Guidepoint Transforms GPS-Based Payment Assurance With Recover It

LAS VEGAS, Sept. 21 /PRNewswire/ -- GuidePoint Systems today announced a new service for the buy-here pay-here (BHPH) market that will transform a GPS payment assurance device into a potential profit center for dealerships.  

The Madison Heights, Mich.-based telematics company said it has launched Recover It, a new GPS-based solution that provides payment assurance technology, but also allows a dealer to sell highly valued stolen vehicle recovery services to credit challenged customers.   Guidepoint made the announcement today at the Leedom Group's 16th Annual Buy Here-Pay Here National Convention at Caesar's Palace in Las Vegas.   Guidepoint is exhibiting at the conference in Booth #107.

The new Recover It solution lets BHPH dealers leverage Guidepoint's GPS-based payment assurance technology, which provides payment reminders, starter-interrupt and GPS tracking.  That technology can now be used to offer customers Guidepoint's award winning stolen vehicle recovery service.  

"There's no shortage of companies that can make a low-priced black box with GPS capabilities and $0 in monthly fees," said Werner Scherz, vice president of Guidepoint's finance channel.   "By adding highly valued services into the mix, we've created a total solution that can be a profit center for dealers rather than a cost center.  Most importantly, the customer gets some great benefits, including Guidepoint's award-winning stolen vehicle recovery service and, in many cases, a discount on auto insurance.  This is truly a win-win for both dealer and customer."

Launched in 2002, Guidepoint has established itself as a leader in stolen vehicle recovery services.  Sold at more than 2,500 dealerships nationwide, Guidepoint integrates GPS and advanced wireless technology, the Web and 24/7/365 response centers to deliver highly effective stolen vehicle recovery as well as driver convenience services.  The company has a 98 percent recovery rate, with most vehicles recovered in less than two hours.

"Working with law enforcement to provide safe, effective stolen vehicle recovery service is something that takes years to develop," said Rand Mueller, founder and chief executive officer.  "Guidepoint's fully staffed 24/7/365 response centers in Dallas, Detroit and Mexico work with law enforcement every day to safely recover stolen vehicles across the country and in Central America."

Over the past four years, Guidepoint has also quietly established itself in the automotive finance and buy-here/pay-here channel.  A recent study of the Top 50 Independent Retailers by Auto Dealer Monthly found that 28 percent of them use GPS and/or starter-interrupt technology.   The study notes:  "Of the eight different technology companies dealers named as their providers, only one company stood out, with 21 percent of dealers who have the devices naming Guidepoint as their provider."  

Earlier this year, Guidepoint was also awarded the 2010 North American Frost & Sullivan Award for Customer Value Enhancement for establishing itself as the preferred vehicle tracking solutions supplier to both the original equipment manufacturers (OEMs) and the aftermarket in North America.  

"Over the past decade, we have developed a range of solutions and best practices for new car dealers, automotive finance companies, BHPH dealers, fleets and other markets," Mueller said. "In each market we serve, we bring a core philosophy of innovation, value and service.  While we design and make great technology, we are ultimately in the business of providing services that customers need and desire."

About GuidePoint Systems: Sold through more than 2,500 new and pre-owned dealerships nationwide, Guidepoint integrates GPS, advanced wireless technology, the Web and 24/7/365 response centers to deliver a variety of services to vehicle owners and fleet managers. Rated the #1 stolen-vehicle tracking solution in 2007 by international research firm Frost & Sullivan, Guidepoint also offers a variety of driver safety, convenience, fleet management and vehicle tracking services. Visit www.guidepointsystems.com or call 1-877-GPS-FIND for more information.

SOURCE GuidePoint Systems

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