Provides auto lenders a validated fingerprint and data associated with the financed vehicle
Advantage GPS, a Procon Analytics company that captures and translates raw data into actionable business intelligence and assists in the mitigation of financial losses to automotive finance companies, has introduced the industry’s first Vehicle Identification Number (VIN) verification feature today — VIN Verify —to its popular full-featured automotive analytics platform.
Advantage GPS created VIN Verify to seamlessly identify a vehicle’s VIN along with its make, model and year. Advantage’s Evo GPS device reads the VIN data from the vehicles onboard diagnostic port and populates the information on its user-friendly dashboard. This proprietary enhanced technology eliminates the need to manually enter the VIN into the system — ending inaccuracies and wasted time.
“The existing antiquated technology in the marketplace requires a manual entry or scan of the VIN number,” said David Meyer, Advantage GPS President. “There’s no authentication that the GPS unit is connected to that specific vehicle. When our Evo GPS unit is installed VIN Verify collects the VIN information digitally. It’s very satisfying that once again we are the first to bring exciting new technology to the market.”
Advantage GPS recognizes that one of the most tedious tasks BHPH dealers have when adding a financed vehicle into their database is entering a complicated 17-digit VIN number comprised of letters and numbers. VIN Verify eliminates the chances for incorrect information being entered or entering a correct VIN into the wrong finance agreement. Having accurate data is absolutely necessary for dealers to be fully compliant with related finance or third-party finance companies. VIN Verify gives retailers full confidence the vehicle they financed is the correct vehicle and protected by Advantage GPS.
When VIN Verify is activated, a simple keystroke on Advantage GPS’ user-friendly application collects the VIN then populates the dashboard along with the vehicle’s make, model and year. Now obsolete, old VIN scanner technology does not notify the dealer if a device is removed and moved to another vehicle.
VIN Verify will be an important tool for recovery specialist as well. Recovery professionals will have immediate access to the vehicle’s VIN giving them the ultimate fingerprint to identify the right asset. Meyer said the new technology was immediately embraced by Advantage GPS partner the American Recovery Association.
“Every day we work hard at improving our hardware, software and innovate new solutions that give our clients increased operating efficiency, and compliance,” Meyer said. “VIN Verify is our latest innovation added to our predictive analytics platform”
“We are very pleased to be the first GPS provider to offer VIN Verify,” Meyer said. “Since we launched in early 2017, we now have more than 4,000 automotive clients and have deployed over 850,000 devices. We will continually innovate to enhance our products, software and customer services, and look forward to more announcements in the near future.”
About Advantage GPS
Advantage GPS by Procon Analytics provides GPS technology and innovative data analytics that empower BHPH dealers and vehicle finance companies to make smarter, faster and more profitable business decisions. The company’s seasoned leadership team has been revolutionizing risk mitigation tools and real-time automotive analytics to help lenders protect vehicle assets, reduce delinquencies and speed up recoveries when needed for over a decade.