How Can Car Trackers Pay For Themselves?
Car trackers are investments in security which can cost anywhere from fifty to hundreds of pounds to buy and have installed. For insurance approved systems, there then needs be an added commitment of paying for live monitoring via staffed 24/7 Control Rooms.
Given that there is financial outlay involved in protecting your car with a GPS tracker, are there any benefits aside from security that will help offset the initial cost of installing them?
Stolen Vehicle Recovery
One of the primary benefits of car trackers is their ability to help recover stolen vehicles. When a car equipped with a tracker is stolen, the tracking device allows law enforcement authorities and specialist repatriation teams to find and recover the vehicle quickly. By reducing the time it takes to retrieve a stolen vehicle, car trackers can potentially save insurance companies and car owners significant amounts of money in total loss payouts and insurance policy excess payments. The quicker the recovery, the less time thieves are given to cause damage to the vehicle and the more likely the owner will get their car back in one piece.
Insurance Discounts
Many insurance companies offer discounts to customers who install Thatcham Certified car trackers. These discounts can help offset the cost of buying and maintaining the tracking device. By reducing the risk of theft and increasing the chances of recovery to over 96%, car trackers make vehicles less of an insurance liability, resulting in lower premiums.
Fleet Management Efficiency
Car trackers are commonly used in fleet management systems to monitor and optimise the performance of vehicles. They provide real-time data on factors such as location, speed, fuel consumption, and driver behaviour. By analysing this information, businesses can find inefficiencies, reduce fuel costs, improve routing, and enhance overall fleet management. These improvements can lead to cost savings and increased productivity, ultimately paying for the trackers.
Reduced Operational Costs
Car trackers can help businesses save money by reducing operational costs. They enable more accurate mileage tracking, which helps with maintenance scheduling and warranty compliance. Tracking devices also provide insights into driver behaviour, such as excessive idling, harsh braking, and speeding, allowing businesses to implement measures to reduce fuel consumption and maintenance expenses.
Improved Customer Service
Car trackers can enhance customer service by providing accurate and real-time information about vehicle location and estimated arrival times. This enables businesses to offer more precise and efficient delivery or service scheduling, resulting in increased customer satisfaction and loyalty.
Increased Resale Value
Vehicles equipped with car trackers may have higher resale value because potential buyers perceive them as more secure and less prone to theft. The fact that the car already has a tracker installed also means that the new owner will not need to buy a new one themselves, saving them time and money. These factors can help offset the initial investment in the tracking device when the time comes to sell the vehicle.
It's important to note that the specific financial benefits of car trackers can vary depending on factors such as the type of tracker, the insurance provider, the industry, and individual usage patterns. Conducting further, more thorough research and considering your specific needs and circumstances will help determine how car trackers can pay for themselves in your own personal situation.
