Technology Expands Opportunity During Tax Season Featured

By Ted Craig February 12, 2019 831

 

Tax season is the annual high point of sales for most buy-here, pay-here dealers.

Unfortunately, six months later comes the high point for repossessions. It’s classic high-risk, high-reward proposition.

But technology can reduce some of the risk, according to executives at telematics firm Spireon.

“They can afford take on a little more risk when this pops,” said Carla Fitzgerald, Spireon’s director of marketing.

Part of this risk mitigation comes from traditional starter-interrupt and GPS devices. But today Spireon offers a wider array of products that turn used cars into connected cars.

This means dealers can monitor the cars more closely and act before a problem gets out of hand.

“It allows a dialogue to take place between both parties,” Fitzgerald said.

A dealer might notice a car is moving less than usual and check to see if anything has changed. The dealer could discover a mechanical or employment issue that he can work to help the consumer solve.

The contact happens via Spireon’s app, so there is less having chase down consumers by phone.

Brian Deeley, Spireon’s , director of product management, said used-car dealers have been quick to adapt to his new way of communicating with customers.

The connected car aspect is especially important if a vehicle is being driven by more than one person, which is often the case with subprime consumers, Fitzgerald said.

“Don’t let tax season make or break your year,” she said.

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Last modified on Tuesday, 12 February 2019 20:19