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GPS- Is it right for my Dealership? | Dave Boekholder –VP Sales

GPS- Is it right for my Dealership? | Dave Boekholder –VP Sales. What We Will Cover. What is GPS? How does it work? How does it apply to the Automotive and Finance Industry The Challenges in GPS Breaking the Myths The Buy Here Pay Here Perception The reality of GPS Is GPS right for me?

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GPS- Is it right for my Dealership? | Dave Boekholder –VP Sales

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  1. GPS- Is it right for my Dealership? | Dave Boekholder –VP Sales

  2. What We Will Cover • What is GPS? • How does it work? • How does it apply to the Automotive and Finance Industry • The Challenges in GPS • Breaking the Myths • The Buy Here Pay Here Perception • The reality of GPS • Is GPS right for me? • Where can it help

  3. What We Will Cover • Doing your homework • What are you trying to accomplish? • Setting up your processes • Installing the Devices? • Shopping for the right device • The truth about the industry • What Questions to ask • Closing • Questions?

  4. What is GPS? The Global Positioning System (GPS) is actually a constellation of 27 Earth-orbiting satellites (24 in operation and three extras in case one fails). The U.S. military developed and implemented this satellite network as a military navigation system. Each of these 4,000-pound solar-powered satellites circles the globe at about 12,000 miles- making two complete rotations every day. The orbits are arranged so that at any time, anywhere on Earth, there are at least four satellites "visible" in the sky The receiver's job is to locate four or more of these satellites, figure out the distanc­e to each, and use this information to deduce its own location. This information is then transmitted back to you (software platform) via the cellular networks

  5. GPS in the Auto Industry

  6. GPS Devices Overview • GPS units can come in many shapes and sizes! GPS Device Payment Reminder/ Buzzer Starter Disable/ Relay

  7. The Challenges in GPS Breaking the Myths!

  8. Will using 'aftermarket' or recycled parts void my warranty? . The Magnuson-Moss Warranty Act makes it illegal for companies to void your warranty or deny coverage under the warranty simply because you used an aftermarket or recycled part.

  9. Perceptions of the Buy-Here Pay-Here Dealer using GPS

  10. Next Generation in Dealers & Finance Companies using GPS

  11. IS GPS Right For Me?

  12. GPS- Where Can It Help? • Find or Recover Vehicles from Defaulted Loans • To Remind/ Make Contact with Customer for Payments (Buzzer) • To Replace a Requirement of Financing • Minimize Staff for Customer Payment Collections • To Monitor Vehicle Inventory • A Negotiating Tool for Dealership Insurance • To Validate information Given by Customer • Negotiating Better Repo Rates • Watch for Excessive Miles on Cars by Customers • Dealers often use GPS to:

  13. Doing Your Homework!

  14. What are you trying to Accomplish! • Locate My Investment • Secure My Car Lot • Verify Customer Information • Mitigate Other Operating Expenses • Behavior Modification or Vehicle Recovery • Make a List with Priorities

  15. Setting Up Your Processes • Who will Have System Access? • Assigning Limits and Restrictions • What Notifications Reports am I looking for? (ex. Abandonment Notification) • How Many Days will I Wait to Send a Payment Reminder (If using Buzzer) • How Many Days will I Wait to Send Disable Command (If using Interrupt) • When will I Locate and Pickup My Vehicle • Rules of Engagement as You Move Forward

  16. Finding the Right Technician The number one cause of GPS Failure is poor or improper installation!!!!! Some of the Question you should ask your Tech before they install your GPS” Have you ever installed these devices before? How much electrical experience do you have? Do you need more information on installation these devices?

  17. Using the Wrong Techs! • Bad Installations can cause: • Poor Product Performance • Possible effects to the Car • Poor Collections and Payments • Ultimately, Loss of Vehicle

  18. Shopping For The Right Device

  19. The Truth About The Industry • Reality is Most GPS Units have the Same Basic Features • Be Cautious of Startup and Companies with Incredible Deals • Many Companies Do Not Continue to Develop Infrastructure • Data Storage can Vary Widely Between Each Company • Some GPS Companies May Not Purchase Airtime Directly from the Carriers (ATT, Verizon, T-Mobile, Sprint) • Future of GPS Technology is Data and Analytics • Facts to Know!

  20. What Questions to Ask? • How Long Has Your Company Been in Business? • Who Provides Your Cellular Services? • Is Your Devices 3G, 4G, or LTE? • How Much Airtime Do I Get With a Purchase of a Device? • Does Your Company Escrow the Future Airtime Payments? • What is Your Device Warranty? • What other Companies Use Your Devices? • Asking the Right Questions Insures You are Buying a Quality Product!

  21. In Closing

  22. Questions?

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