Maybe you need a transportation van to make home deliveries. Maybe you want a souped-up truck to carry all your tools and equipment from home to work. Whatever your reason for considering buying a company car, you should take a breath and consider whether you’ve thought the decision through.
A company car ― just like a personal car ― is a significant expense, and if it doesn’t provide any additional value to the business, it might be the cause of your business’s downfall. Especially in new and relatively unproven businesses like startups, such an expense could bleed your business checking account dry before you know it.
Here are a few considerations you should make before you make any trips to the auto dealership for your startup’s first car.