As a vehicle dealership, late or missed payments can unfortunately be inevitable. This can put owners in a position where they have to locate a vehicle for repossession, or try and receive payment from the customer in a timely manner. Sometimes customers that aren’t too keen on paying up. With a GPS tracker in the vehicle the owner can have peace of mind knowing that they can retrieve the location of the car from a web browser or a smart phone.
How Auto Dealers Use GPS Trackers to Reduce Lost Assets
When faced with the issue of late payments, oftentimes the best approach to this is deterrence. If the owner has a way of locating a vehicle, monitoring the engine runtime, and even a way to cut power to the starter. The customer would be more motivated to keep accounts paid on time with the risk of losing access to their vehicle.
Ideally this is something that the customer would be informed of ahead of time. With the customer aware that there is a method in which the vehicle could be tracked, or rendered unable to start up if there is a late or missed payment. The odds of that payment going delinquent can drop significantly. For the price of the device and the GPS tracking subscription, you can have the peace of mind of monitoring your vehicles in real-time.
Case Study: The benefits of dealership tracking
A Buy Here, Pay Here dealership in North Carolina is having trouble with customers missing and defaulting on payments. The cost in both time and money associated with tracking down the vehicle for repossession, was beginning to take away from resources that could be put towards generating profits. The owner of the dealership began to insert GPS trackers into their vehicles with an option to cut power to the starter in the event of theft or defaulted payments. The owner informed his customers of this new addition, and laid out the ramifications for missed and late payments. With the consequence of losing access to their vehicle, the owner saw a marked increase in on-time payments.
Types of Tracking Available
There are a variety of options available to help prevent both theft, and be a deterrent against late payments. Including trackers that can be wired in to the vehicle’s power system, this would allow the device to be powered without the need for recharging a battery. It would also provide Engine Runtime reporting, and allow you to remotely deactivate the starter in a vehicle in the event that a retrieval of the vehicle is necessary.
From devices that can plug directly into the OBD port, as well as devices that are battery powered. A tracker reporting once or twice a day to track assets, to a tracker wired in to a vehicle and reporting its location every 30 seconds when moving, there are a wide variety of products available for each use case.
We sell high quality tracking hardware that is affordable and easy to use. The software included is straight forward, and takes the guess work out of vehicle tracking. We test our hardware in all kinds of environments so that when you buy from us, you can be sure you’re getting a quality product. Our support team is ready to answer any questions you have. With Logistimatics you can easily track from the web or with with your iOS or Android device.
Take a look at our Auto Dealers page for more details on the service.
You can contact us with any questions and we’ll be glad to advise.