GPS tracking technology has increased in popularity and as a result GPS trackers have even started being employed by used car dealers. In the world of used car sales, there are many financial pitfalls to keep in mind. Zooming around in the back of the dealership owner’s head are ideas about how to reduce business related costs. That is why some used car dealership owners have come to realize the benefit of using GPS trackers for cars they finance.
Dealers know that selling a used car to someone who has terrible credentials is always a risk and it is for this reason that so many dealerships are turning to GPS trackers technology to sell vehicles to buyers that appear to be a liability. If there happens to be a buyer that defaults on payment, GPS trackers are there to help the dealers out. The mapping and navigation features of GPS trackers are what interests the used dealership owners the most.
With the mapping features, dealers always know where their cars are at. The GPS tracking devices are only placed in the used cars that are being financed through their dealership. This makes it possible for them to recover the car from the buyer if they do not receive a monthly car payment. It’s easy to understand how this increases dealership security and enables them to sell cars to clients with less than perfect or no credit. To maintain legitimacy, the clients are required to sign an agreement upon purchase which gives the dealership approval to complete GPS tracker installation. The contract usually includes statements informing the client that they are not allowed to removed, deactivate or damage the GPS tracker device. It’s no surprise that many clients agree to this, because it means they can be financed.
As a bonus, the GPS trackers can even be scheduled to send alerts to the client in order to warn them that their payment is late, thus; giving them some time to remedy this prior to the car being repossessed. The dealership profits can remain steady and the business secure, with GPS trackers. That’s fantastic for them, because no one wants to lose out on profits due to high-risk customers.