Considering a Lease vs. Buy Scenario Can Save Your Business

Many companies are asking employees to drive their personal vehicles for work purposes these days, but that can be costly on the employee, and tolling on their car. From Head Start Programs to social welfare programs, sales associates to wine and liquor representatives, on-call nurses, and cleaning services, companies routinely require that  employees complete their work  in their personal vehicles. Not only can this be dangerous, but it can be unreliable.

You see an ad for a job: “must have reliable vehicle”  and you answer the call, not understanding just how much you will need to drive, but the job entails several different visits a week and though the employer might reimburse for gas, they do not reimburse for the wear and tear on the vehicle. What happens when the vehicle malfunctions because of driving the vehicle for a work-related call and it simply got worn out or there was an accident? Not only is your employee unable to get to work and complete their job, they no longer have a personal vehicle to get them to any job.

 

Taking on a fleet of vehicles can be a big step, but one that will help to create an atmosphere of professionalism and employee loyalty. 

When you have decided to finally build a fleet of vehicles for your company, where do you start? What is the best financial move for your company?

Consider the use of your vehicles, who will be driving them, what condition you want them to remain in, and what you can sustain paying for.

Weighing out those options is the most important thing you can do. You may realize you have a lot of employees who rotate through, thus, the use of your vehicles changes with the employee. You may find that you have a few, dedicated employees who need their own personal vehicle to carry all of the items they may need on a call. This is where you start weighing the two options. Buying a few vehicles vs. leasing several.

This is all going to come down to how you finance it, and how long you want to keep paying on it.

Obtaining a vehicle fleet can be an excellent way to set the standard in your own industry by putting the right tools in the hands of your employees for them to be successful. 

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