RDN provides lenders and dealers with instant data for quicker repossession
For Immediate Release
Redwood City, Calif. and Phoenix — April 15, 2014 – Recovery Database Network (RDN) and Inilex, a leading national provider of vehicle telematics solutions, today announced they have successfully integrated Inilex’s GPS-based vehicle location information into RDN’s vehicle repossession management software, giving used-car dealers instant access to vehicle location information. This is especially beneficial to special finance lenders and large-scale Buy Here Pay Here (BHPH) dealers that must engage in repossessions with regular frequency and need an efficient and affordable way to manage the process.
Using the integrated technology, repossession agents who are part of the RDN network can quickly research a vehicle’s last location, giving them valuable time-saving information in conducting their repossession work. RDN and Inilex have made the service available to all dealers nationwide who engage with professional repossession services. To date, DriveTime, one of the nation’s largest BHPH dealerships, has already incorporated the RDN-Inilex solution into its loss mitigation strategy.
“A seamless way to view a vehicle’s location online is critical to repossession agents who often spend hours or even days tracking a vehicle,” said Zach Hallowell, COO of RDN. “This new technology provides our customers with an accurate and simplified way to conduct their business.”
“Many dealerships and lenders provide special financing for at-risk customers, and the reality is that repossession must be part of their business strategies,” added Michael Maledon, president and CEO of Inilex. “GPS tracking is one of the most significant ways dealers of all kinds can take costs out of their businesses. By integrating GPS technology into repossessions, vehicle management, inventory and back-office functions, dealers and lenders can run their businesses more efficiently.”
For more information about RDN’s integration of GPS-based vehicle tracking data, please contact RDN at 817-204-0298, select option #2. To learn more about Inilex and its solutions for new and used car dealers, please visit inilex.com.