| How Important Is Giving Customers |
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| Written by Stan Schwarz |
| Tuesday, 09 November 2004 16:00 |
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Recently, I have been writing articles, most relating to how end-user customers are perceived in the market place. Theyve been getting quite a bit of attention from the industrys leading dealers, finance companies, and banks.
For the past couple of months we have been running an intensive advertising campaign, promoting the multiple benefits of starter-interrupt devices to customers in the market. The campaign informs sub-prime customers about the benefits of purchasing a vehicle from a dealership actively utilizing starter-interrupt devices. Not only do starter-interrupt devices feature anti-theft functionality, but also enable customers to obtain financing on a more valuable vehicle, improving the customers overall quality of life.
The consumer reaction has been fantastic, with hundreds of customers contacting the dealerships or the hotline directly. Customers with poor credit are excited to learn of a second chance at auto financing, appreciating the role that starter-interrupt devices play in ensuring they make their payments in a timely manner. The dealerships are also playing an important role in reporting the customers payment history to the appropriate credit bureaus, ensuring the customers are able to improve their Beacon scores over time.
Despite these initial efforts to improve both the reputation of the sub-prime lending industry, and the vital role that starter-interrupt devices play in improving payment performance, several companies in the industry seem hell-bent on giving the industry a black eye through their unscrupulous activities. The practice of discouraging dealerships from legally disclosing the installation of starter-interrupt devices is probably the most disturbing issue facing the industry. Dealerships need to be very careful when considering this practice, because the installation of a starter-interrupt or GPS-based device without a customers consent is a legal case waiting to happen. Given the vast number of privacy and right-to-cure protections put in place, dealerships should be extremely cautious before adopting such subversive practices.
Another alarming market development has been the trend of starter-interrupt companies promoting the use of devices being installed on the ignition wire of vehicles. This installation method has a number of limitations, the most alarming of which is the possibility of a vehicle being disabled while moving. Such an installation practice is an accident waiting to happen. If one customer is hurt or injured because of such a practice, it will inevitably reflect poorly on the whole industry.
It is, therefore, more important than ever to review the companys technology, service capabilities, and track record, but also their company philosophy and business practices when choosing a starter-interrupt vendor as your payment assurance partner. With the sharpest legal minds constantly thinking of new ways to attack car dealerships, the last thing you need is an unscrupulous vendor who is more interested in making short-term profits than looking after your business long-term viability. Stan Schwarz, CEO and founder of PassTime, is the market leader of starter-interrupt payment protection systems. PassTime has now grown its installed base to over 2000 BHPH dealerships nationwide. He can be reached at 888-547-9017 |




