Why Canadian entrepreneurs should consider Ford for their fleet

Why Canadian entrepreneurs should consider Ford for their fleet

Posted on September 26, 2022

If you are running a business where your customers count on you to show up, I.e., plumbers, delivery drivers, or any other business that requires a reliable vehicle, then you should consider getting a Ford.

We are going to cover some of the primary reasons to make the transition to a Ford if you haven’t already.

Reliable vehicles that have stood the test of time

Ford has been around pretty much since the first cars hit the road over 100 years ago.

When it comes to building reliable vehicles, there is no substitute for experience, and the engineers at Ford have over a century worth of experience.

Affordable and easy to finance

Ford has built a reputation for building reliable vehicles that are affordable.

They’ve also made it easy to finance the purchase of the vehicle, whether you are doing it via a dealership (recommended approach) or trying to secure financing on your own, you will have no issues finding lenders that are willing to underwrite the loan.

Adaptive technology that grows with your business

If you are involved in delivering cargo, then you may need to use telematics to keep tabs on your vehicles.

The latest generation of Ford has ODP (onboard diagnostic ports) that will work with just about any telematic product out there, like GeoTab.

Finding room in your budget to purchase a Ford

We have touched on the reasons to buy a Ford; now we need to discuss how you intend to budget for the vehicle.

If you are buying an EV, like the Ford E-Transit, then you will save a considerable amount of money on fuel, the average cost of a Kilowatt hour in Canada is about 12 cents when you compare that to nearly $2.00 for a liter of gas, and it becomes a no-brainer.

There are government rebates for zero-emission vehicles or ZEV for short; since these rebates depend on where you live in Canada, you should look into it right away.

Working on your business credit score

Since you will need financing to purchase the new vehicle, it would be in your interest to be prudent on your part to make sure your credit is up-to-date.

Most lenders will require you to personally guarantee the loan even though you are purchasing it for your business.

While you can deduct the interest on the loan as a business expense, the principal portion of the payment is not deductible.

If you are certain you won’t be exceeding the maximum amount of KM per year, you might consider leasing the car.

When you lease a vehicle, the entire payment is tax deductible which is great when trying to mitigate business liabilities.

Since we are not accountants and don’t know your personal situation, consider speaking with your accountant before you make any choices.

It would also be smart to work with a local car dealership that, like you, is running a business in your community.

By dealing with a local dealership, you will receive a level of customer service and satisfaction that cannot be found anywhere else.

When you’re ready for a car lease or loan, get in touch with the auto loan experts at Northway Ford for great deals on auto finance.