GPS Trackers are highly efficient in tracking the location and generating route maps for vehicles. They rely on GPS technology which pinpoints the accurate location using signals from the GPS satellites orbiting the earth. With signals from at least 4 satellites, a GPS Tracker can measure its location and transmit that data to you. However, as the number of satellites increases, the accuracy of location also increases. You can read more about this and how a GPS Tracker works in one of our previous blogs here.
Now when it comes to running a rental car business, there are several instances where you can take advantage of GPS Trackers to boost efficiency and increase profit margins. We’ll look at each of these instances, or use-cases, in the following segments.
All businesses thrive on data. The more you have, the better you can make decisions that enhance the chance of success. When running a rental car business, where the bulk of your business comes from, where your cars are being assigned to, and which routes they are taking, all matter. You can use these data to choose which cars to give out, which to retain, what maintenance they need, what kind of use they went through, etc. This brings us to the first major advantage of using a GPS Tracker for your rental car business.
Data, data, and data.
If you were to place a GPS Tracker in each of your cars, you can easily gather all this data with utmost precision. You can see where your cars are being used if they are moving or not, which roads they are travelling, what time they were on the road, etc. you can use these data points to make more informed decisions to better serve your customers and make your business more efficient by eliminating unwanted wastages.
One of the major expenses of the rental car business is the upkeep and maintenance of the vehicles. You must ensure your cars are in good condition in order to attract more customers and keep them satisfied. A GPS Tracker in the car can show you how far the car has travelled, which roads it took, and during what time. This can help you decide when it’s time to service the vehicle and change oil and clean filters. You can also make sure your car doesn’t go through treacherous terrains that will seriously affect the health of your car. Rough usage, fast driving, etc. can also cause cars to depreciate and hence diminish the value for your business. GPS Trackers can’t prevent that from happening but can surely let you know when it happens.
Security and safety
When running a business, especially when it depends on assets like vehicles that you hand out to strangers, their safety and security are paramount. So, if you can ensure that for all your vehicles, you should. GPS Trackers lets you keep track of each of your cars and in case of theft or if any of them went missing on a trip, you can easily find them with the help of the authorities and thereby ensuring the safety of the passengers and your valuable assets.