Navigating the world of auto financing can bring up questions about the tools and technologies dealerships use. One such technology is GPS tracking for financed vehicles. You might wonder why this is part of the financing process and what it means for you as a buyer. Simply put, these systems are a key part of our risk management strategy. They serve as a security measure for the vehicle, which is the collateral for the loan. This added layer of security allows us to work with a broader range of financial situations and provide more people with the opportunity to purchase a quality pre-owned vehicle. By protecting the asset, we can extend financing possibilities to individuals who might not be approved through traditional lending channels. It is a tool that opens doors, helping you get behind the wheel of the car you need while giving us the confidence to provide the loan.
Payment Reminder (optional)
Parking Behavior Report
Accident Notification
Tow Alert
Impound Lots Monitor
Mileage Tracking
Special Relays for Faster Installation
Backup Battery
Accident Notification
Tow Alert
Impound Lots Monitor
Mileage Tracking
OBD Installation (optional)
Backup Battery
Cost Effective Device
Flexible Tracking Intervals
3 Year Battery Life
Our goal is to be completely transparent about our financing process. We believe that an informed customer is a confident buyer. GPS tracking technology is a standard and secure practice in the automotive finance industry, particularly for in-house financing programs. It represents a partnership between you and us, enabling a path to vehicle ownership that is built on mutual understanding. This technology provides peace of mind for both parties and is a crucial component that helps us offer competitive and flexible financing solutions.
Understanding the Role of GPS Technology in Your Auto Loan
When you finance a vehicle through a dealership, especially through a Buy Here Pay Here (BHPH) or in-house lending program, the car itself serves as the collateral for the loan. To protect this significant asset, many lenders, including us, utilize advanced automotive GPS tracking systems. This is not about monitoring your every move; it is a straightforward and effective method of asset protection and risk mitigation. By having a reliable way to locate the vehicle, we can reduce the financial risk associated with lending. This reduction in risk is what allows us to say "yes" to more customers, including those who may have been turned down by banks or credit unions due to their credit history. It is a vital tool that bridges the gap between a customer needing a car and a lender needing to secure their investment.
How GPS Tracking Creates More Opportunities for You
The primary benefit of GPS tracking for financed cars is that it directly increases your chances of being approved for a loan. Traditional lenders often rely heavily on credit scores, and a low score can be an immediate barrier. We look beyond just a number. By using GPS technology, we can focus more on your current ability to make payments and less on past financial difficulties. This approach opens up reliable transportation to hardworking individuals who are rebuilding their credit. Think of it as a key that unlocks financing options that would otherwise be unavailable. If you are ready to see what options might be available for you, we encourage you to get pre-approved online today.
Beyond financing, these systems offer a powerful personal benefit: stolen vehicle recovery. Vehicle theft is an unfortunate reality, but with a GPS device installed, the chances of recovering a stolen car increase dramatically. If your vehicle is ever stolen, the tracking system can provide its exact location to law enforcement, facilitating a swift recovery. This not only protects your investment but also provides invaluable peace of mind. Many of our vehicle protection products are enhanced by this technology, providing a comprehensive security solution for your new car.
The Technology and Your Privacy
We understand that the thought of a tracking device in your car can bring up questions about privacy. Let us put your mind at ease. The devices we use are small, professionally installed, and discreet. Their purpose is strictly limited to the terms outlined in your financing agreement. We are committed to protecting your personal information, and the use of this location data is governed by strict protocols and our comprehensive privacy policy.
The system is primarily used for two purposes:
- Asset Location: In the event of a loan default, the device helps in the lawful and efficient recovery of the collateral, which helps keep costs down for everyone.
- Theft Recovery: As mentioned, it is a powerful tool to help you and the police recover your vehicle if it is stolen.
Some advanced systems may also include features like payment reminders or starter interrupt technology. A starter interrupt GPS tracker is a feature that may be used only after multiple attempts to contact a customer about a severely delinquent account have failed, and only in accordance with all state and federal regulations. All such features and the specific circumstances of their use are fully disclosed in your contract. Our team is always available to walk you through the agreement and answer any questions you may have. You can learn more about our transparent process on our how it works page.
A Partnership for the Road Ahead
At our dealership, we view our relationship with customers as a partnership. We want to see you succeed in paying off your loan and enjoying your vehicle for years to come. GPS tracking technology is one of the ways we make that possible for a wider community of drivers. It is a sign of our commitment to finding flexible solutions and providing opportunities. By securing the loan asset, we can manage our risk and pass the benefits on to you in the form of accessible financing. We are proud of our role in the community and invite you to learn more about us and our customer-first philosophy. If you have any questions about our use of dealership GPS tracking systems or any other aspect of our financing, please do not hesitate to contact us.
Frequently Asked Questions
Is a GPS tracker required for all financing at your dealership?
For our in-house financing programs, a GPS tracking device is typically a standard component of the loan agreement. This is because it is the primary tool that allows us to mitigate risk and therefore extend financing to individuals with a wide variety of credit profiles. The requirement will be clearly discussed and detailed in your financing contract.
Who pays for the GPS tracking device and its service?
The cost of the device and its monitoring service is generally factored into the overall financing agreement. We are fully transparent about all costs associated with your loan, and any fees related to the GPS system will be clearly itemized and explained to you before you sign any paperwork. There are no hidden charges.
What happens to the GPS device after my loan is paid off?
Once your auto loan is paid in full, you have a couple of options. The device can be professionally removed from your vehicle at your request, or it can be left in place. Some customers choose to keep the device and subscribe to a personal monitoring service for continued stolen vehicle recovery protection and other features.
Does the GPS tracker drain my car battery?
The professional-grade GPS devices we use are designed to be extremely energy-efficient. They draw a very minimal amount of power from the vehicle's battery, especially when the car is turned off. The power draw is negligible and will not cause battery issues in a healthy, well-maintained vehicle.
Can I see the location of my own car using the GPS?
In most cases, the GPS is for the lender's asset management purposes only. However, some systems do offer customer-facing features, such as a mobile app for locating your vehicle or setting alerts. If this is an option with the system installed in your vehicle, we will provide you with all the details on how to access it.
