ERM’s patented Parking Habits solution was designed to provide business advantage to ERM’s partners who offer Stolen Vehicle Recovery (SVR) services, and to assist them in locating and retrieving stolen vehicles, for which the customers have stopped paying, mostly in BHPH (Buy Here Pay Here) operations. This solution operates even where the tracking device was removed or blocked.
The Parking Habits patented solution monitors and analyses drivers' parking habits by building a representative model that shows the locations of parking during the period it’s monitored. The model is based on parking during the day, week, month, and year and emphasizes the frequency the vehicle was parked in each of the locations.
Automobile dealerships working in the BHPH (Buy Here Pay Here) car financing method sell vehicles to customers who sometimes fail to meet the payments for the vehicle/car. The dealership that sold the car can use the Parking Habit solution to predict where the car will be parked at any particular time and day and to send a repossession crew to retrieve it.
The patented Parking Habits solution can help predict financial problems of the customer, which can result in payment delays or even payments being stopped, before they even occur. The car financing company or dealership will be able to receive alerts about drivers that changed their parking habits in a way that might requires the company’s attention.
* The Parking Habits solution is a combination of hardware and software applications, which might require some development in the partner’s platform.