The economy is putting more and more strain on businesses, and many small business owners and entrepreneurs are looking for ways to reduce their overheads and tighten their belts.

If you run a business that operates a fleet of cars and vans, or even if you just have one company car for getting to meetings, there are some significant savings out there if you know where to look. 

Here are five simple things that any business owner can do to cut the costs of their business vehicles and pump up the balance sheet.

Find Cheaper Car Insurance

No matter what type of vehicle you or your business uses, savings can be found if you shop around for car insurance. Even cutting the cost of your personal car insurance can help by giving you more time and money to invest in your company.

Looking for car insurance has never been easier. Searching for car insurance at CompareNI.com takes seconds and shows you deals you will not find on other sites from over 80 providers. This will allow you to find relevant insurance to protect your vehicles.

Switch To EVs

Electric vehicles, or EVs, are becoming more common on the roads around the United Kingdom. They are particularly popular as commercial vehicles, as they offer substantial long-term savings over their traditional Internal Combustion Engine (ICE) counterparts.

They are much cheaper to maintain, and by having car chargers at headquarters, and using the rapidly expanding network of car charging stations in the UK, you can make massive savings on fuel.

Use Tax Incentives To When Buying Or Leasing

There are several schemes available to businesses that can make buying or leasing new commercial vehicles cheaper, especially if you are considering switching to electric cars and vans.

You should work closely with your accountant to look at all of your options. Limited companies will often find leasing more tax-efficient in the long term, as the entire lease payment is a legitimate business expense. When financing a car with a loan, only the interest payments are tax-deductible.

Reduce Your Fleet

Operating lots of vehicles can be complex, time-consuming, and costly. By organizing your fleet more efficiently and having workers share vehicles you can considerably cut your costs. 

Arranging the logistics of vehicle sharing can be complicated, though there is help out there. By investing a little time, however, you can make massive regular savings on your vehicle overheads. Using smaller vehicles, with more efficient engines, can help reduce costs too, on fuel, insurance, and road tax.

Train Drivers To Drive Efficiently

Fuel costs are one of the biggest regular expenses when operating a commercial vehicle. The more cars, vans, and lorries your business needs the more you are spending every week on petrol and diesel.

Though training staff does require some financial investment, by training them on efficient driving techniques, you will see consistent regular savings every month on every vehicle. Simply reducing the amount of equipment or supplies that your vehicles carry can significantly impact your fuel costs if you operate a large fleet.

Just one or two of these top tips can help you reduce your vehicle overheads and give your business some significant savings.