Are you in need of a company fleet? Whether you’re running a logistics company, a healthcare service, or a mobile workforce, investing in company vehicles to ensure convenience and flexibility in your service is a viable business decision. However, it can also be a very expensive one! 

That’s why there’s a lot of prep work to go through first before you bring any vehicle onto your business premises. If you’re going to be investing in such a tangible (and damageable) asset, you need to get ready to keep it in good condition without sinking yourself into debt. 

And the good news is that there’s various ways to do that! Let’s go through them below and make sure you’ve got them in mind for your future as a fleet owner in the working world. 

It’s Best to Keep it Small 

A smaller fleet is much more on the safe side. If you only need one car for your company, only invest in that one car. If you then find you could do with having a spare one available at all times, invest in another one – but only at that point. 

Don’t buy this second vehicle before you have a clearly demonstrated need for it. Without this justification, it’s just an unnecessary expense on your outgoings sheet. 

Keeping your fleet as small as possible for as long as possible will save the initial cost from growing too large for you to pay off in the long term. It also prevents you from borrowing more of an auto loan than you can really afford. 

It Might Be Better to Buy Used

This is another good way to lower the initial cost of investing in a fleet for your company. Buying used can be just as good as buying brand new, and there’s a whole range of cars out there to choose from. 

Be sure to work with a dealer experienced in providing vehicles for commercial purposes too. You’re likely to get a better deal for your operation, and you’re also likely to find a lot more reviews from other business customers. 

What they have to say about the dealer will give you  a very relevant insight into the kind of experience you’re likely to have too, and you don’t get that when you’re buying from a lot that serves very few commercial clients. 

Budget for Long Term Road Costs

What’s it going to cost to keep your fleet fueled up? How much will the average mechanic’s trip cost?

What will you need to pay out in terms of keeping fluid levels up, and the tire pressure in the right place? And when you take out insurance, how much will the monthly premium be? 

These are all things to budget for now, before you put a fleet together. You need to know where the cutoff point will be for what you can safely afford to operate! 

Breakdowns Can and Will Occur

Breakdowns are as common in the fleet sphere as they are on the usual road. You’re never going to be able to own and operate a vehicle without it running into some kind of technical or maintenance trouble at some point. 

Even if your drivers are always on their best road behavior, maintaining defensive driving techniques, and following all rules you’ve set when representing the company, accidents, emergencies, and breakdowns can and will occur. 

Don’t let them creep up on you or smack you in the face. Prepare for them now. 

You can do so by following all proper maintenance procedures; preventative measures are essential for reducing the amount of breakdowns you’ll have to deal with overall. If you’re also running more than just cars from your business’ operation center, be sure to take a multi need approach regarding your breakdown cover. 

Namely, you should find mobile truck repair services in your area or the areas you service and sign up to receive support from them. If you can access real time breakdown assistance no matter where you are, especially for vehicles with non-traditional engines and/or higher load requirements, it’ll be rare for you to have to deal with extended down time. 

Trying to source a repair and removal service for them as and when you need it can bring your operation to a halt, and turn what could have been a simple job into something messy and much more expensive than it needs to be. 

Think About Hiring a Fleet Manager

A fleet manager is a good hire right about now as well. If you’re not sure about the first thing required when it comes to putting a fleet together, you’re going to need someone skilled in this specific asset on your side. 

Firstly, they’re going to know the essential federal and local regulations you need to follow when operating your vehicles. 

Secondly, they’re going to be able to track the usage and cost long term, aligning to important KPIs you may never have thought about. 

And third, they take the responsibility of the fleet off your shoulders entirely. That’s a great person to have on the payroll; just make sure you hire the right one for the job in the first place. 

Investing in a Company Fleet? Consider These Things First

Having a company fleet as part of your overall business assets can be a real boon. However, it’s also a costly mistake to make if you go about it wrong. You don’t need to have as many cars as possible in your lot, and you certainly don’t need a massive storage center to keep them all in. 

Keep it as small as possible when you just start out, make sure you’re aware of the long term costs of keeping your fleet on the road, and try to get a hiring manager on the case as well. At the very least, if someone skilled in fleet management picks up the responsibility, you’ll have less of a financial issue to deal with if something does go wrong!