Volkswagen Group Leasing, the leasing arm of Volkswagen Financial Services (UK) Ltd, is the first UK contract hire company to offer the recently launched Fuel+ Card.
Working with The Miles Consultancy, a mileage audit and fuel expense management specialist, Volkswagen Group Leasing’s Fuel+ Card is accepted at 99% of the UK’s forecourts, has no transaction fees and includes an integrated mileage capture and audit system that together, it claims, could reduce fleet fuel costs by 25%.
The Volkswagen Group Leasing Fuel+ Card is backed by the VISA global network, meaning it provides coverage across Europe as well as the UK. Operating on the VISA acceptance network means the Fuel+ Card can be restricted to a specific branded fuel retailer, helping to control litreage costs. It can also be used as a full expense card, allowing drivers to use it for other business expenses as well as fuel. Just like a credit card it also includes theft and loss protection.
Martin Ballard, corporate solutions director at Volkswagen Financial Services (UK), commented: “This new Fuel+ Card, complete with the dedicated mileage capture and audit system enables fleet managers to record and audit drivers’ mileage and fuel usage. It can be used by grey fleet drivers, commercial and company vehicle drivers and cash allowance takers, providing an accurate picture of the company’s fuel costs and CO2 emissions. This information is then used for tax returns submitted to HMRC, and will drive down fuel costs in a customer specific way.”
Paul Jackson, managing director at The Miles Consultancy, said: “We have found that businesses running a fleet pay out 25% more in fuel and mileage expenses than they need to. This is because most returns are calculated on flat rate fuel expenses based on HMRC’s Advisory Fuel Rates for company cars. Looking at Volkswagen Group Leasing’s average fleet customer, we estimate that by monitoring a driver’s mileage and fuel consumption and submitting accurate tax returns, these businesses can save hundreds of pounds.”