Whether you’re running a business that involves a van to transport equipment around in, deliver products or just require an executive car for commuting and client meetings purposes, it can be a costly expense. Getting the best value for any vehicle you hope to purchase is the main aim but it’s vital to consider depreciation too.
Depreciation can provide a big loss for your company, which can be especially damaging for start-ups and small businesses when there’s only one or two vehicles in use. There are a few things to think about and do to decrease depreciation when buying new or used vehicles.
Pick Popular Vehicles.
When buying a new vehicle always have how easy it will be to sell on at the back of your mind. Research and choose popular models as not only should these be the most reliable but they will already have an audience interested.
Going for a more unique colour or design can be tempting but will prove harder to shift. Likewise ensure it is easy to paint over any of your company logos which get stuck on the front, back and sides of your van without making anything permanent.
Check Running Costs.
Vehicles with low fuel efficiency aren’t going to be popular with new buyers, especially considering the new road tax bands the government have introduced. As petrol and diesel continues to increase in price too, this is going to further speed up the vehicle’s depreciation.
Not only that but it will be expensive for you to run. Thinking ahead and going for hybrid models where possible and other types of vehicle which look set to become popular by the time you need to sell the vehicle is a wise move. Look at the existing mileage and think about how many more you’re likely to do as it may not be worth selling at the end anyway.
Service and Maintain.
Whatever car or van you decide to purchase the main thing which will keep depreciation levels to a minimum is looking after it well. Regularly clean it and keep in good condition while driving sensibly to prevent the chance of damage.
Make sure it is taken in for the appropriate services and any advised work is done. Potential buyers may be able to spot any faults. Keeping the mileage low also adds on more value. All these tips, if adhered to, should add on a significant amount when it comes to selling your business vehicle.