GPS: Never loose your car again

Never loose a car again...

By installing BounceGPS collateral protection units in vehicles with higher risk loans, BHFC, a lender in Phoenix, Arizona, has been able to reduce loan portfolio risk and speed the recovery of vehicles with delinquent loans.

BounceGPS for Collateral Protection is an advanced vehicle tracking system that can be discreetly installed in cars, trucks, construction equipment and other mobile assets. It is produced by DataLogic International, Inc., a provider of GPS-based mobile resource management and secured mobile communications. Its low-cost and effectiveness provides an affordable method for automotive finance companies to mitigate loan portfolio risk by reducing the likelihood of loan default and speeding the return of delinquent collateral.

When repossession is required, BHFC merely contacts the BounceGPS operations center, provides the VIN of the vehicle and the BounceGPS team does the rest. The location of the vehicle is determined and a repossession company is notified, resulting in an efficient, cost-effective recovery. Unique to BounceGPS is the Predictive Positioning feature which assists repossession agencies by identifying the time and place for a repossession.

"Since using BounceGPS we've had to repossess at least a dozen vehicles. In some cases those cars were recovered in less than 30 minutes from contact to recovery. To say we're getting value for our investment is an understatement. And we're seeing a significant reduction in delinquency on BounceGPS equipped vehicles," says BHFC Owner Tom Medaglia.

BHFC has successfully executed rollout of BounceGPS for Collateral Protection to more than 100 collateralized vehicles and continues to add new units monthly.

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Source: Telematics Journal

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