The survey of 500 UK SMEs with company-owned cars and vans found that 25% have failed an MoT, racking up £350m in repair bills.

In addition, unforeseen trips to the garage and downtime cost them an average of £4,300 and 1.4 lost working days each in the last year.

And 40% of bosses admit they regularly drive a vehicle that has a fault. In addition, half of the companies (51%) surveyed said their most recent trip to the garage was the result of their own poor maintenance and bad driving, with accidents and pot-holes counting for less than a fifth (17%) and just under a tenth (6%) of incidents respectively. 

Simon Barter, head of SME direct at Lex Autolease, commented: “From making deliveries to driving to sales pitches and meetings, vehicles are essential to the successful day-to-day operations of many UK small businesses. It’s therefore surprising to see that so many fail to protect themselves from avoidable costs.

“Our findings prove that vehicle maintenance isn’t considered a priority by many. By taking simple steps to ensure vehicles are routinely checked and drivers are able to spot the signs of disrepair, businesses could save themselves unnecessary downtime and expense.”