Why It May be Worth It to Offer Employees a Company Car

GUIDELINES

As 2020 draws to a close and the New Year is upon businesses, this is often a great time to reflect on everything that the company has accomplished during the year, and what goals and milestones will be set out for the following year. It’s the perfect time to take stock and even make some big decisions and changes if necessary.

For those who rely heavily on a remote workforce that needs to spend a lot of time out-of-office attending meetings, sales calls, inspections, and so forth, one thing you may want to take into consideration is the introduction of company cars. Creating a fleet of cars that are meant for your employees to use could actually offer all kinds of benefits, thereby outweighing the cost of the vehicles themselves. Are you unsure this is the right decision for your company? Let’s look at some of the top reasons it could be worth it to offer employees a company car.

An Excellent Incentive to Attract Top Talent

One of the most obvious benefits of offering company cars to employees is that it can act as an incentive. If your company exists in a particularly competitive marketplace then it can be hard to not only find the top talent but keep them. It requires more than just an impressive salary; employees want something more that acts as an incentive.

Providing workers with their own vehicle to use for their job means they don’t have to worry about having a safe, reliable vehicle of their own to use and then putting all that wear and tear on it.

You Don’t Have to Rely on Employee’s Having Their Own Transportation

How many times have employers had to deal with staff that can’t make it to work, or show up late on a regular basis thanks to a lack of reliable transportation? You can take eliminate the problem by providing them with a vehicle.

Any Business Use of the Company Car is Deductible

Of course, there is the tax benefit to a company car, as all business use of the vehicle can be deducted. If the employee is using the vehicle as their personal car outside of work, that mileage cannot be used as a business expense.

Fleet Title and Registration Can be Simple and Quick

Then there is the fact that unlike in the past where you’d need to deal with the title and registration of each individual vehicle, there is now a quick and easy solution. Companies like Acertus can help with fleet title and registration matters, no matter which state you need it for across the entire country. This is especially helpful because you aren’t the one dealing with various state laws and rules, and the many closures that have taken place at state DMV offices due to the COVID-19 pandemic.