GPS Is it right for my Dealership Dave

GPS- Is it right for my Dealership? | Dave Boekholder –VP Sales

What We Will Cover • What is GPS? – How does it work? • How does it apply to the Automotive and Finance Industry • The Challenges in GPS – Breaking the Myths • The Buy Here Pay Here Perception • The reality of GPS • Is GPS right for me? – Where can it help © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 2

What We Will Cover • Doing your homework – What are you trying to accomplish? – Setting up your processes – Installing the Devices? • Shopping for the right device – The truth about the industry – What Questions to ask • Closing • Questions? © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 3

What is GPS? The Global Positioning System (GPS) is actually a constellation of 27 Earth orbiting satellites (24 in operation and three extras in case one fails). The U. S. military developed and implemented this satellite network as a military navigation system. Each of these 4, 000 pound solar powered satellites circles the globe at about 12, 000 miles making two complete rotations every day. The orbits are arranged so that at any time, anywhere on Earth, there at least four satellites "visible" in the sky The receiver's job is to locate four or more of these satellites, figure out the distanc e to each, and use this information to deduce its own location. This information is then transmitted back to you (software platform) via the cellular networks © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 4

GPS in the Auto Industry © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 5

GPS Devices Overview GPS units can come in many shapes and sizes! GPS Device Payment Reminder/ Buzzer Starter Disable/ Relay © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 6

The Challenges in GPS Breaking the Myths! The Vehicle Intelligence Company | 7

Will using 'aftermarket' or recycled parts void my warranty? . The Magnuson-Moss Warranty Act makes it illegal for companies to void your warranty or deny coverage under the warranty simply because you used an aftermarket or recycled part. 2/27/2021 The Vehicle Intelligence Company | 8

Perceptions of the Buy-Here Pay-Here Dealer using GPS © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 9

Next Generation in Dealers & Finance Companies using GPS © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 10

IS GPS Right For Me? The Vehicle Intelligence Company | 11

GPS- Where Can It Help? Dealers often use GPS to: • Find or Recover Vehicles from Defaulted Loans • To Remind/ Make Contact with Customer for Payments (Buzzer) • To Replace a Requirement of Financing • Minimize Staff for Customer Payment Collections • • • To Monitor Vehicle Inventory A Negotiating Tool for Dealership Insurance To Validate information Given by Customer Negotiating Better Repo Rates Watch for Excessive Miles on Cars by Customers © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 12

Doing Your Homework! The Vehicle Intelligence Company | 13

What are you trying to Accomplish! Make a List with Priorities • • Locate My Investment Secure My Car Lot Verify Customer Information Mitigate Other Operating Expenses • Behavior Modification or Vehicle Recovery © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 14

Setting Up Your Processes Rules of Engagement as You Move Forward • • • Who will Have System Access? Assigning Limits and Restrictions What Notifications Reports am I looking for? (ex. Abandonment Notification) How Many Days will I Wait to Send a Payment Reminder (If using Buzzer) How Many Days will I Wait to Send Disable Command (If using Interrupt) When will I Locate and Pickup My Vehicle © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 15

Finding the Right Technician The number one cause of GPS Failure is poor or improper installation!!!!! Some of the Question you should ask your Tech before they install your GPS” ü Have you ever installed these devices before? ü How much electrical experience do you have? ü Do you need more information on installation these devices? © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 16

Using the Wrong Techs! Bad Installations can cause: ü Poor Product Performance ü Possible effects to the Car ü Poor Collections and Payments ü Ultimately, Loss of Vehicle © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 17

Shopping For The Right Device The Vehicle Intelligence Company | 18

The Truth About The Industry Facts to Know! • • • Reality is Most GPS Units have the Same Basic Features Be Cautious of Startup and Companies with Incredible Deals Many Companies Do Not Continue to Develop Infrastructure Data Storage can Vary Widely Between Each Company Some GPS Companies May Not Purchase Airtime Directly from the Carriers (ATT, Verizon, T Mobile, Sprint) • Future of GPS Technology is Data and Analytics © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 19

What Questions to Ask? Asking the Right Questions Insures You are Buying a Quality Product! • How Long Has Your Company Been in Business? • Who Provides Your Cellular Services? • Is Your Devices 3 G, 4 G, or LTE? • How Much Airtime Do I Get With a Purchase of a Device? • Does Your Company Escrow the Future Airtime Payments? • What is Your Device Warranty? • What other Companies Use Your Devices? © 2018 Spireon, Inc. All Rights Reserved. The Vehicle Intelligence Company | 20

In Closing The Vehicle Intelligence Company | 21

Questions? The Vehicle Intelligence Company | 22