How to finance a business vehicle? There are many ways but when times are tight it’s important to preserve your capital. Here’s how…
If you’re in the market for a new business vehicle, you know they’re a major expense that puts a dent in your bottom line.
That’s why it’s essential to preserve capital and get the best possible deal when buying a new vehicle for your company.
Here are some tips on how to finance a business vehicle in a way that helps you maximise the savings and preserve your capital for other priorities.
Leverage Fleet Buying Power
The most effective way to save money when buying a new business vehicle is to use a fleet buying service like Driveline Fleet.
With enormous buying power as a big buyer of fleet vehicles, Driveline passes along 100% of manufacturer discounts and rebates directly to you.
This can result in thousands of dollars in savings compared to trying to negotiate with Mr Slick in the showroom on your own.
Mr Slick’s financial incentive is to withhold as much of the manufacturer’s discount as he can to enrich his commission, so it’s rare for you get everything you could have got. And even if you think you did, how do you actually know?
Driveline’s buying power gives us big discounts, which we pass on to you in full. No nasty negotiating for you. Win-win!
Driveline handles the entire purchasing process for you, from accessing fleet discounts to delivery coordination. You simply tell us the make, model, and features you need, and we’ll take care of the rest while getting you the absolute best price.
Get Expert Guidance on Vehicle Selection
Driveline’s expert consultants can also help you analyse your business needs and work through the myriad vehicle options to determine the best fit.
If you’re not quite sure what type of vehicle would work best for your requirements, we’ll provide recommendations based on our in-depth knowledge and industry experience.
Preserve Capital in Tough Times
Preserving capital is especially important when economic times are tough. With inflation running rampant and consumers battening down the hatches, having a cash buffer allows your business to survive periods of lower demand.
Cash is supreme in downturns, so freeing up working capital by getting the best deal on a business vehicle gives your business staying power.
Consider Leasing
Another money-saving alternative to car financing is leasing your next business vehicle. While buying has some advantages, car leasing often results in lower monthly payments. Not to mention $0 deposit and tax-deductible monthly payments. This preserves working capital for other business expenses.
Leases also let you upgrade to a newer model every 3-4 years to take advantage of the latest features and technologies.
That’s how to finance a business vehicle the smart way.
Do Your Research
Financing a business vehicle doesn’t have to be a hugely expensive endeavour. With the right purchasing approach, you can maximise savings and preserve capital for other priorities.
Use a service like Driveline Fleet to explore your monthly payment plan options and you’ll be driving your new business vehicle for much less.
Research your options before making a purchase decision. Your bottom line will thank you.
How To Finance a Business Vehicle & Preserve Your CapitalGet in touch to explore the monthly payment plan options…
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