The Pros and Cons Of Owning Your Own Fleet

Many businesses require their employees to drive on company time, whether delivering goods, making in-person appointments or driving to and from meetings. You may have considered providing company cars to help employees do their jobs, but you’re not sure if you should take on the extra expense. There are good reasons you should own a fleet of vehicles.

The pros

Provide specialized vehicles

If your employees deliver large items, carry specialized equipment or are tasked with meeting specific needs on the road, you can pay for them to retrofit their own vehicles with interior and exterior storage solutions. Keep in mind, these likely create extra costs and liability for your business. When vehicles get damaged as a result of transporting your product, you may be liable for repairs and vehicle value depreciation.

Providing a specialized truck or van is an option that lets you control liability while creating a more efficient way to transport equipment. It can also save you time — so long as you have a safe place to keep your vehicle, you can leave equipment overnight without having to load and unload every day. The more specific your company’s vehicle needs, the better the case for providing a company vehicle

Advertise your business

If your fleet is made up of delivery or service vehicles, then you have a great opportunity to capitalize on mobile advertising. You and your employees are more likely to be invested in safer driving as it has a direct impact on the perception of your brand.

Branded vehicles can amplify your brand for those you work with in a positive manner as well. Arriving for a meeting in a run-down vehicle may hurt your company image, while a vehicle that’s too luxurious might call into question your company’s spending habits. If you want to have specific control over the image your vehicles represent, a corporate vehicle is the best way to do so.

Gain easier oversight

Your employee and community safety is a central concern. When your employees drive their own cars, you can’t manage or control maintenance, insurance, upkeep, or other safety concerns. A fleet vehicle guarantees employees are current on insurance and maintenance, as well as you can easily track your employees’ driving records and habits.

The cons

There are setbacks and challenges associated with fleet ownership that should be considered before signing on the dotted line.

Upfront cost

The initial purchase of a fleet is a significant investment, even with bulk commercial vehicle discounts. There’s also maintenance and asset depreciation to consider as vehicles age. Consider that you may be avoiding unreliability as well as liability of your employees using their own vehicles – the long-term cost of a company fleet may be lower.

Vehicle storage

Depending on the size and use-case of your fleet, you have two options: let your employees take the company vehicles home between workdays or store them at work. If stored at work, you’ll need somewhere to put the company vehicles — realistically, it’s not the best idea to store them in public parking areas.

Parking your vehicles somewhere central means having access and utilizing a dedicated parking lot, security cameras, locked gate and other safety measures. A fleet of company vehicles remains susceptible to being stolen, so security is a concern.

Utilize driver risk management software solutions

The most important aspect – making sure that those behind the wheel of your vehicles are the best and safest drivers. If you choose to own your fleet of vehicles, then a driver risk management platform like SambaSafety’s is not just necessary but required. Fleet vehicles are assets in need of protection and while you can’t control your drivers and may not even know who fully encompasses your fleet, you can determine which ones are safe enough to get behind the wheel on behalf of your business.