How to Choose the Right Vehicle for Your Business in Singapore

This might be the first commercial vehicle you are getting for your business, or you might be adding to your fleet of commercial vehicles. Whatever your situation is, we have put together a guide for some features to consider when choosing the right commercial vehicle. 

Purpose of the vehicle

Knowing what your business needs in terms of a vehicle is a great starting point. There are four main types of commercial vehicles in Singapore which serve different purposes. These vehicles are categorised into different categories based on their maximum laden weight. Most vehicles would opt for a light goods vehicle (LGV) and heavy goods vehicle (HGV) to transport their goods around the island. Those in the construction and transport industry would opt for very heavy goods vehicle (VHGV). Another option is also the good-cum-passenger vehicle (GPV) that allows you to transport your goods as well as your employees. 

Cost

It’s a good idea to do your research on the different costs of brand-new and used vehicles, or if you’re leasing, on the different leasing companies. Set a budget that works for your business and stick to it.  Don’t forget to factor in the cost of COE, taxes, fees, insurance, and government mandated and self-scheduled maintenance costs for the vehicle. If you don’t these would all add-up quickly and you would be spending more than expected on your commercial vehicle.

Business Plans

Besides knowing the purpose of the vehicle for your business, you should have a clear idea of where your business would be in the next two to five years. A vehicle is an investment and knowing where your business would be and the needs of the business in the near future would allow you to reduce unwanted costs later on. Consider choosing a commercial vehicle that will help you achieve your business goals in the next five years. 

Now that you have considered the basics of your business and where a commercial vehicle fits in, why not give our team at Pan Pac a call? Our experienced team will help you walk through all the different types of commercial vehicles in Singapore and recommend the best for your business needs. Contact us today at sales@panpacificleasing.com.sg or Whatsapp us at +6584823003.