save your business money in the long run, and improve company morale. Here’s what you need to know about vehicle ownership in the country, why a company vehicle is one of your best assets, and how to maintain it.
Car Ownership Rates
It’s estimated that over 90% of American families own a car. This makes the United States one of the top countries with high car ownership rates. Many of these families use these vehicles for business, and with such a high percentage, it’s evident that cars play a significant role in daily American life.
Why Invest in a Company Vehicle?
There are various reasons to invest in a company vehicle. Here are some of those reasons:
1. Increase Visibility
Your company vehicle is a mobile billboard for your business. Depending on your line of work, you may drive to different neighborhoods around the city, visiting other businesses or clients. When you or your employees park your company vehicle, potential customers will notice your branding and marketing messages. This helps create brand awareness and increases the chance that someone will reach out to your business for their needs. The more you and your team are out and about, the more likely potential customers will discover and remember you.
2. Save Money Over Time
Investing in a company vehicle can also save your business money in the long run. Buying a car with a larger cargo space, better fuel efficiency, or even an electric vehicle can dramatically reduce overall transportation costs. It can help reduce travel reimbursement costs for employees who use their vehicles for work purposes. You can also write off the vehicle’s cost as a tax deduction, significantly reducing your tax bill at the end of the year.
3. Improve Company Morale
Your employees will appreciate having access to a company vehicle. Driving a personal car can burden employees when filling up gas or worrying about wear and tear on their car. Employees offered a company vehicle will appreciate the convenience of not worrying about these issues. Your team will also feel more valued when provided with the resources they need to do their jobs more efficiently and safely, which can increase morale and motivation.
4. Build Trust with Customers
In some industries, customers expect to see company vehicles. A company vehicle helps your business appear more legit and professional. When you have a client or customer that needs your services, showing up in a company vehicle shows that your company is legitimate and can build trust. A company vehicle can also help put your customers at ease. For example, a plumber or electrician will often drive marked vehicles because it gives customers peace of mind that they are letting a professional company into their homes.
How to Keep Your Company Car Maintained
There are various reasons to keep your company car maintained. Here are four ways:
Visit a Professional
It’s important that a professional gets to check your vehicle annually. A reputable auto shop can check your car for any potential issues and provide you with a list of recommendations for maintenance. Additionally, follow the manufacturer’s recommended maintenance schedule for your specific vehicle.
Keep it Clean
Maintaining a clean car is not only critical for appearances but also crucial for preserving its value. Regularly washing and waxing your company vehicle can help protect its paint from harsh elements, such as UV rays and road salt. Keeping the interior clean shows you care about the vehicle and your business’s image.
Keeping track of your company vehicle’s mileage will help you stay on top of regular maintenance tasks, such as oil changes and tire rotations. It can also give you an idea of when it may be time to start thinking about purchasing a new vehicle or upgrading to a more efficient model.
Lastly, make sure to educate your employees on proper vehicle care. This includes simple tasks like filling the gas tank and checking tire pressure regularly and more complex tasks like understanding warning signs for potential issues. Establishing a culture of responsibility is essential when taking care of company vehicles.
Investing in a company vehicle provides numerous benefits and advantages. In addition to these strategic advantages, the company vehicle also serves as a physical representation of your brand, further emphasizing the importance of regular maintenance and care. By upholding high standards of upkeep, your business not only prolongs the life of its assets but also strengthens its image in the eyes of clients and the general public. So, if you’re considering ways to enhance your business operations, purchasing a company vehicle should be on your radar.