By Jennifer Margettes - May 17, 2016
Auto theft! We all think that it can’t happen to us, but the reality couldn’t be further from the truth. According to a recent study done by the FBI, auto theft is on the rise, leaving auto dealerships increasingly vulnerable. Nearly 41% of stolen vehicles are not returned according to this recent statistic and it is thought that the majority of cars that are stolen are in the $15,000 – $20,000 price range, which is leaving you, the Buy Here Pay Here dealership at more risk.
There are a lot of things that you can do to help deter these potential thieves. The first and most important is to have a security system in place as well as safety protocols among your employees to keep the lot and inventory safe. These crimes do not go without harm as some might think. The reality is that when a vehicle is stolen off of your lot, any potential profit margins were too; no insurance company covers the lost profits of a deal, but rather just the cost of the car minus a deductible which maybe over a 1,000 dollars. This could mean that you will be losing money by not protecting yourself and your assets.
A great safety feature that Deal Pack Pro can help with in these situations is getting your GPS units installed on every car as soon as possible and getting those GPS unit numbers saved in Deal Pack Pro upon installation. Another key topic is to make sure your keys are locked up and not within easy grasp of potential thieves. With the rise of smart keys, the cost associated with getting a new key rise with it. With the replacement of one smart key costing anywhere from 250 to 400 dollars doesn’t it make sense to treat these items like gold? In short, the answer is yes. Deal Pack Pro can help you keep track of your keys by allowing you to notate whether or not there are two sets of keys on each unit.
In conclusion, as the risks of owning a used car lot rise do not forget to take the steps to keep you inventory, your profit and your staff safe.
Call 1-800-526-5832 for more information on these and many more features in Deal Pack Pro!
ABCoA is a Software-as-a-Service company dedicated to the subprime industry. Our cloud-native ecosystem handles every part of business operations - improving productivity, security and accuracy, while consolidating vendors and reducing costs.
Since 1983, ABCoA has helped buy here pay here used car dealerships and subprime finance companies eliminate duplication, remain compliant, and achieve success with complete, customer-driven software and dependable support. Customers properly using Deal Pack have never lost an IRS audit.
Recently awarded Top Online Accounting Software for Deal Pack, ABCoA continuously elevates the standard for software in the subprime industry and helps customers grow through our commitment to quality, innovation, and service. Headquartered in Jacksonville, Florida with employees across four states, we remain family-owned and operated.
To learn more about ABCoA, visit www.abcoa.com.
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