More and more companies are looking to install vehicle tracking; unfortunately a few things have changed in recent months as a result of economic conditions. There are lenders reluctant to loan the money for vehicle tracking. Furthermore, companies leasing the tracking systems are finding it difficult as the providers are becoming stricter regarding who they will lease their systems to.
Vehicle tracking devices provide you with many benefits to help reduce operational expenses and increase your productivity. According to research, sales in 2008 increased despite the economic troubles and even with the difficulties of obtaining a lease. Experts stated the reason for this increase was partly based on the economic issues. Fleets want to be able to benefit from lower operational costs and they also felt crime rates might increase. In other words they felt the protection the additional security offered on the vehicle would help reduce issues with theft.
There are a few different hardware and software programmes which means the airtime costs will also vary. As a result of the various systems a lease basis is often the best way to go. The company is not responsible for paying out a huge sum of money at the beginning and they can sign a lease contract they are comfortable with. A lease basis means no deposit and the payments are wrapped in the monthly payment.
Since it is an ongoing lease providers of the devices run credit checks. The fleet business must pass the check in order to lease the equipment. If you have a healthy business you may not see as much issues as a struggling business in obtaining the vehicle tracking. However, to a degree there has been struggle all around.
You have a couple of options when it comes to getting the vehicle tracking. You can use self financing. This method is using the business cash to purchase the system, with a 20 to 30 percent upfront payment. If you have the revenue this is usually the best way to go.
If you need a bank or other type of lender to help out then you might have to go with the pay as you go option. This is where you pay 100 pounds per vehicle and then 20 pounds per vehicle per month. So there is an initial set up fee per vehicle and then a monthly cost per vehicle.
The last option is actually leasing vehicles that already have the system installed. If all you are worried about is theft you can lease vehicles from a dealership that has the GPS vehicle tracking installed. The company leasing the vehicle doesn’t want it stolen so they will have GPS installed; however, they do charge a small fee to have the tracking system turned on. You can make arrangements with this type of contract that benefits you. The downside is the dealership is not going to help with your operational costs. They will not monitor for anything but theft, so fuel savings, etc. cannot be found.