You know title loan lending means taking on high amounts of risk. If your borrower defaults, you’re now spending resources trying to recover your asset. Recovered and unrecoverable assets hurt your bottom line as well as your time. That’s why title loan lenders need a simple, fast, affordable, and reliable way to track their assets. Say hello to battery-powered GPS tracking.
Battery-powered GPS trackers can help title loan lenders:
At the end of the day, implementing a battery-powered GPS tracker system can help you reduce risk, extend more loans and drive your profitability. Explore how PassTime can help you transform your title loan operations for the better.
Battery-powered GPS trackers are the most affordable way to track your title-loan assets. Here’s why:
Not only are battery-powered GPS trackers affordable and quick and easy to install, they help you reduce costs and ultimately improve your cash flow. That’s why other automotive lenders and dealers love it. When every dollar counts, protecting your assets with the right GPS solution can make a measurable difference.
If you choose the right battery-powered GPS tracking device, it could be in the field for up to five years. Because they are portable and not wired into the vehicle or asset, they can quickly be removed and reused at the end of a loan. For example, if you used the same device on each 30 day loan, you could protect more than 60 different vehicles or assets over a five year period.
Here's what you could earn over those five years if you had 100 trackers in the field:
Or at the high end:
While a battery-powered GPS tracker cannot guarantee you’ll receive every payment, the longevity of the right GPS system helps you maximize the time your device can be in the field so you can protect more assets and earn more profits while continuing to extend more title loans.
A battery-powered GPS tracker gives you ultimate speed and flexibility. Anyone can install the tracker practically anywhere on any asset in less than a minute. Just how easy and fast is it? As easy as one-two-three-four.
Title loan borrowers won’t have to wait around while the installation occurs, you won't need to invest in specialized training or certification for your team, and you’ll gain the security you need to protect your assets.
Title loan lenders need to streamline operations, not complicate them. Being able to manage all your battery-powered, GPS-tracked assets in one platform helps you work more efficiently. With a web application and companion mobile apps, you can set up customer accounts, view location history and manage device power modes quickly and easily from the office or mobile device.
Without a GPS tracker, recovering your assets could mean days or weeks of investigations—if you recover the asset at all. With a battery-powered GPS tracker, you’ll have location history and options to track in real-time, giving you the insight you need to aid in a speedy recovery. Pro tip: Look for a battery-powered GPS tracker with multiple location technologies, which allows you to locate assets even when GPS alone cannot like inside parking garages, urban areas or warehouses.
PassTime led the GPS industry with the invention of Encore, a completely battery-powered GPS product. We combined our decades of GPS-tracking experience with the flexibility and reliability of a lithium-ion battery to help our customers track practically anything, anywhere, anytime. And we continue to innovate.
With Encore, you get the affordability you need and the long-term device reliability you can trust, at the speed your business demands. Encore fits in the palm of your hand and weighs less than two ounces, which makes its portable and stealthy design perfect for title loan lenders. Best of all, Encore is battery-powered and can be installed in seconds by just about anyone, without the need to cut any wires or hire an installer.
You can manage all your Encore devices from a single platform, OASIS. With the ability to geofence your assets, you’ll know if someone attempts to flee across state lines with an asset. Our multiple power modes give you ultimate control over battery life and recovery thanks to our optimized power profile.
With PassTime’s exceptional service and proven track record, you can rest easy knowing your assets are secure.
Here’s how Encore has helped our customers improve their operations and profitability.
Waylon M., San Antonio, Texas:
Ross I., Westport, Massachusetts
Chris C., Chatsworth, California
It’s time to enhance your security, reduce default rates, improve your recovery rates and maximize your profitability. With PassTime, you get the tools to do all that—and more—with confidence and ease.
How much is Encore compared to hard-wired GPS tracking devices? While device hardware is comparable in price, Encore saves you money by not requiring a certified installer. When factoring in installation cost, Encore can save you up to 40%-80%.
How long does PassTime’s Encore battery-powered GPS tracker last?
Up to five years if you extend the battery life in endurance mode. Active, Trip and Recovery modes have a higher impact on battery life.
Do I need to have special training or hire a professional to install Encore?
No. No wires means no tools or training are required. Just about anyone can install the tracker in less than a minute.
How big is the Encore device?
It’s about the size of a deck of cards and weighs about two ounces. It can fit in the palm of your hand.
Where can I place a battery-powered tracker in a vehicle?
Install it practically anywhere. For title loan lenders, installing the tracker in a secure and discreet location is best, such as:
How can I track an asset in places where GPS fails?
Encore includes Beyond GPS™ technology which automatically uses cellular location technology to provide location information if a GPS signal is weak—like inside parking structures, tunnels or warehouses.
How often does the GPS tracker update the location?
Encore’s Power Modes determine the frequency of updates:
