Finance companies use remote engine immobilisers to recover assets.
TrackN supplies our RE147 Remote Immobilisers to large number of finance companies wanting to protect their assets and reduce the risk of loan defaults. These devices allow lenders to remotely disable a asset if a borrower fails to make payments, encouraging timely repayment. In cases of repossession, immobilisers make it easier to locate and recover the vehicle, preventing unauthorised movement. They also help deter fraud by stopping individuals who take out loans with no intention of repaying. Additionally, immobilisers can lower insurance costs since they reduce the risk of theft. By implementing this technology, finance companies improve borrower accountability and safeguard their investments while ensuring that vehicles remain secure.
A remote engine immobiliser is a useful tool for finance companies that offer vehicle loans or leases. Here’s why they use it:
1. Reduces Risk of Loan Default
If a borrower stops making payments, the finance company can remotely disable the vehicle, encouraging the borrower to resume payments.
2. Aids in Vehicle Recovery
In cases of repossession, an immobilises makes it easier to recover the vehicle by preventing unauthorised movement.
3. Deters Fraud
Some customers might take out a loan with no intention of repaying it. Immobilisers help prevent them from disappearing with the vehicle.
4. Lowers Insurance Costs
Vehicles with immobilisers are less likely to be stolen, leading to lower insurance premiums, benefiting both the lender and the borrower.
5. Improves Borrower Accountability
Knowing the vehicle can be disabled remotely encourages borrowers to stay up to date with payments.
Would you like details on how these systems work or their legal considerations?
