Life is full of uncomfortable conversations. Maybe it’s that you don’t want to ask the boss for a well-deserved promotion. Maybe you don’t want to let on to the dentist that you haven’t been flossing every single day. Maybe you avoid telling your spouse that the chicken is dry. And that’s just it, we beat around the push, put off, and flat out dodge these conversations because they aren’t pleasant. The same is true of GPS device disclosure.
Not only should you always disclose the inclusion of GPS/starter-interrupt technology in writing before finalizing a deal, you should be sure to get the customer’s consent. Disclosure should include details about how the device will be used and a vehicle location privacy waiver.
You know what? Some customers will see it only as a negative. There are ways, however, to make the conversation more pleasant.
For starters, this isn’t just a leash for delinquents; there are customer benefits.
It’s a win-win
The more protected you feel, the more goodwill you can extend through vehicle selection and loan terms.
- Qualify for better vehicles
- Lower interest rates
- Higher loan-to-value ratios
- Longer term notes
Faster course correction in the event of a default
Disabled vehicles can be re-instated just as quickly upon remedy of the situation, which is better than several days of downtime without GPS/starter-interrupt technology.
Smart car features in any car
Mobile technology now allows us to offer exciting new benefits the customer can access through an app:
- Safety and security through vehicle location information around the clock
- Trip history data including date, time, and trip duration
- Smart alerts for speeding, geofence location, and battery condition
- Stolen vehicle recovery guidance, including vehicle location data and incident reporting instructions
- Insurance discounts from select providers, sometimes up to 15 percent on vehicles with GPS tracking devices
The more we allay consumer anxiety over safety (specifically, debunking the myth that a vehicle can be disabled while in operation with a starter-interrupt device) and privacy by being forthright in disclosure, if not the outright advocacy of using such a device, the better it is for all parties involved.
To learn more about how to make these tough conversations easier, check out the new GoldStar Connect consumer app.
Now, if you’re thinking of confessing to your spouse that the chicken is dry, you’re on your own.