Getting approved for fleet finance is just the start of your budgeting journey. Once those vehicles hit the road, there’s going to be plenty of ongoing expenses that you need to account for.

Whether you’re running 3 courier vans or a national freight company, budgeting beyond loan repayments is the key to protecting your bottom line. At Loans Unlimited, we help WA businesses factor in insurance, maintenance and many other costs.

To learn more from our team or apply for finance, get in touch today.

1. Fuel Costs

This seems pretty obvious, but you’d be surprised how many people underestimate long term fuel budgets – especially when drivers are racking up the kilometres.

Take a look at:

• Use averages: Start by tracking usage per vehicle and multiply that across your team.

• Plans for price shifts: Fuel prices are volatile, so always add a buffer.

• Fuel cards: These don’t just offer discounts, they also make expense tracking easier.

2. Insurance Premiums

You’re going to have to cover every vehicle your business owns, so a bigger fleet will mean a bigger bill.

To get the best deal:

• Shop around annually and compare policies

• Consider excesses, downtime cover and whether you’ll need replacement vehicles

As a part of your loan application, we can also help you get your insurance documentation together.

3. Maintenance and Repairs

Even a brand-new prime mover will need routine servicing. Avoiding maintenance costs might save money short term, but it can cause costly breakdowns and downtime later on.

We recommend:

• Schedule servicing in advance to avoid it clashing with busy periods

• Create a per-vehicle budget in line with manufacturer recommendations

• Plan for wear and tear on high-use vehicles

4. Registration and Licensing

Just as every vehicle needs to be insured, each needs to be registered and licensed in WA. To make sure you keep up with yearly fees:

• Keep record of renewal dates

• Set aside a monthly buffer for these costs, rather than paying them in one hit

• If you’re operating nationally, consider interstate requirements as well

5. Telematics and Fleet Management Systems

Fleet technology is becoming a handy tool for businesses to track vehicles, improve routing and monitor driver behaviour. GPS tracking systems, for example, improve fuel efficiency, reduce idling time and can help with compliance and maintenance scheduling.

Good technology will require upfront or monthly costs, although if implemented properly, it often pays for itself. Nonetheless, it still needs to be budgeted for.

6. Staff and Admin Time

You won’t be able to manage a big fleet on your own. As you build out your management staff, consider:

• Do you want to hire a dedicated fleet manager or assign admin hours to drivers?

• Who’s responsible for servicing, rego reminders and fuel cards?

Admin and staff time should be included in your budgeting, even if it’s not charged to the client.

7. Depreciation and End-of-Life Costs

Remember to think long term – each vehicle will eventually need to be replaced. To make sure you get the most out of each purchase:

• Track each truck’s age and condition

• Know long in advance whether you’ll resell, trade in or dispose

• Account for residual value and wear penalties (if leasing)

These costs catch so many WA operators out, so don’t forget them when you’re crunching the numbers.

A Quick Example

Let’s say you want to acquire a fleet of 5 small trucks. You’ve secured the loan, but what will the monthly costs actually look like when the vehicles hit the road?

Here’s a breakdown for one truck:

This is just a guide. You actual costs will vary depending on your business set up and the fleet’s size, makeup and usage.

Let Loans Unlimited Find a Truck Loan That Suits Your Business

Running an efficient fleet isn’t just about securing a good loan, it’s about planning for every cost and avoiding nasty surprises.

At Loans Unlimited, we’ll handle all of the financials so you can spend more time budgeting for your business. If you’d like, our crew can also run you through operating costs, insurance and rego!

To start your application and get pre-approved for truck finance today, click ‘Apply Now’ at the top of your screen.