Should Letting Agents Invest In Company Cars?

It isn’t hard to find a business owner with a long-standing ambition to get a company car. It can be a sign of success, but it’s more a statement of intent, showing a total commitment to the company and a determination to excel. And it’s often worth getting a company car — but not always. So what’s the verdict for letting agents? Should they bother with company cars?

In this post, we’ll cover the major pros and cons of letting agents investing in company cars, and reach a conclusion about whether it’s a good idea in a typical scenario. You could also consider electric car leasing as you’ll save money on fuel.

They help with getting to appointments

Being timely is rather important for a letting agent, regardless of whether they’re meeting a prospective employer or showing a property to an interested party. Showing up a few minutes late sets a bad tone that can have major consequences. And while traffic can always cause problems, having a dedicated company car means two things: always having a vehicle available, and never needing to lean on unreliable public transport.

They tack on a lot of expenses

You don’t just need to pay for buying or leasing the car: you also need to pay for insurance, fuel, general maintenance, and whatever decals you want added. There are steps you can take to mitigate these expenses — you can carefully compare deals, save on fuel with fuel cards (see iCompario for more), be very careful with your company car to avoid the need for mechanical intervention, and settle for minimal branding such as car decals from Vistaprint — but you’ll still end up spending a fair amount of money.

They can be powerful branding tools

Branding is important to companies of all varieties, and it’s certainly a big deal to letting agents who need to do everything they can to stand out. They need to convince landlords to work with them, and they need to come across well when they deal with potential tenants. Well, one great way to make a strong impression is to have a company car branded with your logo, slogan, and anything else you want to show off. An eye-catching vehicle can make you very memorable.

They’re not useful for virtual showings

Due to the 2020 COVID-19 pandemic changing a lot of things, there’s been a huge rise of virtual property showings, and a company car won’t help you with one of those. It would be irritating to invest in a company car but end up leaving it unused most of the time because you didn’t have any in-person showings. Accordingly, you might want to wait for things to settle down.

So, should letting agents invest in company cars? I’d say it depends on how many in-person meetings they have. If a letting agent often needs to show people around properties, then picking up a modest company car and branding it neatly could work well. Otherwise, they should wait to see what happens with the industry in the coming year: this isn’t the right time to make a speculative investment.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

UK monthly property transactions for May 2025

Headline statistics from the latest transactions data include: the provisional seasonally adjusted estimate of the number of UK residential transactions in May 2025 is 81,470, 12% lower than May 2024 and 25% higher than April 2025 the provisional non-seasonally adjusted estimate of the number of UK residential transactions in May 2025 is 80,530, 13% lower than May 2024 and…
Read More
Breaking News

Construction Skills Mission Board (CSMB) shows the Government has a plan

The Construction Skills Mission Board (CSMB) held its first board meeting today (26 June 2025), where it set out a roadmap for recruiting 100,000 more construction workers a year by the end of Parliament. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “The Construction Skills Mission Board (CSMB) is a recognition…
Read More
Paint Stripper Tools
Estate Agent Talk

5 Strategies to Optimise Your Warehouse for Real Estate

The term fixer-upper can mean many things, from ‘slap some paint on the walls and it looks brand new’ to ‘will this building collapse if we open the front door?’ Indeed, in the dicey world of commercial property acquisition, each warehouse you buy will probably fall into both camps. Thinking about the viability of warehouses…
Read More
Breaking News

HMOs sell for up to 50% above market average

New research from Excellion Capital, the boutique debt advisory and investment firm, reveals that HMOs sell for as much as 50% above the average house price, further increasing their investment potential after it was revealed that HMOs also create rental yields of up to 12.5%. After previous research from Excellion Capital recently showed that the…
Read More
Breaking News

UK buyers struggle while 50,000 homes sit empty

As the UK housing crisis deepens, new analysis by Open Property Group exposes a worrying surge in so-called “zombie homes”- properties that sit unoccupied and deteriorating while millions struggle to access affordable housing. Key insights: 50,000+ long-term vacant homes in England alone 23,000+ of these have been empty for more than two years Estimated £13.6…
Read More
Breaking News

Breaking Property News 26/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   The UK is Europe’s second most distressed market despite headline GDP growth Retail and Consumers Goods has emerged as the most distressed sector in Europe, with distress levels now the highest since the global financial crisis, according to the latest Weil European Distress Index (WEDI). The…
Read More