Company bosses are willing to spend more than £100 a time on car hire in order to improve their professional image when attending a business meeting, according to research by RAC Business.
The survey, carried out among 1,000 small businesses, found that more than half of bosses (52%) have temporarily upgraded their vehicle for an important event, with men more likely than women (60% compared to 44%) to do so.
Nationally, the average amount company bosses spend on short-term car hire is £102 per hire, while long-term leasing was considered less viable with just one in four (24%) businesses considering leasing a vehicle for use long term.
Regionally, Londoners came out as the most car conscious with two-thirds (67%) of company bosses admitting they would be willing to hire a car for a big meeting.
Bosses in the south west were the least concerned, with the same figure (67%) opting for their usual wheels for important meetings.
Younger managers aged 25-34 years old were more likely to spend out (58%), compared with drivers aged 55 years and above (28%).
Jenny Powley, sales director corporate business, RAC Business says: “Businesses that run vehicles they feel are not up to the job should consider a long-term leasing option as it will make sense financially over time, as opposed to one-off hire costs on an ad-hoc basis.
“Leasing a car makes good sense for lots of businesses across the country, particularly for those that are on the road a lot and need a vehicle that is reliable and smart.
“The last thing company bosses want to think about when they are trying to make a good impression is unexpected servicing or breakdown costs, which short and long-term hire prevents against.”
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