Fleet cards allows businesses a discount on fuel purchases, maintaining and repair of company vehicles and assists in managing the expense of vehicle fleets. Companies that have numerous vehicles, such as company cars or freight vehicles (e.g. lorries, construction vehicles, etc.), can benefit greatly from using fuel cards. Fleet cards are especially helpful for a company that runs and maintains multiple vehicles or mixed fleets and regularly and go through 1,000 or so gallons of fuel per month.
Whats the Difference between a Fleet and Fuel Card?
Fleet Card Usage
When opening an account for the usage of a fleet card, each member of the company that operates a vehicle will be given a fuel card, to be used for all fuel cost and other expenses accrued due to driving and operating company vehicles. The business simply pays the bill each month for driving expenses and normally no fee’s are applied.
Your fleet card account will then provide your business with an in-depth report and detailed oversight for charged expenses. This allows business owners to budget their fuel and maintenance costs saving time and money. A fleet card has more control, detailed reports and is simpler to use than cash or credit cards.
Benefits of Fleet Cards
A fleet card can assist you in reducing your overall fuel expenses. If you’re new to fleet card management or switching to a different supplier you can gain detailed analytical data on consumption. As a business owner, foreman, or general manager, you usually have enough on your plate and will welcome the time-saving factors gained through fuel management. Between meeting short-term budgets, setting and adjusting long-term goals and finishing the rapid influx of work, fuel cards can help you achieve your targets.
Before fleet cards, businesses had to keep track of their budgets themselves. Security is poor when paying with cash or credit card for fuel. Receipts get lost and there is more opportunity for fraud. A fleet card will save time, paperwork and assist in diminishing your fuel and vehicle maintenance expenses.