Technology-supported consumer communication goes a long way in reducing payment delinquencies while improving both your cash flow and your portfolio performance. Believe it or not, a remote, electronic vehicle-immobilization device can help facilitate that communication. Using starter-interrupt technology primarily does two things. First, it can improve communication because it incentivizes the customer to contact you if they are falling behind or struggling to make their payment. Instead of disappearing, the customer is more likely to get in touch to explain the situation and you’ll have the opportunity to work out a revised payment plan. Second, it makes the recovery process easier and often faster if you need to repossess the vehicle. Here are three things you need in your Vehicle-immobilizer system:
Installation is key to getting the right starter-interrupt GPS system. You should look for an engine-immobilizer system that offers the ability to be installed with either Normally Open (NO) and Normally Closed (NC) time-delay relays. Why? Because having these two options means you can install the same vehicle immobilizer in the widest range of vehicles regardless of make, model and year. You won’t have to order extra parts to connect the vehicle immobilizer and the engine. You won’t need to worry about complex installation methods that take time and risk interfering with the vehicle’s electronics systems. Instead, you get assured vehicle immobilization for a wide variety of vehicles from a single device type.
You should seek out a vehicle immobilizer that includes an installation-verification system. This way, you’ll know whether or not the electronic vehicle-immobilizer device was installed properly. If there is a problem, it is much better to identify and fix it at the time of installation, instead of finding out when the customer and vehicle have already gone. If it is, you’ll be assured of your vehicle-immobilization functionality. You’ll have the confidence you need to fund the loan and protect your assets.
Finally, while every company utilizing vehicle immobilizer technology should carefully review and implement compliance policies and procedures for their business, your technology provider should be source of information, materials and advisement. Written disclosures, which should be signed by the consumer in all instances, explain the use and functionality of the device to help ensure understanding. Additionally, your technology should be equipped with safeguards to let keep your business compliant with required warning periods and grace periods before using vehicle disablement features.
PassTime pioneered starter-interrupt GPS devices. Elite, PassTime’s award-winning, fully customizable vehicle-tracking and asset-management device, gives you remote vehicle-immobilization control that’s easy to install for practically any vehicle thanks to our NO and NC options. PassTime’s installation-verification system helps ensure your device is correctly installed prior to the customer leaving the lot. And PassTime starter-interrupt options are backed by compliance features, materials and support. Plus, Elite includes anti-theft along with tamper- and tow-detection alerts. As a bonus, you also get access to our proprietary Automated Collection Technology that optimizes the customer communications and payment collections.
Think you’re ready for the ultimate in vehicle-immobilization systems? Call us for a free quote.
