Fuel cards are important tools that are used by the vast majority of businesses with registered vehicles. They can save businesses a ton of cash, make admin processes quicker and more effective and they can also reduce the risk of diesel theft. If you’re new to the world of fuel cards, then you probably want to learn more about how fuel cards can save you a heap of money. Let’s go through it below!
Discounts and savings
If you use your own car for work purposes, you can claim the portion of running expenses which are used for work. These include:
One of the biggest drawcards of the fuel card is that it can come with some pretty awesome discounts and savings. Fingo Motorpass fuel cards, for example, come with discounts of up to 4c per litre at Motorpass Golden Network service stations, amounting to massive savings across your business.
If you’re a business owner, you can also claim the costs listed above for any additional vehicles that you provide to staff as part of their employment.
Fuel fraud is reduced
Fuel fraud is something that occurs frequently and costs the world multiple billions of dollars every year. Fuel cards, however, make it very hard for people to commit fuel fraud because you can easily and quickly track fraudulent activity, and put a stop to it.
Limit the spending of your employees
It may seem harmless at first for your employee to chuck a Cherry Ripe on the company fuel card… but if multiple drivers are doing it, and are doing it regularly, think about how many thousands of dollars those ‘innocent’ choccy bars and other discretionary purchases are going to end up costing your business. The beauty of the fuel card is that you can set limits for what your drivers can and can’t spend money on.
Improve the efficiency of your business
Fuel cards are great at helping you keep track of information to do with refuelling your vehicles. The information is automatically stored, giving you neat reports on where, when and how your drivers are refuelling. This allows you to analyse and improve your mileage, location and fuel costs, maximising the efficiency of the refuel process and helping you to better budget for fuel. These reports help you understand route costs and calculate whether your employees should be taking a different route.
Reduced admin work
Admin can be a right pain in the neck at the best of times. Fuel cards let you leave that draw of paper fuel receipts in the rear-view-mirror, and all the headaches that come with it. Fuel cards give you a monthly invoice which you simply pay and forget about till the next month. Less time doing admin means less money spent on admin!
These are just some of the ways that using a fuel card will help you save money. We at Fingo, are Australia’s team of car finance experts who have great deals on fuel cards for Aussie businesses. We’ve teamed up with Motorpass, which has a variety of products and services on offer – from services to windscreen fittings to repairs, all being covered on your fuel card. Chat with our team to learn more about their fuel cards today.