There is a wide variation in the specification of fleet management systems available and the features you opt for will invariably influence costs.
Basic trackers, those that are cheaper, simply monitor vehicle speed, location and direction, whereas more sophisticated systems can include driver rather than vehicle ID, geofencing, automatic alerts if a vehicle is moved at unauthorized times and the ability to monitor driver behavior.
On This Page
- How Much Does Vehicle Tracking Cost?
- Buying Vs Renting Vehicle Tracking
- Tiered Fleet Management Costs
- Fleet Management Cost Savings
- Fleet Management Fuel Savings
- Return on Investment
- Which Fleet Management System is Right for You?
- Top Fleet Management Suppliers
How Much Does Fleet Tracking Cost?
|Tier||Buying Cost||Leasing Cost||Installation Cost|
|Entry Level||Around $100||From $17.95/month||N/A|
|Mid-Range||$300-$600||From $20-$25/month||Around $100|
|Advanced||N/A||From $30-$65/month||Around $100+|
Fleet management systems vary a lot in terms of complexity, and therefore in price. Basic vehicle tracking devices are understandably significantly cheaper than systems with more advanced features to offer.
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You can purchase a basic vehicle tracking device for just a $100 one-off fee. A device like this has very few features. It will operate on a passive system, which means data is stored rather than transmitted in real-time, and can only be retrieved once the vehicle has finished its journey.
It is more cost-effective to purchase a basic tracking device than it is to rent one.
An active tracking device (which relays vehicle positioning and performance information in real time) can be purchased outright for between $300 and $600, plus an installation cost of approximately $100.
However, most companies prefer to lease active tracking for the reasons already mentioned. Rental prices for active trackers start at around $20 per month.
A company with more than one or two vehicles to track should consider a web-based fleet management system.
Different providers price these systems in different ways but typically you can expect to pay a small installation fee and then a monthly subscription fee. Prices start from around $30 per month, per vehicle and increase as you add more features to a high end of $65 per month, per vehicle.
Companies with a large number of different vehicles may want to work with a provider to come up with a solution tailored to their specific needs.
It is impossible to put an exact price on this without knowing the specific requirements, but customizing a solution to fit your business will save you big money in the long-run.
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Buying Vs Renting Vehicle Tracking Systems
It is possible to purchase a fleet management system, but they are more often supplied on a lease.
The main reasons companies prefer to lease their trackers include:
- Allowing for upgrades as tracking technology improves
- Keeping maintenance the responsibility of the leasing company
- Because it can be a more tax efficient way of accessing assets
Even if a firm opts to purchase their trackers, there will still be a monthly cost attached to using the software, so for the majority of businesses, a lease will seem more cost effective.
Leases can vary in length, with typical contracts lasting one to three years and the latter having lower monthly costs. Other factors affecting the cost include the number of vehicles in the fleet and the level of support you require.
Cost Savings from Vehicle Tracking Software
Any investment your business makes in a fleet management system should always pay for itself through reduced fuel costs, improved driver behavior, reduced speeding fines and reductions in unauthorized vehicle use.
This is in addition to improved customer service and the ability to solve any disputes involving your vehicles quickly and easily.
You should ask potential suppliers to provide you with examples of typical customer ROI which should be backed up by specific examples.
The typical industry benchmarks are as follows:
- Increase productivity by around 20% per vehicle.
- Decrease fuel costs by 25% - 35%.
- Most customers achieve payback within 3 - 6 months.
- Expect to see a return of between $2 and $5 a month for each dollar spent on fleet management services.
Fuel Cost Savings
The chart below shows the savings that can be achieved on small, medium and large fleets through reduced fuel costs alone. This does not factor in other savings, such as increased productivity and reduced emergency repair costs.
The savings on the chart above show an average based on real customer case studies.
Return on Investment
The return on investment (ROI) of a fleet management system will be different for every company, depending on your typical vehicle related costs and the fleet management system you choose.
The chart below shows an example ROI over 3 years of a mid-sized fleet (40 vehicles) with an advanced ($50 per vehicle per month) fleet management solution. The savings figures include direct savings and increases in revenue and productivity as a direct result of installing fleet management software. In this example the total ROI over 3 years is $708,000.
Which Fleet Management System is Right for You?
There are many different companies offering vehicle tracking solutions in the United States. Each of these companies has a wide range of products and services to choose from. Fleet managers often find the amount of choice overwhelming and struggle to know which solution is best for their business.
It is important to shop around when looking for fleet management software. Compare multiple companies, get bespoke quotes and take advantage of free trial periods offered by some suppliers.
Compare prices from top fleet management providers with Expert Market
Top Fleet Management Providers
Find our picks of the best providers and price plans, and where you can buy tracking devices below:
Qualcomm has been identified by Berg Insight as the largest provider of fleet management systems in the US and works with many different types of industry. Their trackers interact with a web based software system, meaning you can access the fleet management system from any computer with internet connection and you do not need a sophisticated IT system to get it up and running.
Qualcomm has been operating in the fleet management industry for 25 years and has experience of working with firms of all different sizes.
The prices for the most basic Qualcomm fleet management systems start from just under $20 per month, but can reach hundreds of dollars per month for the largest most sophisticated systems.
The Fleetmatics fleet management system is used by over 30,000 companies across the USA, many of whom have achieved savings in fuel costs of over $10,000 a year by installing this technology. Read the full review for case studies from customers who have saved thousands of dollars with Fleetmatics.
To help customers decide if Fleetmatics is right for their business, the company offers new customers the opportunity of a free demonstration which will highlight the potential savings their system can offer your firm.
Prices for the Fleetmatics system vary depending on the size of your fleet.
Chevin Fleet Solution
Chevin offer two fleet management systems; the web based FleetWave and the Windows based RoadBASE. Their products are used by organizations such as AMTRAK, the Smithsonian Institute and the New York State Police.
To get an exact quote for your firm, Chevin require a short discussion to allow them to assess your business needs, but prices can start from under a $1 per day for each vehicle in the fleet.
TomTom provide a fleet management system known as WORKsmart which has been taken up by 19,000 businesses in the US. Research by TomTom shows that their customers, on average, achieve a return on their investment within 6-9 months.
To get a detailed quote from the company you need to complete the form above. There are a large number of variables which will impact on the price, though the company do tend to work with medium to large fleets for which prices will start from over $100 a month.