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“In this world nothing can be said to be certain, except death and taxes” said Benjamin Franklin in 1789. Had he been alive today he might have been tempted to add “and rising fuel prices”. Any finance manager at a company with a fleet of one or more vehicles would be bound to agree. Fuel prices are such a huge part of such a company’s expenditure that even minor price rises can have drastic effects on the bottom line. Discount fuel cards provide a convenient and practically cost-free way of mitigating a company’s fuel spend. While discount fuel cards may not be able to remove the certainty of rising fuel prices, they can hold it off for a little while and help you use less.
Discount Fuel Cards: How They Work
A discount fuel cards company will allocate each vehicle or driver in your company a chip and PIN style card which they can use to pay for fuel at service stations on the suppliers’ network. Your company will then be invoiced on a weekly or monthly basis for fuel bought.
Discount Fuel Cards: Benefits
The benefits available vary between suppliers but can include:
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Reduced fuel price: Usually only available to high volume diesel customers who are happy to use a restricted number of sites to refuel. Buying fuel in bulk and ‘bunkering’ it at these sites allows the company to offer diesel at near wholesale prices.
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Reduced Admin Costs: Drivers don’t need expense accounts for fuel reducing paperwork and payments.
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Improved Cash Flow: Interest free credit for up to six weeks can reduce the strain on your cash reserves.
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Improved Tax Efficiency: A single VAT approved invoice means drivers don’t have to save receipts and you can always claim your tax back.
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Improved Fuel Efficiency: Online account management and fleet management reports enable you to better manage your fuel spend.
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Reduced ‘Leakage’: No opportunity for expense account manipulation or skimming.
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Rewards: Earn loyalty card points or reward vouchers.
It is advisable to compare as many discount fuel cards providers as possible to find the best fit for your company. Often this will come down to factors like where the suppliers’ sites are located, how extensive their network is and how long they allow for payment. Do watch out for standing charges or set-up fees and deposits.
Discount Fuel Cards: Get Quotes
Approved Fuel Cards provides a fast and free method for comparing leading Discount Fuel Cards suppliers based in the UK.
Just fill out our simple enquiry form to receive up to 4 no-obligation quotes for Discount Fuel Cards.
Get Quotes for Discount Fuel Cards
