Hi all,
I'm looking for options for the best way to manage fuel expenses at a small company.
Currently, approximately $40-$50K a year is spent on 4 company vehicles, all running diesel. This is all paid for via cash.
I am wondering if anybody here is using a credit card/fuel card and what the benefits are. This is all relatively new to me however I'm sure we could be saving something… even 2%…
Located in Victoria.
Thanks
That site is sponsored by Fleet Card (=Business Fuel Cards).
Cheaper to install the fuel tank at your joint ?
Woolworths/Caltex gift cards for 4% off?
Buy with points accruing credit card , possibly add everyday rewards and fuel vouchers?
Except it will be a pain to keep 50k worth of business receipts.
Woolworths/Caltex gift cards for 4% off?
See comment below about employees buying other stuff with their fuel cards.
Currently, approximately $40-$50K a year is spent on 4 company vehicles, all running diesel. This is all paid for via cash.
Tell the boss to get a CDC and use that to pay for all expenses. The minimum cashback is +$800 when spending $40,000 pa on the 2% tier.
My old housemate would buy cigarettes and snacks with his fuel card. So you probably don't want that one.
My old housemate would buy cigarettes and snacks with his fuel card.
With a caltex star card, you can enable/disable things like retail purchases, car washes, tolls, services with the card.
You can also make it part of policy and have recourse against staff who misuse the card.
You can also make it part of policy and have recourse against staff who misuse the card.
It's true, but I wouldn't recommend it. Disciplining or terminating employees is a loose-loose scenario.
And they can block even retail purchases made at servos?
I am wondering if anybody here is using a credit card/fuel card and what the benefits are
Mainly improved accounting. They'll provide a monthly bills and 55 days of credit. You can add features like paying for car servicing, washing and tolls on to the same bill. Getting 55 days of credit for a toll account is nice, compared to the usual pre-paid accounts.
You get a minimal discount on the fuel - 2c/L (on the pump price) from memory. Not clear if you can negotiate a bigger discount based on your volumes.
Can’t believe you haven’t done this sooner.
Anyway, one thing to consider is the difference in price between the fuel card brand and discount servos. Ie locally there’s a couple of metro servos that are consistently at least 5cpl cheaper than shell, ampol etc. today one is 15cpl cheaper than others.
I used Wex Motorpass and Fleetcard. At the time, we were offered a honeymoon rate which was okay. I'd recommend constantly looking as the rates and incentives change every year.
The biggest issue we ran into is techs taking the cards with them when swapping vehicles then wondering why they can't get diesel (or vice versa).
https://www.fuelcardcomparison.com.au/eligibility-check/