For used car and BHPH (Buy Here Pay Here) dealers and others in the subprime auto finance space, the use of GPS tracking devices has been around for decades. Like most technology, GPS tracking prices have come down significantly over the years. 

Prices that were in the $300-$500 per device range ten years ago, are now often between $100-$200 or even lower, depending upon functionality and quality of the devices.

In addition to the hardware cost, there is typically a service or airtime package that is associated with the device that includes the wireless service with the carrier that allows the device to communicate as well as access to a device management portal and any available mobile apps. Often, the service package is bundled with the hardware upfront and simply needs to be renewed after the initial period is up.

While many BHPH and used car dealers choose providers based upon the quality and features of their GPS tracking systems, price is nearly always a significant factor when selecting a solution. 

And while hardware and service package pricing are pretty straightforward, there is a cost that is often overlooked: installation.

Depending upon what type of business you are in, you may or may not have employees onsite that can install a GPS device. For BHPH dealers, most have service technicians that are able to install devices – for a price. Whether paying the service department directly or simply accounting for the time it takes to install a GPS device, the cost of installation is often overlooked when evaluating GPS products and providers.

PassTime’s revolutionary GPS solution, Encore, is changing pricing perceptions in the industry for BHPH dealers and subprime auto finance companies. Encore is wireless (as in no wires), self-powered through an advanced lithium metal battery and requires no installation.

Because the device does not need vehicle power to operate, there is no need to cut vehicle wires, splice, crimp, solder, tape and all the other aspects that typically go in to installing a GPS device. Encore’s portability allows it to be placed in the vehicle under the seat, in a headrest, or many other locations within minutes.

And while the battery-power aspect of Encore makes it simple and quick to use – it can create instant savings by eliminating the need to pay an in-house or third-party installer. By removing the installation cost associated with GPS tracking devices, Encore may result in savings of up to $50-$100 per vehicle.

As a self-powered GPS device that does not require installation, Encore is helping dealers and lenders save money and is changing price perceptions for BHPH dealers and subprime auto finance companies.  The often-overlooked cost of installing a GPS device is turning into real savings with Encore.