Hi, my name is Jill. After my father was diagnosed with Parkinson's disease, we decided that we didn't want him to spend his last few remaining years sitting around. Instead, we decided to start travelling. We travelled using many different types of transportation, and throughout our sometimes challenging adventures, I learned how to deal with transportation and Parkinson's. To help others who are in the same boat (transportation pun intended), I decided to create a blog devoted to transportation and chronic illnesses or disabilities. In these posts, I plan to look at everything from choosing transportation to travelling safely. Please, explore my blog and enjoy your travels!
If your employees need to drive to see clients, you have two main choices — you can purchase a fleet of vehicles, or you can hire cars when you need them. There are pros and cons to both options, but there are key advantages to hiring a corporate vehicle in particular. Here's a look at some of the benefits.
1. Easier Accounting
When you buy a vehicle or any other capital asset for your business, you have to decide how you want to account for it in your personal records, and in most cases, you also have to depreciate the asset on your tax return. That simply means that you write off a portion of the vehicle's cost every year until you have claimed the entire expense. That process can be confusing and time consuming.
In contrast, when you hire a corporate car, the entire cost is a current business expense. As a result, you can report the entirety of the expense on your accounting records and your business tax return. That's much simpler than worrying about capital cost allowances.
2. Stylish Effect
If your employees are using the vehicle to meet customers, you can create a stylish effect with a hired car, and you can mirror your brand image. For instance, if you want to look flashy, you can hire a car that reflects that vibe, but if you want to look stately, you can choose a car that captures that feeling.
With hired corporate cars, you can change your look and approach at any time. Also, as you aren't saddled to owning the vehicles, you can modify and freshen up your image conveniently as needed.
3. No Repair Woes
Additionally, when your company owns its own vehicles, you have to worry about repairs. With ownership, you have to schedule and pay for routine maintenance as well as emergency repairs. In contrast, when you hire a vehicle, that all becomes the responsibility of the hire company.
If the car ever breaks down while in your possession, you can simply call the car hire company and have them replace it with a different vehicle.
4. Potential Discounts
Although every hire company is different, many companies that focus on corporate hire cars in particular may be willing to offer you a discount. In most cases, the more you use a company or service, the cheaper rates you can access.
5. Location Flexibility
If you choose a hire company with multiple locations, you also get flexibility on where the vehicle comes from. In particular, if your employees fly to a location, they can just hire a car from the airport. That's not possible when you own a fleet of corporate cars.