When you’re looking to invest energy, time and resources into using a fuel card for your fleet you will most likely frame the process around finding which card best fits the needs of your business. One aspect of choice in fuel cards is in the different rebates that are offered. We’ll help you better understand what rebates are and how to find the card that’s right for you, taking those rebates into account.
What is the best way for a fleet manager to increase their bottom line?
When business owners are focused on realizing savings for their business, controlling fuel costs, cost-per-mile and how to manage fuel consumption are the three main areas of focus. Fuel consumption is the number one expense of many operations that carry a fleet these days with fuel prices always fluctuating . While fuel prices always fluctuate, the cost is currently high. This increase in fuel costs makes potential savings from fuel rebate programs timely and useful. When cutting costs, every dollar saved in fuel consumption goes directly into your pocket.
How do rebates work?
Rebates are usually broken into tiers and while the savings seem small at a glance, those dollars quickly add up when your whole fleet is fueling up. The way tiers typically work, you save a certain dollar amount per gallon of fuel depending on how much fuel you purchase in a given month. The tiers are broken up by gallon volume: one example would be for a fleet that purchased 500 - 2,500 gallons in a given month, they’d receive a rebate of 3 cents per gallon. If that fleet purchased 2,500 - 4,999 gallons that same month, their rebate would go up to 4 cents per gallon. If they purchased between 5,000- 6,999 gallons their rebate would be 5 cents per gallon, and so on.
Rebates are typically based on how much fuel you purchase at the issuing brand every month, so rebates are directly tied to buying loyalty to one brand. Your rebates will show up as a credit on your invoice based on the number of qualified gallons purchased.
How do you know which fuel card to choose?
The best way to determine which fuel card makes the most sense for your fleet business is by starting with where you will be fueling your vehicle. By selecting a brand where you’d most often purchase your fuel, you’re giving yourself the best option for increased fuel savings.
Most major fuel and convenience brands that partner with WEX offer a card that can only be used at their own locations. Many WEX partners also offer cards that are accepted at 95% of U.S. gas stations, as well as thousands of service locations nationwide — you have greater flexibility to fuel wherever you need to, and still earn rebates when you fuel at the issuing brand.
What’s the process for signing up for a fuel card once I’ve researched the different rebates?
WEX has a card selector tool which can help you pick the fuel card that’s right for you. In the online tool, you enter your location, and you will be directed to all the brands nearby. From there, once you select one of WEX’s partners you can go directly to the application and either apply or get more information. If you have questions, or need help deciding, contact a WEX representative who can help you determine which card best suits your needs.
What are promotional rebates?
WEX partners often provide special rebates as incentives to sign up, and typically revert to a standard rebate when the promotional period ends.
What other savings programs are offered with fleet cards?
Many fuel cards offered by WEX also help you save on products and services beyond fuel, with access to exclusive discounts on tires, hotels and more.
What gas companies near me offer good rebate programs?
Here are some brands to explore that offer great rebate options:
- Kum & Go
- Phillips 66
- Quik Trip
Whatever way you choose to go, doing the research on rebates and savings programs will be a good strategy for landing on the perfect gas card for your business.
All fleet cards are not the same, and different types of fuel cards suit the needs of different kinds and sizes of businesses. View WEX’s fleet card comparison chart to see which fleet fuel card is right for you.
To learn more about WEX, a growing and global organization, please visit wexinc.com.