5 Ways Business Owners Can Source a Good Deal on a Company Car

If you're a business owner looking to find a reliable and cost-effective company car, exploring different sourcing options is crucial. One interesting approach that has gained popularity is using auto auctions, such as SCA.Auction, where you can find vehicles at significantly lower prices compared to traditional dealerships. Auto auctions can be a hidden gem for businesses seeking a good deal. Here's a comprehensive guide outlining five key strategies for finding a great deal on a company car, starting with the auction approach.

Use Auto Auctions

Auto auctions like SCA Auctions can be a great way to find less costly vehicles for your company. They offer a range of cars, from nearly new to slightly used, providing various options for business owners. Here's why auto auctions are beneficial for company cars:

• Cost Savings: Auctions often have lower prices than dealerships, stretching your budget further.
• Variety: Auctions offer a wide range of makes, models, and types of cars to suit different business needs.
• Bargain Opportunities: Auctions can be a good chance to find well-maintained, low-mileage cars at a fraction of their original price.

To make the most of auto auctions, do some research. Learn how auctions work, understand the terms and conditions, and be prepared for thorough vehicle inspections. Set a budget and stick to it during the auction.

Know Your Business Needs

Before heading to an auction or checking out other sources, determine what kind of vehicle is required for your business. Consider the following:

• Purpose: What will the car be used for—transporting goods, meeting clients, or employee commuting?
• Size and Capacity: How many people or how much equipment do you need to transport regularly?
• Brand Preferences: Do you have a favourite brand or a specific type of vehicle in mind, like a sedan, SUV, or truck?
• Budget: How much can you invest initially, and what ongoing maintenance costs are acceptable?

Understanding your business needs helps you avoid paying for features or models you don't require.

Research the Market

Once you understand your business needs, research the market to get a sense of current prices and trends. For businesses considering eco-friendly options, researching byd novated lease deals can provide insight into the latest electric vehicle offerings at competitive lease rates. This helps set realistic expectations for your budget and identify good deals. You can start by visiting car dealerships and exploring online platforms to compare prices and gather information.

• Visit Dealerships: Visit local dealerships to see the available models and ask about business discounts or corporate incentives.
• Online Platforms: Compare prices and specifications on AutoTrader, CarGurus, and Cars.com, which may help you find certified pre-owned vehicles.

Leasing

Leasing can be a good choice if you want flexibility and lower upfront costs. Leasing means you use a car for a set period, usually 2-3 years, with the option to buy it afterward. Benefits of leasing include:

• Lower Monthly Payments: Leasing generally has lower monthly payments compared to buying a new car.
• Flexibility: At the end of the lease, you can choose to buy the car, lease a new one, or return it without further obligation.
• Tax Advantages: Depending on your business structure, leasing payments can often be deducted as a business expense, offering potential tax benefits.

However, watch out for lease restrictions like mileage limits and wear-and-tear rules, which could lead to extra costs if exceeded.

Look for Certified Pre-Owned

If leasing isn't your preference, consider buying a certified pre-owned (CPO) vehicle. CPO vehicles undergo thorough inspections and usually come with extended warranties, offering quality assurance without the higher cost of new cars. Benefits of CPO vehicles include:

• Quality Assurance: CPO cars go through extensive inspections and reconditioning to meet manufacturer standards for reliability and quality.
• Extended Warranty: Many CPO cars come with extended warranties, giving you extra peace of mind.
• Cost-Effective: CPO cars are generally cheaper than new cars, allowing you to get a high-quality vehicle at a lower price.

To find CPO vehicles, visit authorised dealerships or check online platforms for CPO sales.

Negotiate and Use Discounts

After finding a car that meets your needs, it's time to negotiate the price. Don't hesitate to negotiate, as dealerships and sellers often have some flexibility, especially at the end of the month or year. Tips for negotiating:

• Research and Be Informed: Know the average market price for the car model and use that information to negotiate.
• Leverage Business Discounts: Ask about fleet discounts, corporate incentives, or other business-related deals that could lower your costs.
• Be Ready to Walk Away: If the price doesn't meet your expectations, be prepared to walk away. This approach can sometimes lead to better offers from sellers.

Additionally, explore other potential discounts, such as government grants or eco-friendly rebates, which might offer further financial benefits depending on the type of car you choose.

Final Thoughts

Finding a good deal on a company car can be challenging, but by utilising auto auctions, assessing your business needs, researching the market, considering leasing or certified pre-owned vehicles, and negotiating effectively, you can find the right car for your business without overspending. With careful planning and strategic decision-making, you can secure a reliable company car at a great price.