Fuel cards: You can now get more than just fuel

Owning and operating a fleet of vehicles is complex. From managing maintenance and repairs, to fuel management, to ensuring you have the parts and tools you need to keep your vehicles on the road, there’s a lot of oversight required. While fuel cards help you manage your spend, the best fleet card programs go beyond just fuel.

Partnering with a fuel card company you’ll have the ability to expand your oversight and management beyond fuel. You’ll have access to features to help calculate the total cost of ownership. You’ll also gain understanding of where your expenses come from and how to maximize savings. WEX supports all areas of your business by bundling and offering additional products that help you keep your business moving. This article will cover what that means, what you and your team can now purchase with a fuel card, and how to make the most of your fuel card program.

Explore how fuel cards offer more than fuel with our “More than fuel” infographic

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Commercial vehicle management: Beyond fuel, what’s needed to keep operations running

As a fleet manager or small business owner, your responsibilities fall well beyond ensuring your vehicles are properly fueled for the day. As a result, you often need to oversee vehicle maintenance, tire purchases, where the team will stay for overnight trips, parking, and tolls. You name it, it’s on your plate. Some fuel cards offer services to help streamline these tasks. Beyond helping oversee commercial vehicle management, some fuel card companies provide smaller businesses with savings and benefits that are typically reserved for larger companies. Consequently, by partnering with a fuel card provider, you get a top notch fleet card program, access to savings programs that go beyond fuel, and services to keep your business running. This partnership can even provide you gain a competitive advantage.

Fixed costs and operating expenses for your commercial vehicle fleet

Commercial vehicle expenses are divided into two categories: fixed expenses and operating expenses. Fixed costs are established costs that stay the same no matter how you use your commercial vehicles. Operating costs, on the other hand, can fluctuate and will vary based on a range of factors.

According to research by the American Transportation Research Institute, maintenance and repair costs for a fleet are between 8% to 10% of a fleet’s annual operating expenses. Unquestionably, when you look at that figure, the importance of maximizing the lifespan of your fleet becomes evident. Performing regular maintenance helps keep these costs down. With a strong fuel card program, you have access to real-time reporting on which vehicles need maintenance when.

How a fuel card program helps you maximize savings on more than just fuel costs

When your vehicles are up for maintenance, you need to stock up on vehicle parts, you need to book a hotel last-minute, or you want the best deal on your team’s wireless service, it is important to be prepared and maximize your savings. The WEX fuel card savings program has combined pre-negotiated savings and an easy-to-use e-commerce experience. As a result, the program provides convenience and efficiency. Plan beyond the fuel needs of your business and you will keep operating efficiently. For example, auto parts are a significant expense. Additionally, when a vehicle is off the road being serviced the productivity of your operations is impacted. Service delays are longer when your driver does not have a designated vehicle service provider or expense system to rely on. However, this entire process can be streamlined and made more cost-effective with a fuel card program that offers more than just fuel savings.

How fuel card programs give fleet managers and small business owners more purchasing power

For a small business, purchasing power is your greatest asset. Some fuel card providers offer a fleet management savings network along with a fuel card. With a card like that you have the benefit of a larger buying network to secure better pricing. Your business then has an advantage over competitors. You will experience reduced expenses on driver and equipment costs, travel, and overall spending.

Track your commercial vehicle services and spending in one place

When you partner with a fleet card provider that offers more than fuel, you gain access to a single platform. This platform tracks much of your commercial vehicle services and spending in one place. You have access to how much you’re saving on not only fuel but many other purchases you make through the savings network. This simplifies the administrative tracking process. It also allows you to make data-informed decisions for future growth. Joining this savings network provides greater transparency into your team’s spending patterns and helps you find more ways to save money.

Use a bundled savings program within your fuel card account to accumulate savings

The WEX savings program provides:

• Fuel Rebates: Earn valuable fuel rebates at participating locations.
• Tire Discounts: Competitive online tire pricing with installation at over 2,200 Bridgestone Retail Operations locations in the U.S.
• Auto Parts: Exclusive savings with AutoZone®. Quickly search over 750,000 parts from 900+ brands and receive national account pricing.
• Hotel Discounts: Book rooms at over 58,000 hotels across the U.S., with negotiated rates at over 18,000 locations.
• Wireless Discounts: Get access to amazing rate plans with industry-leading mobile hotspot data, more business benefits, and unlimited data with T-Mobile for Business.

There are a variety of resources available for small business owners managing commercial vehicles and operating expenses. WEX’s partnership with Bridgestone and AutoZone® increases savings for your business. For the times when a driver needs a hotel room, your business will have access to over 58,000 hotels through WEX’s savings network. In addition, your business will have access to discounted wireless rate plans with industry-leading mobile providers.

To learn more about WEX, a dynamic and nimble global organization, please visit our About WEX page.

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.

Apply for a fleet card today!

Resources:
American Transportation Research Institute
FleetOwner

Editorial note: This article was originally published on June 14, 2023, and has been updated for this publication.