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Tracking: Financing your car tracking devices
Tracking devices for cars provide the benefits of streamlined fleet management, better security, improved customer service and more efficient operations. These are tangible benefits which deliver an excellent return on your investment.
Car tracking system cost components
So what is the price of car tracking? Well it’s lower than you may think, especially because there are so many options when it comes to vehicle tracking costs. These can be divided into two areas:
- Purchase costs: When you buy a car tracking device you will to pay upfront for the equipment and installation.
- Operating costs: The daily or monthly tariffs that are applied by the provider for the real time data connection and satellite use. There is a lot of flexibility here, with tracking devices suppliers offering different rates for Pay As You Go, short-term contract, long lease or buy outright customers. As a rule, you will pay less (just a few pence a day) if you have already bought your car tracking device, or if you take out a long term lease. A Pay As You Go contract can work out at a few pounds per day, so is most suited to short, specific jobs.
A passive vehicle tracking system (one which stores data for downloading and doesn’t transmit in real time) is a cheaper option and doesn’t always require professional installation. If only simple driving data is required, these tracking devices can cost as little as £100.
An active system which relays live data will be more expensive, largely due to the need for operating ‘subscription’ costs. It is possible to purchase the system outright and have the car trackers fitted for only a few hundred pounds though (with the additional monthly contract fees on top.)
In each case the functionality required and complexity of the car tracking device will be reflected in the price.
Can you rent your car tracking device?
Because of the running costs associated with a live tracking system, it is more common for businesses to take out a long-term leasing contract, as this usually offers the best value for money and flexibility for upgrading functionality in the future. The usual means of payment is on a per-vehicle per-day basis with a 12- to 36-month contract. Always enquire about special offers when taking out the rental contract, as many suppliers will offer free installation and cheaper introductory prices for the first few months.
The decision over whether to lease a vehicle tracking device or purchase outright will always come down to your fleet size and what exactly you want the car tracker for. It is generally more cost-effective to buy a passive system and to lease an active one