GPS Products: Latest Technology | Advantage GPS

GPS Products

Subprime portfolio loss metrics compiled by Subprime Analytics showed a number of improvements in 2019 compared to 2018 including the average gross dollar loss, net dollar loss, and more. We all know, however, that 2020 will be one for the record books, and we won’t know it positive or negative impacts for some time, though anecdotally the subprime and BHPH marketplace has remained strong, at least in most regions of the country.

Used Vehicle Prices Rising

According to Cox’s Kelley Blue Book, the average price of a used car rose 8.3% from February through August 2020, to $21,932. During the same period, the average new vehicle price rose 2% to $38,635. Prices for used vehicles were up 6.7% in September 2020, the largest month-over-month increase since February 1969. As new car sales all but stopped during the height of the pandemic lockdowns in the early spring and factories were shuttered, used vehicle sales remained fairly strong, but with low new car supply, used car prices rose, and demand has increased.

2020 Used Car Retail Price Graph - Advantage GPS

Industry Challenges

Our industry remains in good health despite the economic headwinds caused by the pandemic. Layoffs, furloughs, and business closures have resulted in millions of unemployed consumers. Federal and state economic assistance has helped to ease the pain, but those in the subprime finance industry have had to make collections and repossession decisions with little precedent to guide them. Technology, the data it generates, and AI-powered analytics has assisted these professionals with real-time decisioning.

Delinquencies have picked up, as have losses on subprime loans according to Bloomberg Businessweek.

Help Is Here

Advantage Automotive Analytics’ makes these tough decisions easier. Our proven real-world finance expertise, automotive retail experience, and unsurpassed technological prowess has resulted in the most sophisticated hardware and artificially intelligent software that assists finance professionals, both subprime finance companies and BHPH dealers, in optimizing portfolio performance. Our platforms track, protect, and locate vehicle collateral, and our analytics make collections decisions easier now and assist with future funding decisions.

Hardware Portfolio - Wired & Wireless - Advantage GPS

Replacing Outdated Technology

By listening and then eliminating outdated technology, we’ve provided many firsts in technology designed to improve operations, reduce costs and help auto lenders keep more in their pockets:

  • 2017 Began shipping 100% 4G LTE Cat-M only devices that are fully 5G-network compliant
  • Interactive, real-time dashboard
  • AI technology that automatically groups risks into easy-to-understand liability categories
  • Access to all GPS devices regardless of who you purchased devices from
  • A family of wireless devices powered by the most-advanced battery technology in the market
  • Evo UL –  an unlimited connectivity option, no airtime fees, no renewals
  • Cash-flow efficient Pay-as-you-go options
  • VIN verification
  • And more …

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