New business owners can often find themselves in a catch 22.They need to get their business off the ground to start earning money, but they need money to get their business off the ground. It can be a frustrating time for a budding entrepreneur. Financial circumstances can often necessitate compromise and this can cause a disparity between their dream and the reality. One thing that’s essential for many businesses is transportation. A vehicle can be required for collections and deliveries, visiting clients or transporting goods. Unfortunately, this can also be one of the biggest expenses when starting a business. So how can you get around this hurdle?
Taxis are expensive, and over time you can really accumulate a hefty bill if you choose to use them to get around for work. If you already own a car, whether it’s got a dent from that time you reversed into the wall or it’s just not big enough, the chances are that it’s not appropriate for business. You might be able to start out using your personal vehicle, but in the long run it’s probably not professional enough. Asides from that, you’ll have the hassle of keeping it clean and tidy at all times, which we all know is easier said than done.
There is always the possibility of renting a car. If you desperately need transport to get your business started, this can seem like a quick and easy solution to your problems. You can get your hands on a clean, new, professional vehicle in the space of a couple of hours. However, renting can be expensive, and at the end of it you’re left with nothing. If all the money you have allocated for transport goes on a rental car, then you won’t have the chance to save up to eventually buy a vehicle.
If you’re serious about saving for your own vehicle but are still a long way off hitting the mark, then vehicle finance could be a great solution. This allows you to get a new car which you can start driving straight away. You can pay it off in increments, which means that your actually paying for something you’ll own at the end of it, unlike renting. This option means that you don’t need to compromise on the price band of your car, as you can set your payment plan to suit your income. With options to pay weekly, fortnightly or monthly, over a period of usually 6 months to 6 years, you can select options that won’t break the bank. If your business takes off, you can always amend your plan to pay it off sooner. Some car hire companies offer very competitive rates on finance, which can often be better than what the bank has on offer, so it’s worth shopping around to get the best quote.
If you need a vehicle to get your business started, don’t let it hold you back. Getting a car on finance is a brilliant solution, as it allows you to get started right away and ultimately ends in ownership. So why not speak to an advisor and get a free quote today?