C-Suite Advisory

5 Top Things Entrepreneurs Should Consider When Buying A Company Car

Buying a new car is one of the most important financial investments in one’s life. Whether you purchase a family car or a sports car for your racing passion, making the right choice is never easy. However, when you are a successful entrepreneur, deciding on a new car is even more difficult than you may think.

You will use the vehicle for business purposes which means that it needs to align with your lifestyle as an entrepreneur. While choosing a new car often comes to personal taste and the features the car has to offer, when you are an entrepreneur, there are also other several things you need to consider before making your final decision. Here are the 5 top things entrepreneurs should consider when buying a company car.

  1. Who will be driving your car?
    The first thing you need to take into consideration when buying a company car is who will be driving the car. Most reputable entrepreneurs hire personal drivers to take them to their business meetings. While some may consider this a sign of arrogance, when you are in the business world, you can understand why personal drivers are so important for business owners.
    In the business world, time is money. Thus, successful entrepreneurs who have large companies to manage must be ready to take care of all the business responsibilities at all times. When you are driving, answering the emails, texts, and phone calls of your business partners or clients is impossible and this can affect your company. Thus, having a personal driver gives you the freedom to take care of all your tasks even when you are on your way to a business meeting.
    When you are buying a new car for business purposes, you must determine whether you will be the one driving it or your personal driver. If you are planning to hire a personal driver, make sure that the car suits their driving skills and preferences to ensure that your driver will have full control over the car on the road.
  2. Comfort for your business trips
    Your company car will serve business purposes. Your new car will not only be the mean of transport from your home to your office, but you will also most likely use it for your business trips too. Thus, when choosing a new car, you must consider comfort as a top priority.
    Comfort starts with the seats of your car. Imagine driving for hours on your way to an important business meeting in a car chair that affects your posture, leaves you with lower backache, and doesn’t provide you with pleasant driving experience. During a long trip, soft seats that give you the right leg and back support are essential.
    Luckily, the newest cars’ features offer more comfort to the passengers of the vehicle. They allow the proper angle to support the back, arms, and neck and the right distance from the wheel to avoid fatigue and back pain.
    The lower back support is also extremely important not only in terms of comfort but also in terms of safety. An uncomfortable seat that gives you back or cervical pain can be a real danger on the road because it can distract your attention from the traffic. Thus, comfort should be one of the top priorities when choosing a new company car.

  3. The latest car features
    The automotive industry is growing and evolving rapidly these days. Thanks to technological advancements and artificial intelligence, the latest cars offer unlimited possibilities and opportunities for the best driving experience. Today’s cars are no longer only means of transportation but can also enrich the driving experience amazingly through entertainment and improved safety.
    When you are an entrepreneur, you will most likely be on the road for a long time for business purposes. Thus, one of the priorities when choosing a car should be its safety features. You should look for a car that has all safety features including cameras, sonar sensors, blind-spot, and rear cross-traffic monitors to help you avoid accidents on the road.
    Secondly, other important types of features that a company car should have are the technological ones. As a business owner, you need to stay connected with your business all the time even when you are away on a business trip.  Today’s cars can bring technology and entertainment on board with an internet connection, smartphones, and tablets. Screens and wireless headphones are the perfect features for a company car to allow you the opportunity to get online with your clients, employees, or business partners at all times.  You can learn more about the coolest new car features from the experts from Auto Wise.
  4. What will the car say about you?
    Surprising as it may be, your car can say a lot about the way you do business to your partners.   In the business world, the car you drive or get out from represents you in front of your business contacts. It is the image that can say a lot about you to the people you do business with. For example, if you come out of the back of a limousine, you are most likely an entrepreneur that values luxury and has very refined tastes. On the other hand, if you are driving a trendy sports car, you will certainly be perceived as a dynamic and creative business owner who doesn’t fear taking risks for better profits.
    Keep in mind that the car you buy will say a lot about your style of doing business and about what type of entrepreneur you are. Thus, make sure that you choose a car that reflects the image you want others to perceive about you.
  5. Your budget
    Last but not least, when buying a new company car, you must consider your budget. As an entrepreneur, you must decide between leasing versus buying the vehicle. If you are buying the car with your personal finances, there is nothing that you should worry about. However, when purchasing the vehicle through your business, you must ensure that it won’t be an investment that will affect your company’s financial status.

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Ryan Miller
Ryan Miller is CEOWORLD magazine's executive editor of news, writing analysis, and long-form reporting. In his role, he coordinates and tracks the publication of special packages, magazine stories, and the publication’s signature lists. He's a somewhat long-suffering supporter of Manchester United F.C. and a genuinely long-suffering fan of the Los Angeles Clippers.