In today’s fast-paced and highly competitive automotive financing industry, protecting your assets is a top priority. Whether you’re a Buy Here Pay Here (BHPH) dealer, an auto finance company or a credit union, having the right tools to secure your vehicles and manage risks can significantly impact your bottom line. In terms of flexibility for different needs and budgets, one car dealership GPS tracking solution stands out: the TRAX 7 GPS tracker.
One of the foremost features of the TRAX 7 GPS tracker is its installation flexibility. This rugged, versatile and affordable tracker offers installation options to suit various business models and budgets, making the TRAX 7 a simple-to-use, reliable tool that can protect your vehicles and improve your bottom line.
TRAX 7 offers three distinct installation options, allowing you to choose the one that best fits your budget and desired level of control. Here are some possibilities that will help you know which PassTime GPS installation instructions will work best for your business needs.
The most cost-effective and straightforward installation method is the basic two-wire installation. This involves connecting the TRAX 7 device to the vehicle’s power and ground, allowing for basic tracking and monitoring capabilities. This option is ideal for businesses looking for basic tracking featuresthat need to scale asset protection quickly and affordably.
Even with a budget-friendly price point, the two-wire installation still provides essential tracking features such as pin-point location and unlimited real-time tracking, ensuring that you always know where your assets are.
If you’re looking for a quick and easy installation with added functionality, OBD2 harness installation is the perfect middle-ground solution. This OBD2 GPS tracking device utilizes a harness to connect to the vehicle’s OBD2 port, while still providing access to the port for diagnostics, making the device both discreet and efficient. This method is ideal for BHPH and subprime auto finance applications, because the tracker remains hidden from customers.
Despite the simplicity of the installation, you still have access to additional wires for starter-interrupt functionality if needed. This feature allows you to disable a vehicle remotely in the case of delinquent payments. Overall, the OBD2 harness installation offers a good balance of cost, control and ease of use.
For businesses that require the highest level of control and protection, the multi-wire installation is the most robust option. This advanced installation allows for features such as ignition monitoring, starter-interrupt and even door-lock/unlock control. This is the ideal solution if you are leasing to high-risk buyers, operating in a high-theft area such as Colorado or the Memphis metropolitan area or tracking high-value assets.
The multi-wire installation provides the most comprehensive asset protection, ensuring that you can monitor your vehicles’ status in real time and respond quickly in case of emergencies. If your business deals with costly assets or high-risk clients, this option offers unparalleled peace of mind.
TRAX 7’s versatile installation and features lend themselves to increasing profitability for your business. Here are the top applications for used car dealership GPS tracking and auto finance GPS tracking.
BHPH dealers often operate in the subprime automotive market. Because customers in this market are more likely to miss payments or default, the ability to locate and recover a vehicle quickly can make the difference between a loss and a manageable recovery process. TRAX 7 GPS devices help BHPH dealers protect their financed assets by minimizing delinquencies, protecting against fraud and improving cash flow. It is also great for used car dealer GPS tracking.
The device's pin-point location tracking ensures that you know exactly where to find your vehicle at all times. Moreover, its patented, proactive payment technology can automatically remind customers about upcoming payments, helping to reduce delinquencies.
For auto finance companies and credit unions, reducing collection costs and optimizing portfolio performance are crucial to long-term success. TRAX 7 tracking provides valuable insights that can help you efficiently track and communicate with your customers. By using TRAX 7 to monitor vehicles, finance companies can extend loans to a broader range of borrowers, including those with lower credit scores, while reducing the risks of delinquencies and repossessions.
The remote-disable feature allows you to disable a vehicle if payments are missed, making it easier to recover the vehicle when needed. In addition, you can set up geofencing to monitor when a vehicle enters or exits designated areas, providing extra protection for high-risk assets.
TRAX 7 tracking goes beyond simple tracking. It is equipped with cutting-edge Beyond GPS™ 4G LTE and 5G compatibility, allowing for real-time updates, the ability to track assets in places where GPS alone might fail and faster vehicle recovery. Here are some of the features that make the new-and-improved TRAX 7 a game-changing asset-management tool:
PassTime has been a leader in GPS solutions for over 30 years, offering cutting-edge technologies to monitor, protect and connect mobile assets. Whether you’re managing automotive assets, powersports, RVs or trailers, PassTime’s high-quality and reliable products, paired with unmatched customer support, make it a trusted partner in asset protection.
Ready to see what TRAX 7 tracking can do for your bottom line? Contact us today to request a quote, and learn how TRAX 7 can safeguard your business assets.