With the final rounds of the 2018 World Cup approaching, the question on everyone’s mind is “can England get to the final?” But for many business owners this summer who face the challenge and uncertainty that Brexit may bring to their company, the question they are asking is “should we be outright purchasing or contract hiring our vehicles?”
More so now than ever before, businesses are facing the financial challenge to tackle their own growth, versus uncertain market conditions, combined with risk of significant investments for their company fleet and vehicles.
For many companies who traditionally invested in the outright purchasing of their vehicles, the risk of not investing could potentially damage their future growth, but the risk of over investing could also present them with challenges too. Not to mention factoring into the mix taxation the cost of MOT’s, servicing, maintenance, repairs, breakdowns, accident management and disposal.
It’s no wonder why businesses are asking questions and uncertain of what tactics to deploy.
Fresh thinking to help your business succeed
At Sandicliffe Motor Contracts we believe the answer is reducing your risk by moving your business vehicles and fleet to contract hire, giving you the confidence to grow and the reassurance to free up capital in your business to help you succeed.
The fundamental difference between contact hire and outright purchase in the initial cash injection needed to purchase the vehicle. In the modern age, smart businesses want to avoid shelling out large lump sums of money and use their cashflow more positively by investing that valuable cash back into the business, thus reducing risk of financial strains.
The other main benefit of using contract hire is budgeting. With contract hire you have one fixed sum that includes all your motoring costs. This allows businesses to know exactly how much their fleet will cost each month, without any hidden surprises – helping manage the expectations of their investors.
Contract hire also presents businesses with the possibility to utilise newer, cleaner and more efficient vehicles. Not only can they save businesses money in running costs but also helps to keep employees happy and improve the public image of the company.