Take Advantage of the Used Car Market by Offering a Vehicle Recovery Device With Connectivity

These are interesting times for auto dealers. With the vehicle chip shortage still taking its toll on new car inventory around the world, the market for used cars has exploded. Used car dealerships have been enjoying the consistent business and many new car dealerships have started showing pre-owned vehicles in an attempt to keep lots full and customers coming through the door. 

To fully take advantage of used vehicle opportunities, it makes sense to consider customer car purchasing habits. One factor that could deter buyers from purchasing a used vehicle is a lack of high-tech features and connected car technology. In fact, a recent study shows that nearly one-third of prospective car buyers stated that connected car technology was either the primary reason or one of the primary reasons behind their decision to purchase a specific vehicle. Your dealership can easily tackle this issue with the help of some smart tools. In this blog, we’ll show you how your dealership can capitalize on the booming used car market by offering a vehicle recovery device with connected car features. 

The State of the Used Car Market in 2022

The market for used cars saw record highs in 2021, and while 2022 is seeing costs lower slightly, used car prices are still 28% higher than they were this time last year. 

Currently, the average used car is selling for nearly $30,000— a good deal more than some new car models. And because the chip shortage is not expected to resolve until 2023, you can expect used car prices to remain high into the year. 

What Is a Stolen Vehicle Recovery Device? 

A stolen vehicle recovery device is a telematics system that leverages vehicle tracking technology to assist in vehicle recovery. Simply put, these devices use Global Positioning Systems (GPS) technology to locate, track, and recover stolen vehicles. 

These devices use connected car technology to help protect drivers against car theft. Recent studies show that of all the connected car capabilities available to the modern driver, enhanced safety featuresincluding stolen vehicle recovery devicesranked within the top ten most demanded features. 

Consumers want smart safety features, and dealers are leveraging this real-time tracking solution as an added safety feature for those interested in purchasing a vehicle. 

You might be thinking to yourself, this all sounds fine, but what do used cars have to do with stolen vehicle recovery devices? 

Get A Leg Up on the Competition

What the OEMs  don’t want you to know is that their stolen vehicle recovery solutions can’t be implemented on used cars. Dealerships, however, can install a stolen vehicle recovery device into any carregardless of model, make, or mileage.  

If given the opportunity to purchase a used vehicle with or without added safety features, you can bet which option shoppers will go for. 

Utilizing stolen vehicle recovery devices with connected features  in used cars puts your dealership at a significant advantage over the competition, especially at a time when used cars are flying off the lot. 

A Vehicle Recovery Device That Does More

With Elo GPS and CarRx, not only do you and your customer’s benefit from powerful stolen vehicle recovery features and a dedicated team of vehicle recovery specialists, but from additional connected car features. Elo GPS with CarRx uses connected car technology to notify you and your customer of their vehicle’s maintenance needs. The CarRx dashboard allows you to see exactly what type of service the customer needs and send personalized automated or custom marketing messages directly to their smartphone with maintenance reminders or promotions.

Make the most of current market trends by installing the best stolen vehicle recovery and connected car device into your used vehicle fleet. 

Connect with our team to see how best-in-class service and technology can help drive growth for your business.