Wialon, a telematics and IoT platform with over 3.4 million vehicles and other assets connected across the globe, has launched LeaseControl, a streamlined version of its platform, tailored for the burgeoning vehicle lease market.
LeaseControl is a GPS tracking solution for covering safety challenges and protecting the assets of the companies operating in car financing, auto loans, vehicle leasing, high-risk auto deals, and BHPH (Buy Here Pay Here) dealerships.
LeaseControl gives access to a growing market of car auto lending. The number of vehicles leased on the global car after sales market grew from eight million to twelve million cars a year, between 2019 and 2021.
The car auto lending market has its unique challenges for auto dealers. They face risks from payment defaults, theft, and poor performance of no-name tracking software providers. Telematics provide the perfect solution to protect financed assets at low costs.
With Wialon’s LeaseControl, users only pay for the functionality that is relevant and useful for vehicle lease management, making the technology affordable and enabling auto dealers to keep assets under control 24/7, on the lot and after the lease.
The solution retains the most valuable features from Wialon, providing the tools to tackle the most pressing challenges faced by dealerships, namely non-payment, auto theft and vehicle recovery.
Via GPS tracking, LeaseControl enables dealers to know the precise location of their vehicles at all times. Remote operation enables them to switch off the car engine remotely if necessary. Disabling the engine remotely may be necessary to protect the asset should a payment be outstanding, or the vehicle leave a pre-determined geo-fenced area, such as crossing an international border, or the tracking device being disconnected. These tools put dealers back in control of their assets, making recovery, should it be needed, much easier and cheaper.
Aliaksandr Kuushynau, Head of Wialon at Gurtam, said, “LeaseControl will open up a whole new market for telematics service providers, as they will be able to provide a simple high-tech solution at a competitive price.”
LeaseControl is a stand-alone product by Gurtam based on the technology behind its Wialon IoT and telematics platform. Service providers can use the solution even if they are not Wialon partners or their clients use alternative GPS location systems.
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