New plans for dealer protection and profit

We sell Guidepoint through about 2,000 dealerships across the country these days, mostly as a product they can sell to consumers. Today, we're announcing a couple of new applications and plans that are aimed at helping the dealership protect their unsold inventory and loaner cars - while still giving them a profit opportunity.

Later today, we'll be announcing a new Loaner Car Protection Plan that will help dealers protect the vehicles they loan out to customers. Believe it or not, some customers don't return loaner cars in a timely manner and, occasionally, they don't return them at all. While the dealers can charge lates fees and fines, the reality is the dealership doesn't want to be penalizing its customers...it just wants the metal back. Our new loaner car plan gives the dealership the ability to remind the customer that the car is due back and, if things get really dicy, they can shut down the starter and use GPS to track the vehicle and send police to recover it.

We've also launched a new Lot Protection Plan that allows dealers to protect and monitor inventory vehicles. Cars do get stolen off dealer lots at times, and for mega-dealers, they sometimes get "misplaced." The lot protection plan will allow them to track the whereabouts of unsold vehicles and, in the case of a theft, use Guidepoint's award-winning stolen vehicle recovery service to get the car back quickly.

Here's the cool thing for the dealers: In addition to protecting the vehicle while the dealer still owns it, the Guidepoint unit can later be sold to the customer who purchases the vehicle. The consumer can then use the Guidepoint unit for a variety of services, from stolen vehicle recovery and emergency dispatch to turn-by-turn driving directions, tracking a teen driver or managing a business fleet.

Both the new plans use our state-of-the-art module and can be paired with an ODB-II connector for a fast and simple install. That should mean less time under the dash and, as always, time is money.

Our CEO, Rand, had this to say: "With the challenging economic climate, it’s more important than ever before for dealerships to reduce their losses and seek out new profit opportunities. These new services can help dealers cut losses from theft and vehicle misuse, but can also give them a unique and sought-after selling opportunity after the vehicle is sold.”

Both new plans utilize Guidepoint’s award-winning technology and services; including 24/7/365 call center support and an easy-to-use Web interface for tracking and controlling vehicles. We've really begun to use those assets to crank up the innovation in the past 18 months, and now deliver a range of services for vehicle owners, dealerships, lenders and business owners, including our award-winning stolen vehicle recovery, emergency dispatch, driver convenience, fleet management and vehicle tracking and control services.