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GPS vehicle tracking system help BHPH dealers reduce their risk.

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Three Ways to Improve Collections and Recovery

For many Buy Here Pay Here (BHPH) dealers, the threat of delinquency, default, and repossession are always on their minds. Despite recent news that consumer credit risk is at its lowest rate in years, and a report that says consumers almost universally pay their auto loans first (over the likes of their mortgages and credit cards), the danger still remains. As the number of consumers financing vehicles continues to grow, it’s important for dealers to make an effort to protect their assets. The following are three ways in which BHPH dealers can reduce their risk.

GPS Vehicle Tracking
With Spireon’s GPS vehicle tracking system, GoldStar GPS, dealers can unobtrusively track their inventory day or night, without disturbing the vehicle driver, or jeopardizing removal of the device. Should a borrower become delinquent on their payments, dealers can quickly locate their vehicles. Whether it’s tracking mileage, payments, or vehicle locations, GoldStar GPS has been engineered for supreme scalability.

Greater Administrative Control
Single-click commands and 24-hour reports make locating a vehicle quick and easy with Spireon’s GPS vehicle tracking system. Dealers can set up geographic boundaries, monitor movement and status, and enable/disable a vehicle’s starter. The alert configuration available on GoldStar GPS is also more flexible than ever before, with the ability to set alerts by group option, time of day, and validity period. All of this can be done using any laptop, tablet, or smartphone available.

Improve Borrower Access
With a GPS vehicle tracking system designed for online integration, dealers can ensure that they’re able to communicate easily with customers. Automated payment reminders can help borrowers stay on top of their finances, and encourages them to make their payments on time. Borrowers also gain easy access to their accounts, and loan and vehicle information.

Find out more about Spireon’s GoldStar GPS solution, click here.

David Meyer
Executive Vice President, Sales & Services Automotive Solutions

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