If you do a substantial amount of driving for your business, it may be time to purchase a company car or make your personal car suitable for business use.
Owning a business vehicle is a cause for celebration, as it offers freedom and independence, not to mention tax breaks! If you use your car solely for business, you can deduct its entire cost of operation (subject to IRS limits). Meanwhile, if you use the car for both business and personal purposes, you can deduct the cost of its business use.
Meanwhile, some entrepreneurs buy a company car or upgrade their personal car because they believe it conveys prestige and success. But using your car for business has its pros and cons. Thankfully there are a few factors that can make the experience stressful or hassle-free.
Check out these practical and creative hacks to ease the stress of owning a company car.
Keep your company car roadworthy
Keeping your car as roadworthy as possible is so important these days, and you need to make sure you are focused on improving the way it runs. Most of your company car’s troubles can be avoided by keeping track of your car, by maintaining it correctly. Regular maintenance is known to prevent a lot of problems your car might run into if it wasn’t taken care of.
Car maintenance apps can help you stay on top of things and manage services that need regular attention. For example, the AUTOsist car maintenance app offers a repair log and fuel tracker for your vehicle. You can maintain a complete service history and share it as PDF. Custom reminders are helpful and keep you alert to important tasks.
Buy the right car insurance
A standard car insurance policy covers you for social, domestic and personal use, which includes everyday driving such as visiting your significant other, shopping trips or a day out. Many policies automatically cover your car if you commute to and from a regular place of business. Depending on the type of use you may be okay with standard premiums. In this case, research the cheapest auto insurance premiums in the market. Review at least 3-5 quotes to make sure you’re getting a good deal.
The same tips apply to commercial auto insurance which may however come with higher premiums. If you regular transport deliveries to customers or drive long distances to meet clients or visit job sites discuss the issue with your insurance agent. Your insurer might be able to modify your personal auto policy, for an added cost, so it includes your business-based driving.
Keep an eye on gas expenditures
Use free apps like GasTracker+ from Fuelly to track your gas usage. GasTracker+ uses various metrics to help you track and analyze your fuel usage. This helpful app tracks your fill-ups based on price and gallons, shows the miles you’ve driven from each tank, and sorts city and highway mileage.
GasTracker+ uses this data to help you drive more efficiently. There’s also a handy feature to help you keep track of when to complete your next oil change and schedule your annual inspection.
Make your car smarter
These days there’s a gadget for every car enthusiast whim. Make your car smarter with affordable tech. For example, the Automatic Pro plugs into your car’s diagnostic port and sends information to your smartphone. The report includes trip statistics, where you parked, and what’s wrong with your car when the check engine light comes on. Meanwhile, you can fully embrace wireless charging with a Qi-enabled car mount. It looks and functions exactly like a standard suction cup car mount, but charges your phone while holding it in place.
As you can see, there are practical and creative ways to ease the stress of owning a vehicle for business and pleasure. Start with these smart hacks and get on the road with ease.
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