April 28, 2024

Eyes on Business

the alliance of people in business

Ask Yourself This Before Buying A Company Car

1 min read
Ask Yourself This Before Buying A Company Car

Whether you are a business or a startup, you might wonder if purchasing a car or vehicle for your company is the right decision.

According to the Australian Bureau of Statistics, there are over 3.8 million commercial vehicles (buses, trucks, and other light commercial vehicles) on the books from Australia. That’s a lot of options.

Ask yourself this question if you’re unsure whether or not a company car is for you:

Will the company use it over 50 percent of the time?

The most important question you must ask yourself is what the car will be used for. Is the car you would like to buy going to be used for business transactions (going to meetings, picking up supplies, deliveries, driving to sites) over half the time?

If not, your purchase may not qualify as a profitable business purchase.

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