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Why Should Trucking Companies Use Fuel Cards for Diesel Purchase

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If your business operations are heavily dependent on trucks, there is a good chance that you have to deal with significant costs and hassles associated with fuel purchases. Managing fuel expenses is not an easy task, especially for businesses with a large fleet. Moreover, diesel fuel tends to be among the biggest expenses for a trucking company. It can negatively impact your bottom line if not managed properly. Getting a fuel or diesel card for trucks  would be among the easiest ways to streamline the fuel expense management process, as well as enjoy attractive features and discounts. Cashbacks and Discounts High fuel prices can be a huge issue for trucking companies as diesel is among their largest operating expenses. A major increase in the price of diesel would directly translate to higher expenses per mile, thereby impacting the profitability of your business. Hence, you should consider exploring ways to cut down on fuel expenses. One of the simplest yet effective ways to do so wou
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How to Start a Fleet Business?

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In the current commercial environment, where almost every business depends on commercial vehicles for deliveries, starting your fleet business can be exciting and lucrative. Starting a fleet business involves several aspects that boil down to ensuring excellent service to your customers and making a profit.  Listed are some tips to consider before starting a fleet business. Understand the market Understanding the market you’ll be operating in will help you identify opportunities for high market growth and fulfil customer needs. Begin by identifying your target market, the services you plan to offer and the fleet you would need. Also, dive into market research to understand what your target customers currently have and what they need. Different industries have different needs. For example, in a logistics company, large fleets will play a significant role in optimising the supply chain and transporting high-volume goods locally or regionally.  Create a business plan Your busine
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3 Tips to Boost Your Chances of Commercial Vehicle Loan Approval

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  Businesses often need commercial vehicles like trucks, vans, and buses to transport goods, make deliveries, and ferry passengers. Regardless of the exact reason you may need commercial automobiles for your business operations, it would be a smart move to apply for a commercial vehicle loan to finance this investment. After all, commercial vehicles can be quite expensive, and it would be a huge financial burden to acquire them simply with the working capital. There are many banks and NBFCs in India that offer commercial vehicle loans. You just need to go through a few simple steps to secure financing from such lenders.   Ensure you fulfil all eligibility conditions Your lender would have certain eligibility conditions, like minimum age, employment history or type, nationality, and more. You need to go through all the eligibility requirements and check whether you meet them or not. Ultimately, your priority should be to find a lender that is a good fit for you. Arrange all requi
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An Insight into Buying Pre-owned Commercial Trucks with a Loan

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If you have plans to add new trucks to your business fleet, your initial reflex is likely to be to start looking at the latest models. However, the new truck models can be extremely expensive and hence increasing number of business owners are opting for pre-owned vehicles. Pre-owned trucks are affordable, dependable and adapted to any activity. Moreover, there are many lenders who provide used commercial truck loans at affordable interest rates, making financing such automobiles easy and hassle-free.  Lower cost The biggest benefit of choosing to buy pre-owned commercial trucks is their lower costs. Brand new trucks can be pretty costly, and hence, buying them might be next to impossible for small businesses or independent contractors. Even if we use a loan to buy these new automobiles, paying high EMIs for it can hamper our cash flow. Hence, it is better to buy pre-owned trucks instead, which are significantly cheaper than new trucks. Trucks that are just a couple of years old can be
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Advantageous Features That Make Using Fuel Cards a Good Idea for a Business

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Any business that runs a vehicle fleet would know the importance of efficient fuel usage. With the rising fuel prices, the demand for efficiency has also gone up. Hence, today many fleet operators are choosing to apply for  fuel loans  or use fuel cards to better manage their fuel expenses.  Many advantageous features make using fuel cards a good idea, such as: Not having to pay with or handle cash : Rather than having to pay for fuel on their debit or credit cards, or even cash, your fleet drivers can simply use a fuel card to buy diesel. This relieves them from the hassle of carrying a good amount of cash for fuel refills, which can be risky for drivers frequenting the highways at night. A secondary benefit of fuel cards is that there is no way to spend them on anything other than fuel. While the cash allocated to each driver for fuel purchase may get misplaced by them or they can use it for a personal purchase, there is no such risk a
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Best Practices for Commercial Truck Loan Borrowers

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Starting a truck transportation business can be quite a profitable venture as there is a high demand for truckers in the market. After all, there is a constant need to move goods from one place to another, for which people need trucks. Truck owner-operators can work locally or even transport freight across state lines. However, to start such a business, you need to buy a fleet of trucks. The simplest way to finance such a huge investment is to avail a commercial vehicle loan. Many lenders today commercial truck loans interest rates  at affordable  .   However, to get the best possible value from these loans, you need to maintain a smart approach. Down payment as much as possible You should make the down payment for the truck loan as large as possible, based on the financial situation of your business. It will help procure a lower loan amount and subsequently, a lesser burden of overall interest payable. Choosing a shorter loan tenure  Going for a shorter tenure will help you save up on
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Fuel Credit Cards and Why Your Business May Need One?

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 Fuel credit cards can play a significant role in the management of fuel expenses. By streamlining payment processes, allowing drivers to go cashless and purchase fuel, diesel and lubricants at partner stations, avail discount points and providing detailed transcription reports, fuel credit cards meet the unique needs of fleet businesses looking to save on fuel costs. Let us take a detailed look at some of these benefits.    Protection against Fuel Fraud Traditional cash and card payment methods often leave businesses vulnerable to fraudulent activities during transactions. Fuel cards are digital services where fleet owners can assign individual fuel cards to drivers, set transaction limits, and keep tabs on fuel purchases and vehicle running costs. Additionally, since payments are PIN and OTP-protected, every transaction is monitored, providing business owners peace of mind against unauthorised transactions.   Cost Saving Fuel cards for businesses to save on fuel costs. T
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