There are five Buy Here Pay Here advantages to using a GPS tracking device in your business. Unfortunately, there are two important realities that affect today’s Buy Here-Pay Here vehicle dealers: the ability of customers to repay their loan or terminating vehicle usage.
First, stressed financial conditions have created an entire market of potential customers who have less than perfect credit scores. It’s not easy to predict who will manage their car payments or default.
Terminating Vehicle Use
Second, the Buy Here/Pay Here dealer is responsible for performing many of these functions banks or finance firms used to perform on customers who default on their payments. The vehicle still remains the dealer’s property. Consumers who fail to pay phone bills and utility bills have their services canceled. This is a commonly known fact. Most consumers are required to pay these bills promptly. If a buyer is not paying their bill on time, it’s important to terminate the vehicle’s use.
Benefits from GPS Tracking
In the past the enforcement frontline was limited to the collection of vehicle keys or long-term and expensive efforts to locate and take possession of a vehicle that was being kept hidden. GPS (Global Positioning System Satellite Technology) offers an expanded range of options for the Buy Here/Pay Here dealer.
1. Satellite Tracking: Real-Time, in Real Time
You can track your vehicles remotely by installing a GPS tracking plugin. It’s exact address is displayed on a Google map. The satellite photo can also be accessed via the internet. The map also shows the exact streetblock, speed and direction the car traveled if it is in motion. Many GPS trackers feature a Stop Track function that keeps track of all stops made by the vehicle for more then 30 minutes. This allows for the creation of a track record of the vehicle’s daily use and destinations. This is helpful when attempting to recover the vehicle.
2. Expedited Vehicle Recovery
Faster repossession. Same-day repossession is possible now that the tedious search and tow process has been reduced to just driving to a known address to retrieve the vehicle previously located by the GPS tracker. Many repo outfits offer discounts to Buy here Pay here dealers who use GPS tracking. It makes their job easier and saves them money on towing.
3. Starter Disable Feature
When it comes to playing hardball, the best feature is Starter Desable. If a customer isn’t responding to the electronic reminder function, or fails to comply with other attempts to collect the vehicle, the GPS tracking site website can disable the starter. This puts the vehicle in a stall or at its next stop, if it’s moving. The internet map shows the exact location of the vehicle so that you can immediately recover it.