Choosing the Best Fuel Card for Your Trucking Company
When looking at the operating costs trucking companies must cover every year, on average, fuel is the biggest cost. Fuel can consume as much as 39% of a company’s operating costs each year, averaging out to $70,000 per year per truck. Because of the enormous cost, many trucking companies turn to different fuel cards to help them save money at the pump and get the most bang for their buck.
Carriers must be vigilant when choosing a fuel program and need to make sure they are getting cards for their company to ensure long term savings. There are specific types of programs that can benefit you more than others. So, let’s go over the things that are important to talk about when finding your fuel card.
Do They Offer Discounts at Multiple Locations?
When considering a new fuel program, you will find different discounts at a variety of stations around the country. It is important to clarify whether the discount is off the credit price, or the cash price. The cash price at most fuel stations is between 5-10 cents less per gallon than the credit price, sometimes even more. Make sure the program will provide discounts at a wide variety of fueling stations. Every company has a preferred fuel station. But if you have a wide network of discounts at your disposal, options are never a bad thing and your preferred station may not be around.
OTR Capital’s fuel program basis all discounts off the cash price of the gallon, with flat discounts nationwide. OTR’s fuel discounts provide carriers with $0.19 off the cash price at all TA/Petro locations, and $0.10 off the cash price at all Pilot/Flying J, Speedway, Wilco/Hess, and Quick Fuel locations. Not only does the OTR Capital fuel card offer users with the best discounts possible, they provide you with a consistent, nationwide network of stations so you are never out of range.
Do They Offer Additional Benefits?
If you’ve made sure that you are getting multiple discounts from your fuel program, then check to make sure there are other incentives. The OTR Capital fuel program provides carriers with other benefits to help you run a more efficient business. For example, 24/7 access to transaction reports will show the name and location of the stations you fueled at, how much was spent, and how many gallons were purchased. Having consistent access to this data allows for easier IFTA reporting, expense tracking, and profit calculation. For companies with multiple drivers, individual spending limits, daily or weekly, allow you to easily manage your drivers an ensure your company’s money is being spent correctly.
OTR Capital fuel card also provides a fast and easy advance process. It allows for instant funding directly into to the fuel card account, skipping the process of emailing slow and expensive express codes. OTR Capital fuel advances allow for instant payment at the station, saving the driver time and you money!
OTR Capital’s partnership with TA Petro gives users tire and maintenance discounts nationwide. The tire discount program provides discounts on name brand tires and even a discount on the tire removal services as well! The primary card also acts as a debit card, and can be used anywhere Mastercard is accepted, allowing the owner to purchase meals, book hotels, pay bills, and more.
The OTR Capital fuel card gives factoring clients access to numerous features and benefits that can go a long way for your business. OTR wants to help you save money and help track and limit your driver’s spending! Their card program was designed to provide its factoring clients with exclusive access to discount on the things that matter most. With an integrated service and in-house fuel team OTR Capital can help you run a more profitable and successful business. Freight factoring is their job, but success of your business is OTR’s mission. For more information, give us a call on the fuel desk at extension 2288.