It’s tough for smaller trucking companies, especially owner/operator firms, to stay ahead of the curve these days. Although often overlooked, tire discount programs can help keep some much-needed cash in your pocket, allow you to be more competitive, and connect you with a variety of other support services that will help your business thrive. You’ll learn how they work, what they include, and how to get started if you think a tire discount program is the right move for your trucking company on this page.
Trucking Operational Costs Are on the Rise
Operational costs are up more than 20 percent year on year, according to ATRI. Rates for everything from fuel to truck and trailer payments are climbing, eating into thin profit margins that typically cap out around six percent, as Boss reports. While tires aren’t at the top of the list of expenses, tire-related expenses work out to an average of $1.81 per hour, ATRI notes. That’s around three percent of vehicle-based costs, which can quickly add up to thousands of dollars annually. This is where tire discount programs for trucking companies come in.
What Are Tire Discount Programs for Trucking Companies?
While large fleets can typically qualify for volume discounts on tires, small fleets and owner/operators must usually shoulder the entire cost burden. Tire discount programs help make tires and tire-related services more affordable for smaller trucking firms. While some are standalone programs, many are bundled with other services, such as fuel discount cards and freight factoring.
Key Benefits of Participating in Tire Discount Programs
Every tire discount program works a little differently, though the core benefits highlighted below tend to be universal.
Direct Savings on Tire Purchases
Most tire discount programs aim to offer a variety of tires to serve diverse needs and budgets, so discounts will vary based on your program and selections. However, discounts typically range from 50 to 65 percent off standard pricing.
You don’t need to buy for a fleet or in bulk to qualify for your discount. Whether you’re purchasing just one tire or 20, you’ll save.
Extended Tire Lifespan and Maintenance Benefits
In addition to checking your tires before each trip and maintaining proper air pressure, keeping up with regular tire maintenance is essential. Most experts agree tires should be rotated every 8,000 kilometres, with alignment adjustments every 100,000 kilometres or as needed. Tire discount programs typically include discounts on these types of services to help ensure your tires last as long as possible.
Tire Repair Services
Minor issues can often be detected during your pre-trip checks and regular maintenance visits. Repairs tend to be quick and inexpensive during this stage regardless, though your tire discount program may reduce the costs even further.
Fluctuating costs can be a serious headache, especially when you’re far from home and are facing an unexpected expense. Tire discount programs can make costs more predictable, so it’s easier to budget, and you can travel confidently.
Some of the better tire discount programs also include roadside assistance, so you can get help 24/7, even when you’re on the road.
How Tire Discount Programs Work
There are many different tire discount programs to choose from, each with a unique signup process. We’ll go over what a typical experience entails below.
Step 1: Connect with a Program
Although many discount tire programs will allow you to sign up directly with them, you may receive a discount or other perks by signing up through a business you already partner with, such as your factoring company.
Step 2: Apply
Be prepared to provide a few details about the types of tires you usually purchase and your favourite brands. The company will use this information to ensure they can meet your needs and introduce you to alternatives that may also be a good fit.
Step 3: Review Your Offer
You’ll be onboarded and learn about the specific process your program leverages when you’re approved. Double-check your agreement and review any fees before moving forward.
Step 4: Enjoy Your Benefits
In some cases, tire discount programs have accounts set up at shops nationwide, so you simply show your card to receive your discount when you’re ready to purchase. Others are high-tech and provide an app that can be used to locate shops and order online.
Tire Discount Programs Keep Your Overall Trucking Costs Low
When you save through a tire discount program, you’ll likely see reduced overall costs, too.
Reduce Downtime with Quality Tires
High-quality, well-maintained tires have fewer issues, so you’ll have less downtime and can log more time behind the wheel.
Improve Fuel Efficiency
Up to 30 percent of a vehicle’s fuel efficiency is tied to tires, Energy.gov reports. Starting off with good ones and maintaining them may help you save at the pump.
Defective tires are the leading cause of truck-related accidents, Ontario lawyer Matt Lalande states. They’re responsible for around 30 percent of accidents. Taking good care of your tires can keep our roads safer.
You May Also Qualify for Additional Perks and Benefits
Tire discount programs are often quite comprehensive on their own. However, you may also qualify for additional benefits or discounts as part of your program. Commonly bundled services include:
- Freight factoring
- Fuel discount cards
- Fuel advances
- Load boards
- Tire pressure monitoring systems
- Electronic logging devices
Get Connected with a Factoring Company That Can Help
Freight factoring allows you to receive immediate payment for your load as soon as you can demonstrate it’s been delivered – no more waiting weeks or months for clients or getting tied down to specific brokers. When you partner with an experienced freight factoring company, you’ll also receive access to a variety of support services that can help you grow your business. To learn more or get started, request a complimentary quote.