GPS Tracking for Buy Here Pay Here Car Dealerships
21 Nov 2022If you own or operate a buy here, pay here car dealership, then you’re financing cars for many people who have low credit using the dealerships own funds. While this usually works great for both parties, because the buyers get to pay off a car with their low credit, and dealers get to run their business; however, this isn’t always the case.
As an owner of a buy here, pay here car dealership, you understand that your business has some risk. Some people may take out a loan on one of your cars and then be unable to pay it. Even worse, customers who can’t pay off a loan and are already in a tight spot may just take the vehicle and be off.
For this reason and many more, it’s important for all car dealerships, especially buy here, pay here, to consider GPS tracking solutions.
How Do GPS Trackers Work?
Active, real-time GPS trackers provide you the location of your vehicles from your phone or computer.
Therefore, if someone steals one of your vehicles or is late on a payment, you can see where they are. If they’ve stolen your vehicle, you can easily get it back by calling the police and reporting their location.
This is also useful for repossession. If someone defaults on their loan, oftentimes they can hide the vehicle and you won’t be able to find it. GPS trackers ensure this never happens.
Other Benefits of GPS Trackers
Besides protecting your assets from theft, there are other benefits to using GPS trackers.
GPS trackers can monitor driver behavior. Therefore, if someone paying off one of your vehicles gets into a car accident, you’ll have data that will be extremely valuable when identifying liability.
Insurance companies may also give insurance discounts to owners who use GPS trackers.
Geo fences are another useful tool, especially if you’re worried about theft. You can set up boundaries outside the city to let you know when a vehicle is leaving.
If you’re wondering if someone can just rip out the GPS tracker and steal your vehicle, the answer is yes. However, there are covert GPS trackers, like the PT8100, that are easy install and can be completely hidden so the drivers will never know they even exist.
GPS trackers are also useful for service retention. GPS trackers can send maintenance information directly to the dealers so that they don’t have to check in with customers.
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