Car consumers have lower credit scores than ever before making Buy Here Pay Here (BHPH) financing a much more viable and profitable alternative for customers with lower credit. It provides dealers with the opportunity to take on added risk without the dependency on outside financing sources and at the same time, build a profitable portfolio. Having reliable asset protection is the key to making these BHPH operations successful.
GPS vehicle tracking has played a key role in tracking vehicles and protecting investments. The starter interrupt features have also been used to remind consumers of nearing payments, and disable vehicles upon missed payment. This helps borrowers change their payment behavior, giving them the opportunity to rebuild their credit while lenders see an increase in their returns. A growing number of automotive finance companies in the U.S. have begun to use these GPS vehicle tracking devices, but those that have can attest to a real return on their investment.
Spireon’s leading Automotive GPS vehicle tracking solutions are highly reliable and backed by patented technology. The invaluable data gathered from the use of GPS vehicle tracking is gaining popularity even among rental car companies. Spireon recognizes the unique needs of the rental market and offers a comprehensive solution, RentalStar GPS. This platform will communicate directly with rental companies providing them with important data such as a vehicle's location, available inventory, and insight into which vehicles are most commonly rented.
We've developed an Automotive Collateral Management platform to specifically service the needs of the vehicle finance community. More than a GPS vehicle tracking solution, GoldStar GPS not only assist dealers in managing their risks and expand their loan portfolios, but also provides business intelligence for other added value services:
- Automatic service notifications can be sent out when the vehicle needs servicing
- Automation of new and used vehicle floor plan tracking for franchised car dealerships
Our industry defining GPS vehicle tracking solutions, world class infrastructure and premier customer service gives automotive dealers the reliability and asset protection they can count on. In addition, Spireon offers an Express GPS Installation Service backed by a nationwide network of certified, bonded and insured GPS installers. With Express services, automotive dealers can rest assure that their installs are done properly and remain focused on growing their subprime financing business. For more information about our GPS vehicle tracking installation service, click here.
For more information, select the platform that matches your needs:
- GoldStar GPS: The fully comprehensive & customizable BHPH solution. Visit website >
- RentalStar GPS: Advanced GPS tracking solution for comprehensive rental fleet management. Visit website >
Spireon Joins The A-List in M2M for its Automotive Finance Platform at CES 2014.