How investing in haulage can help grow your business
If you are looking to build your business, investing in commercial vehicles can help you do it. Let's discuss your vehicle finance options
If you run a business in the manufacturing, wholesale or retail sectors, you're always going to be highly dependent on either contracting truckers, couriers or your own fleet for sustaining your operations from day to day. The more vehicles you have, the more smoothly you can transport large quantities of your product from place to place, helping you complete big sales and bring in more capital to grow your business.
There's just one problem: Buying those trucks in the first place can be expensive. You don't want to spend years waiting until you've saved up enough cash to buy a vehicle or two - so why not explore alternative strategies, such as commercial vehicle leasing, to help you buy sooner?
Large vehicles are a business boon, if used safely
The argument in favour of expanding your distribution is clear - the larger your company's fleet of vehicles, the easier it becomes to shift your product and increase revenue. The caveat, though, is you need to be vigilant about making sure your company's vehicle use is efficient and safe.
According to National Heavy Haulage, arranging frequent pre-trip inspections can ensure your vehicles are in working order and unlikely to present maintenance issues. In addition, training drivers and other staff members to operate large vehicles safely is important for minimising risk. Handle both of the above, and a haulage fleet should be worth the investment.
Why leasing might be the way to go
Once you've decided your company can benefit from commercial vehicles, the next question is how to get them. Some choose to save money by renting or borrowing vehicles; this is cheap in the short-term, but there's often a better long-term strategy. CarsGuide notes that businesses in Australia can often uncover tax benefits by making deductible lease payments; generally, this makes leasing a better deal.
Having said that, the vehicle financing options available to your business are largely dependent on your specific financial circumstances. Talking to the experts can help you fine-tune your funding strategies.
Exploring your vehicle financing options
The toughest aspect of investing in new vehicles for your business is managing your cash flow as you do it. It's not easy to make a big purchase and still keep cash left over for all the other expenses that come up in the course of running the business.
Luckily, at Classic Funding Group, we offer tailor-made plans for financing your vehicles . For help with making payments that are affordable and cash flow-friendly, contact us today.
To help your business move forward in 2020, we are running a commercial vehicle finance special offer. Click here to learn more.