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TECHNOLOGY

Put an End to "Buy Here, Pay Whenever"

with Vehicle Location Data

BY ALEX PRICE, DIRECTOR OF RISK SOLUTIONS FOR DRN

interactive map that lays out the sightings, reasons I encourage you to consider add-
pointing you to the best location and time ing vehicle location data to your recovery
to find your asset. Dealers can even set up strategy:
alerts notifying them every time a vehicle
on your recovery list has been sighted. Vehicle Location Data Is:
• Cost effective. There is no hardware
Time to Rethink Your Strategy purchase and install - hardware that
can be damaged or disabled.
So you’ve got it all figured out and your • Helps you avoid bad press or reputa-
customers won’t disable or outsmart their tion and compliance issues.
starter interrupters and GPS devices. It • Removes the perception of surveil-
would be wise to keep in mind the issues lance issues – you are capturing pub-
involved with these devices. They can pose licly available information: images of
a significant risk to your business. We’ve license plates.
all heard the stories of vehicles being • Free from opt-in requirements – all
I talk to Buy Here Pay Here (BHPH) dealers shut-off remotely at the most inopportune license plates are publicly visible so
every day and they all report one of the big- times, leading to harm to the debtor, nas- that license plate recognition (LPR)
gest challenges they face is vehicle recovery. ty publicity and even legal expenses. Now, technology can capture the plate in-
Many turn to “payment assurance devices” more and more states, like New Jersey, formation including the date, time
like GPS, yet despite all the promises of are proposing legislation that prevents or and location of the sightings.
GPS, it remains an opt-in technology that limits the use of starter interrupters and
can easily be disabled. Or they rely on start- GPS. What happens if your entire recovery DRN Offers Free VIN Test
er interrupters with GPS embedded in them strategy hits a legislative wall?
– a piece of electrical hardware that can be Still need more proof? DRN is offering
easily disabled, removed or destroyed. Vehicle location data simply puts you in BHPH dealers a free VIN test for up to 10
the best position to recover your asset, and VINs. Submit your VINs and once DRN
Now more and more BHPH dealers are it's a less expensive option than starter in- has verified DPPA permissible use, DRN
turning to vehicle location data and are terrupters outfitted with GPS that require will put over 5 billion sightings to work
saying that it’s a better alternative to GPS installation in addition to the initial cost looking for your VINs. DRN will provide
and starter interrupters. Some dealers opt of the device. a report that shows the total number of
to add vehicle location data to the mix their sightings for each VIN. It’s a no-risk way
GPS and starter interrupter mix. Here’s why Skip Tracing with Vehicle to find out what vehicle location can do
– vehicle location data is gathered from Location Data for you.
publicly available license plates via license
plate recognition (LPR) technology and so My entire career has been dedicated to To find out if you qualify and get your free
no one has to opt in. The cameras capture teaching people the science and the art of VIN test for up to 10 VINs, go to: http://
the plate image, plus the date, time and lo- skip tracing and for me, vehicle location go.drndata.com/free-vin-search. n
cation of the sighting. With over 5 billion data is a game changer. The main reason? __________________________________
sightings, yep billion with a ‘B,’ there is a It works – I absolutely find more vehicles A nationally-recognized skip-tracing ex-
good chance your car is among those sight- than I would have otherwise. And when pert, Alex Price provides an insider’s view
ings. I find the vehicle, I usually find the best on the industry. As the Director of Risk
contact for a person. For BHPH dealers, Solutions for DRN, Alex provides in-depth
Accessing LPR data is easy – no IT integra- the promise of vehicle location data is sim- training and unique strategies and insights
tion required, just a computer and an In- ply finding more vehicles, faster. For ex- on how lenders can leverage vehicle loca-
ternet connection. Enter a VIN or license ample, DRN’s numbers show an increase tion data and analytics to improve their op-
plate for your car, and any sightings will be in recoveries by up to 35% and a reduction erations and drive revenue.
populated into your account. You get an in days to recovery by 50%. Here are other

GIADA Independent Auto Dealer FEBRUARY 2017 | 41