"The addition of VAC to the Pay Share program means that many BHPH dealers will be able to step into our best technology and only pay $39” said Guy Chevrette, President of iMETRIK
Dallas/Montreal (PRWEB) February 17, 2011
Vehicle Acceptance Corporation (VAC), one of the nation’s leading Buy-Here-Pay-Here payment stream lenders, is expanding its relationship with iMETRIK Automotive Solutions by joining the company’s recently launched “Pay Share” program.
Pay Share allows a dealer to obtain a full featured GPS payment device including starter interrupt, payment reminder and integrated back up battery for a one-time $39 stocking fee and then $10 a month fee for 16 months, or until the receivable is sold to one of the program’s lending partners.
“Because dealers typically arrange for a payment stream at the point of sale, the addition of VAC to the Pay Share program means that many dealers will be able to step into our best technology and only pay the $39 stocking fee” said Guy Chevrette, President of iMETRIK. “Once the dealer sets up the payment stream, they simply transfer the device to VAC and the payment by the dealer goes away”.
Pay Share will help Vehicle Acceptance better serve dealers across the country that are in need of financing and collections services. Using iMETRIK’s technology, VAC will provide their dealers with the tools required to maximize portfolio performance in a very cost effective manner. Pay Share is ideally suited to the BHPH model where the dealers or the lender pay for the device as they book the Retail Installment Contract.
“iMETRIK’s ‘Pay Share’ program is a very attractive way for the Buy-Here-Pay-Here dealer to get iMETRIK devices in all of their vehicles at a great price point,” said Jonathan Neubauer, CEO of VAC. “As we look to expand our cash and service solutions to more BHPH dealers, this program helps us place one of the best technology values in the market in many more vehicles, and at the same time hold down the expenses associated with devices for our dealers; it’s a great deal for everyone.”
BHPH dealers and subprime lenders can sign up for the new program at http://www.imetrik.com/payshare or by calling 1-866-276-5382.
About iMETRIK Automotive Solutions Inc:
iMETRIK Automotive is a global leader in machine-to-machine (M2M) embedded wireless solutions that enables companies to reduce costs and increase control of remote assets. The company designs and manufactures compact devices with more processing power and faster wireless connectivity. Customers access the company's solutions through Internet-based web applications and reports using an open standard architecture. This architecture easily integrates customer information systems to allow ease of usage and instant data access. The company acts as a wireless carrier or mobile virtual network operator (MVNO) to complete its end-to-end quality delivery model. The company is consistently recognized, year over year, as one of the top 100 machine-to-machine (M2M) technology providers of importance and influence by Connected World magazine. For more information, visit http://www.imetrik.com.
About Vehicle Acceptance Corporation
Vehicle Acceptance Corporation offers Cash and Service Solutions for the Buy-Here-Pay-Here dealer. VAC is a sub-prime automobile finance industry leader that has helped dealers create profitable portfolios since 1989. Headquartered in Dallas, Texas, VAC has 5 offices offering Note Servicing and Cash Advances to used car dealers nationwide. Please visit http://www.VACorp.com for more information.
Vehicle Acceptance Corporation Press Release Contact:
Allan Couch, National Sales Director
Vehicle Acceptance Corporation