The Real Cost of a Repo Without a GPS Tracker
For auto finance and buy here pay here dealers, repossessions are part of doing business. But without a GPS tracker on the vehicle, every repo can turn into an expensive, drawn-out search.
The tow is only the beginning. Between skip tracing, wasted trips, and waiting for the right moment to catch the vehicle, costs stack up long before it ever reaches your lot.
Where the Repo Money Goes
Without a tracker, the tow alone can cost anywhere from $500 to $800. That number covers getting the vehicle hooked up and hauled, and nothing else.
Then comes skip tracing. When you don’t know where the vehicle is, someone has to dig through records, check addresses, and chase leads to find it. That work takes time, and time costs money. Even once you have a likely location, the timing has to line up. The vehicle needs to be there when the driver shows up. Every missed attempt means another trip, another fee, and another delay before you recover your asset.
A Repo With a Tracker on Board
With a GPS tracker installed, the repo becomes almost instant. There is no searching and no guessing where the vehicle might be.
You give the tow truck driver easy access to the one tracker on the vehicle you need recovered. They see where it is, drive straight to it, and pick it up. Done. The driver spends less time on the job, you skip the skip tracing, and the vehicle comes back faster.
Why Dealers Put a Tracker on Every Financed Vehicle
For auto finance dealers, a GPS tracker is protection for the asset you’re carrying the note on. When a payment stops, you already know where the vehicle is.
Cutting out skip tracing and repeat tow attempts on even a few repos can cover the cost of tracking an entire lot. Faster recoveries also mean vehicles get back on your lot and back into inventory sooner.
GPS and Track offers wired, OBD2, and wireless battery-powered trackers, so every financed vehicle can be covered in the way that fits your installs.
Want to learn more?
Whether you finance a handful of vehicles or run a full buy here pay here lot, we can help you find the right tracking setup for your dealership.