When car dealers choose to venture into a leasing industry, they better be prepared for more profits — and more risks. If a customer defaults on their payments and disappears with a car, a dealership loses both money and the asset.
Luckily, telematics service providers offer software solutions that help mitigate those risks. Some of them, such as LeaseControl by Gurtam, are specifically tailored to car loan and vehicle leasing businesses. They assist in the event of non-payment or another risky scenario. How do they work? First, the solution quickly locates the asset. Second, it blocks the engine and prevents the vehicle from being driven away.
To locate and block leased cars, vehicle lease management software needs reliable GPS trackers. Which trackers are the optimal choice for the Buy Here Pay Here (BHPH) auto market? Let’s find out.
The main feature of a GPS tracking device for car loans is its ability to block the car’s engine. Car blockage remains the most effective way to protect an asset in the event of payment defaults or unauthorized use of a vehicle. With a Buy Here Pay Here GPS tracker installed, a car dealer can remotely stop a vehicle with the click of a button.
Also, we’d suggest taking other factors into consideration as well when selecting a GPS tracker for subprime auto business.
We’ve compiled a list of several GPS tracking devices that meet all these criteria and can be used in the subprime auto business niche. Please note that the list is not exhaustive. If you’re a telematics service provider and want to learn more, please contact your Partner Success Manager.
If you run an auto dealership and want to implement a vehicle control solution, please fill in a request form or send us an email at email@example.com.
The Teltonika FMB920 is a popular GPS tracker from the Lithuanian manufacturer. The device immobilizes a vehicle remotely, works with digital and analogue-to-digital conversion (ADC) sensors, and supports GPS and location-based services (LBS). Its simplicity saves users from unnecessary functionalities unrelated to vehicle lease management software. An affordable price makes the device widely adopted among auto dealerships.
This is another affordable Buy Here Pay Here tracking device. Its functionality has all the necessary features including remote car blockage through GPRS and SMS and LBS support. Like any model with built-in LBS, the Concox GV20 assists in locating leased cars in areas where GPS or other standard services may be unavailable. It detects signals from the nearest cell tower and transmits them to a vehicle location tracking platform.
The AK7S model from ATrack is a popular option in a higher price segment. Similar to the other GPS trackers from the list, it utilizes both GPS and LBS positioning to accurately locate assets, enables remote engine cut-off, and features an integrated blackbox for data storage.
If your business operates in the United States or Canada, or if you work with auto dealerships in these regions, you need a GPS tracker model specifically designed for the area. It guarantees compliance with regional regulations and compatibility with the local networks.
Fortunately, most manufacturers offer specialized models tailored for this region. The Trace5 NA device from Ruptela is a popular example among them. It’s reliable and simple, which makes it a favored choice in the thriving US Buy Here Pay Here market.
Please note that this model only works in the USA and Canada.
Of course, that’s not an exhaustive list of the devices that can work in the vehicle leasing niche. The Buy Here Pay Here GPS tracking device market is large, and there are many more models available. You can find the right one for your specific needs if you pay close attention to the features we’ve outlined.
If you require assistance or consultation, don’t hesitate to contact your Partner Success Manager or send us a message at firstname.lastname@example.org. We are always happy to help you improve your business.