A small business will go to great lengths to save money. Some ambitious entrepreneurs will sell their car and ride a bike to work. In sunny locales, a few have gone the Vespa route and visit the gas station once every few weeks.
For a company that relies on cars for delivery or sales routes, thinking carefully about which vehicle they purchase is critical. In a few cases, a start-up can create name recognition by driving branded cars that stand out in a crowd, even if the vehicle is mostly for commuting to work and back.
When choosing a car for business, there are a few options available. Check that—there are hundreds of options! Cars come in all shapes and sizes—and at many price points. You can go with a large delivery van like the Ford Transit, attract attention with something like the new Kia Soul, or go the more economical route with a staid (but wholly reliable) compact car.
New tax limitations for 2012 continue to provide significant tax benefits to small business owners. Now when you purchase qualifying GM vehicles for your business before 12/31/12, you could earn a tax deduction of up to $139,000. Plus you can stack other available incentives to really increase your savings.
That makes right now a great time to enhance your fleet while taking advantage of generous tax incentives. General Motors has produced a series of videos that highlight its fleet customers and how they use the automaker’s vehicles.