In the “buy here, pay here” auto market, GPS tracking is becoming essential to keep up with the competition. Given the current economic situation, buy-here-pay-here is an extremely popular option for consumers. Auto dealerships are finding that to keep up their business, this is an option they need to offer. However, financing a car opens a whole new set of problems that the bank used handle. What do you do when a customer stops making car payments and a vehicle disappears? The dealer is out of a lot of money with a small likelihood of getting it back. This is where GPS tracking comes in.
How GPS Tracking Works
GPS tracking works by connecting devices with satellites and computers to show the location of the device at any time. A tracking device (such as the Smart Tracker Elite) can be attached to virtually anything, including a car, and then satellites use latitude and longitude to determine the precise location of the device. That location information is passed on to a software system that alerts the user to what they want to know. It can tell the owner where the device has been, where it is at the moment, how fast it’s moving, and additional related information. Some of these devices are also designed to perform other functions in addition to tracking, such as allowing the user to disable the vehicle that is being tracked with a device.
The possible benefits for the auto dealer, especially a dealer offering buy-here-pay-here, are incredible. The dealer can attach a car tracking device to any vehicle in the lot. A business owner does not have to continually track all the vehicles; the device can be activated only as needed. Repossession companies often offer discounted rates to dealers with these GPS systems because it makes finding a vehicle so much easier.
Using GPS can aid dealers in more than one way. Getting customers who make payments on time is a top choice for an auto dealer, and having a tracking system can be an extra incentive that causes buyers to think twice before attempting to hide a vehicle.
Article Written by Greg Bartlett