Running a fleet of cars or vans can be expensive and often the costs are largely underestimated by businesses. If you’re looking to invest in your own fleet, it’s important to ensure you have a good idea of what it’s going to cost you. This includes not just the initial purchase or leasing costs, but the tax, insurance, and fuel too.
Here we’ll look at what it typically costs to run a fleet of business cars to give you a general idea of what to expect.
Main Things to Consider
The actual cost of running a fleet of vehicles depends upon a wide range of factors. These include:
- Make and model
- Tax
- Fuel
- CO2 emissions
- Repairs
Obviously, the make and model is going to have a significant impact on the costs. Newer, luxury models are obviously going to be more expensive to lease or buy, while older vehicles may be difficult to repair due to how scarce the spare parts will be. The make and model also impacts how much car tax and insurance you’ll need to pay. Then of course, there’s the fuel to consider.
You’ll also need to work out how many miles your fleet is likely to cover before you can come up with a comprehensive cost estimation.
Are online calculators a reliable tool for cost estimation?
There are quite a few calculator tools online, offering a general overview of how much a fleet will cost over the lifetime of the business. However, while they can provide a very rough idea of the costs, they aren’t necessarily going to be overly accurate.
A better option would be to turn to a company such as CAP HPI. They offer a full, in-depth breakdown of the costs of your chosen fleet and give you an accurate idea of what to expect. This helps you to make the wisest choice on what vehicles to choose and eliminates the risk of experiencing unexpected service costs.
So, while online calculators can be useful, it’s a much wiser idea to use the cost evaluation services of a professional company.
One you do have an idea of how much your fleet will cost over the lifetime of the business, you can then start to work out ways to reduce the costs. Overall, running a fleet of vehicles can be extremely expensive and it’s easy to forget about the running costs involved. If you’re looking to make the best decision on which cars or vans to add to your fleet, it’s definitely worth seeking expert advice.
Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.
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