Vehicles acquired on loan are increasingly being equipped with equipment tracker GPS units with starter interrupt devices. The logic behind this trend is obvious. Owners are protecting their assets and prompting borrowers to make vehicle payments on time.
Prior to the development of this technology, owners often had to spend considerable time and money to repossess a loaned vehicle when borrowers defaulted on a loan. Nonpayers could continue to use the vehicle until the owner successfully removed it from their possession, sometimes for weeks, or months.
Not anymore. If a payment is not made on time, the lender can remotely shut off the vehicle’s starter, locate the vehicle with GPS, and recover their property. Using equipment tracking GPS’ starter disable for loaned vehicles is just one of the many benefits of this advanced technology that allows vehicle owners to control and keep their assets safe.
Benefits for Loaned Vehicles
GPS equipment tracking units with starter disable have many features that help owners know where the vehicle is, and what events are happening to the vehicle. These features include:
1. Tamper Alert
GPS units often frustrate customers who are unable, or unwilling, to comply with the loan terms. Removing the GPS unit may appear to be a viable option to these malcontents, as it would remove the navigation ability, and the starter disable feature, so the car would remain functional and its location would be unknown.
Tamper alerts notify the owner immediately when a GPS has been meddled with or removed. GPS units with tamper alerts have a backup battery and will continue to track even after they are removed from the vehicle. This data lets the owner know that their loan vehicle is at risk, and gives them an opportunity to contact the borrower.
2. Address Verification
GPS trackers can locate vehicles in real-time. And, with address verification features often included with GPS starter disable systems, additional information is available that can help pinpoint a borrower's location.
Address verification history reports help an owner skip trace a borrower’s location, when necessary. Not only is the borrower’s home and work addresses verified, the tracker identifies all locations where the vehicle is parked for more than four hours. Some address verification filters can arrange all stops within a 90-day period, identifying the date, and the duration of the stop.
The more owners can keep tabs on their loaned vehicles, the more pitfalls they can avoid when a customer does default on a loan. Starter disabling GPS gives owners the ability to:
- Increase the likelihood of timely payments
- Lower financial risks of abandoned or broken down vehicles
- Lower the number of defaults resulting in repossession
- Simplify and streamline repossession procedures
- Locate and recover vehicles 24/7
Benefits for Fleet Manager
There are many situations when remote disabling systems are of vital importance to rental fleet management. These specific circumstances could include:
- Unauthorized contact or use of a vehicle
- Vehicle entry outside of authorized area
- Detected system issues that could result in engine damage
- Emergency situations
- Vehicle failure to follow predetermined route
In fleets, equipment tracking GPS' disabling systems are often integrated with other systems, such as door sensors, temperature sensors, cargo sensors, and trailer connection systems. Disabling features can also be initiated by dangerous changes in vehicle system status, such as engine oil pressure, or coolant temperature.
Remote vehicle disabling systems give fleet managers the ability to stop a vehicle from starting or moving. Once the vehicle is stopped, systems may automatically lock the vehicle’s brakes or prevent the engine from being started.
Certain circumstances warrant the option of stopping a vehicle before it can be started. It has made many a loan defaulter unhappy and saved those who loan vehicles hundreds of dollars in potential recovery costs. Applications of equipment tracking GPS' starter disable systems are broadening, and vehicle control and security, just keep getting better.
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