How Much do Vehicle Tracking Systems Cost?
Vehicle Tracking Costs
How much it costs to install and set up a vehicle tracking system will depend on whether the system is for a company fleet or a single car belonging to an individual. What significantly influences the costs is the level of tracking you require, the type of device you opt for and what level of reporting is required. Thankfully, given all these variables, there are car tracking systems available to suit every budget and tracking level specification.
Installing a Single Device
To purchase an individual tracking device typically costs a couple of hundred pounds, and then it is around a further one hundred pounds to install the tracker. On top of this there are likely to be subscription charges to the tracking company of around one to two hundred pounds a year.
If your primary concern is budget, then it is worth opting for a model which does not generate any data, but is only used for the purpose of recovery if your car is stolen. Of course, installing a tracker will also save you money as it will generally allow you to a receive a reduction in your insurance premiums which can be off set against the cost of installation.
Tracking Devices for a Company Fleet
Companies can opt for one of two types of trackers; active or passive. Active trackers work on the principle that all information is sent back to the base station on a continual basis, whereas with passive trackers this information is downloaded when the vehicle returns to base. For this reason, active trackers tend to be more costly.
Companies can then choose to either purchase or lease their tracking devices. Purchasing the trackers will cost slightly less than in the case of an individual due to bulk discounts, however it is worth remembering that maintenance costs and upgrade will be the responsibility of your company. Subscription rates for the software are usually around thirty pence per vehicle per day depending on the complexity of the reports your firm requires.
Leasing Trackers for Companies
Leasing is a popular way for companies to invest in trackers. Leases are usually around three to five years in length, with lower monthly rates for the five year option. For a basic active GPS tracker costs typically amount to around fifty pence per vehicle per day.
However, if your company wants the system to be able to provide more sophisticated reports which incorporate driving style, or the latest technology such as automatic vehicle immobilisation, this will also significantly increase the cost of your tracking system.
If your firm opts for a lease arrangement, then the costs of upgrades and maintenance will normally be the responsibility of the leasing company. Also, the business can offset the full charge for leasing a vehicle tracker against tax in the year that is incurred, unlike the depreciation costs on a purchased tracker.
Savings From Trackers
When installing a tracking system, it's important to look at the savings such a system will generate for your business. On average, firms that install trackers can cut their fuel bills by around twenty five to thirty five percent through more efficient route planning and the monitoring of driver behaviour. Also, as with individuals who install trackers, companies will generally be eligible for a discount on their motor insurance policy.
Furthermore, trackers can prevent companies from being hit by speeding fines, or unexpected tax bills relating to employees benefits in kind. When all these savings are amalgamated many businesses find that their tracking systems pay for themselves in a matter of months.
RFID Tracking Systems
So far the systems that have been considered have related only to GPS trackers. However, there is another range of tracking systems on the market known as RFID trackers. These use radio frequency technology to track vehicles to a much more accurate location than standard GPS, and can also be used to track environmental conditions within trucks. For this reason, they are very popular with businesses who deal in the supply of food or chemicals.
Because RFID systems are sold as bespoke systems rather than off the shelf packages, companies will need to contact a supplier to get a personalised quote. However, most systems of this nature will cost several thousand pounds.