The Trepid Economic Climate Calls for a New Way For BHPH Dealers To Protect Their Collateral
With inflation rates at record highs across the country, business owners are looking for ways to protect their bottom line and generate a predictive operating cost for their treasured business. Since GPS tracking providers started providing their services to those in the auto-lending and Buy Here Pay Here landscape, every collateral protection has been provided on a per-device basis, with dealers and providers constantly working each other down for the lowest cost possible each time they needed a resupply of devices.
Throughout the COVID-19 pandemic, the CallPass team conducted extensive research on the pain points faced by the industry and the evident limitations of unit-by-unit purchasing of GPS devices and a solution surfaced; the iGotcha Choice Plan.
Economic Hurdles Facing the BHPH Industry
Recently, there has been an ‘explosion’ of car repossessions across the country that has further highlighted the need for reliable GPS tracking for collateral, but more importantly, it has illustrated the various factors facing the industry, accumulating to this rise in repossessions.
Did you know? Used car prices have skyrocketed over 44% since 2020-21! That’s right. This has forced those already risky buyers to borrow more and more money as prices have risen, making the risk of taking them on as a customer even higher.
Another result of the sky-rocketing rates of repossessions is a result of the various influxes of economic support payments, stimulus checks, unemployment and more, creating a false sense of security for buyers. Also, according to reporting noted by CBS News, banks weren’t doing income verifications to account for these pumps of cash as they had in the past.
When the repossession rates of both subprime and prime borrowers are rising, it is evident there is a critical issue at play for BHPH dealers across the country as they strive to run a profitable business, highlighting the importance of flat rates and predictable costs for their bottom line.
What Does a Subscription Program for GPS Collateral Protection Service Offer Your Dealership?
As Jason Ashton, the CEO of CallPass states, it’s a “very clean and easy way to manage expenditures on a monthly basis and provide a tremendous amount of savings”. The iGotcha Choice Plan is one of its kind, serving as the only subscription-based approach to collateral protection for the BHPH industry. As mentioned before, this unique option for those protecting auto assets with GPS devices was birthed after extensive dialogue with dealers and a firm understanding of the current economic climate.
With aims to simplify a variety of facets that dealers face when currently striving to recover their collateral, the iGotcha Choice Plan is a subscription to the iGotcha platform that allows for FREE GPS devices monthly. The devices connect to the iGotcha platform, and the customer’s GPS tracking service begins. The iGotcha Choice Plan pioneers an array of benefits that are sure to take the BHPH landscape by storm, look at a few of the key ones below!
- The iGotcha Choice Plan Guarantees Savings, Because
- With An Active Subscription, Devices Are Always FREE
- Predictive Operating Costs Monthly & Annually
- Reallocate Savings To Other Priorities On Your Lot
- Remove The Hassle of Reusing Devices
A Protection Plan For A Used Car Dealership of Every Size
The good news doesn’t stop. To make sure every dealer’s needs are covered the iGotcha Choice has 5 varying plans with a different allotment of FREE devices each month! Take a look at each plan below…
- Plan 1 – $369/Per Month with up 10 Free Devices
- Plan 2 – $859/Per Month with up to 25 Free Devices
- Plan 3 – $1,559/Per Month with up to 50 Free Devices
- Plan 4 – $3,059/Per Month with up to 100 Free Devices
- Plan 5 – $4,309/Per Month with up to 200 Free Devices
For dealers who need more than 200 devices a month, the iGotcha team can work with you to build out a specialized plan for you!
These various subscription plans guarantee that customers receive the proper number of devices to fit their individual business needs, never overspending or overstocking their shelves with unused devices. Take as many from your allotment as you need when you need them.
Make The Right Choice. Subscribe To The iGotcha Choice Plan Today!
Now more than ever, every dollar matters, that is why the CallPass team is thrilled to bring the iGotcha Choice Plan to our customers and dealers across the country! Do you have questions about how the choice plan works? Simply click the button below and a dedicated iGotcha team member will reach out to you right away to walk you through all the benefits and find a plan that fits your business!
