Advanced Impound Lot Feature

Advantage GPS Unveils Advanced Impound Lot Management Feature for Used Car Dealers, Finance Companies

New Geofencing, Search, and Community Collaboration Tools Streamline Real-Time Impound Management

IRVINE, Calif. — (October 29, 2024) – Advantage GPS, a leader in advanced GPS technology and data analytics for the used car industry, today announced a major enhancement to its impound lot management system. The upgrade introduces new capabilities for vehicle finance professionals, including the ability to search a comprehensive, nationwide database of impound lots and contribute real-time information, transforming impound lot management into a more powerful and collaborative tool.

The update enables customers to easily search a comprehensive, nationwide database of impound lots, set up personalized alerts, and contribute real-time data to keep the system accurate and up to date. These new tools help lenders minimize recovery times and reduce costly impound fees.

Key Enhancements Include:

• Geofencing and Advanced Search: Customers can now search impound lots by geographic location and add them to their alert system, receiving instant notifications when a financed vehicle enters one of these lots for faster recovery.
• Community-Powered Contributions: Customers can add new impound lot locations to the database, ensuring it remains accurate and reliable through collective industry input.
• Custom Alerts: Personalized alerts allow users to act quickly when a vehicle is impounded, reducing delays and minimizing escalating storage fees.

Brian Tate, Director of Product Management at Advantage GPS, said, “By combining real-time data, searchable maps, and community contributions, we’ve created a dynamic tool that gives customers the control and insights they need to minimize financial losses associated with impound lot fees.”

Tackling the Impound Fee Crisis

Impound fees in the U.S. surpassed $1.1 billion annually, with approximately 76,000 vehicles impounded daily. Many remain stuck in lots, accruing huge storage fees contributing to more than $3 million daily costs.

Community-Driven Innovation
This enhancement taps into the power of community collaboration. By harnessing the collective knowledge of the industry, we’re ensuring our tool remains accurate and up to date, providing customers with the most reliable information for efficient vehicle recovery. “Our users are not just customers—they are collaborators, helping improve the platform for everyone,” added Tate.

For more information about Advantage GPS and how it can help your dealership streamline impound recovery, reduce fees, and boost profits, visit AdvantageGPS.com or contact:

Media Contact

Corinna Tutor
Vice President, Marketing
Advantage GPS
Email: ctutor@advantagegps.com
Phone: 949-422-7103

About Advantage GPS
Advantage GPS is a leading provider of GPS technology and telematics solutions for the used car industry, specializing in risk mitigation tools for loan defaults and delinquencies. Serving over 4,000 dealers across North America, the company manages 5 million monthly vehicle connections. Advantage GPS is dedicated to delivering innovative solutions that protect dealer assets, enhance profitability, and advance the success of the used car market.