GPS tracking solutions provider PassTime finalized a strategic partnership on Tuesday with Customized Dealer Financial Solutions (CDFS), which can provide underwriting predictive modeling and analytics to buy-here, pay-here dealerships to help reduce their repossessions and improve their profitability and cash flow.

The companies highlighted the partnership will focus on cross marketing and promotion to benefit both firms’ current and potential customers.

PassTime has been in business for nearly 25 years and offers wireless GPS telematics products that are available for multiple sectors of the automotive industry including dealers, auto finance companies, auto leasing companies, insurance companies and fleet transportation providers. 

CDFS offers customers underwriting predictive modeling (UPM) through artificial intelligence, rather than the industry’s traditional scoring. The UPMs utilize the dealership’s own data, as opposed to generic industry data, to reduce repossessions — especially the quick ones — without reducing sales volume.

CDFS’ analytics can help dealerships manage each facet of the business, with an emphasis on significantly improving profit and cash flow.

“We are excited about the CDFS relationship,” PassTime chief operating officer Chris Macheca said. “It is an impressive program that our customers can really benefit from.”

“PassTime makes it a point to partner with industry leaders and companies that offer innovative and valuable solutions — I think CDFS fits in perfectly,” Macheca continued.

CDFS president Ted Lange added, “CDFS looks forward to providing tangible benefits to PassTime’s customers in the form of improved loan performance, increased profitability and stronger cash flow. CDFS formulates UPMs based on a dealership’s own data and quantifies these benefits at CDFS’ cost before the dealership decides whether it wishes to enroll in a month-to-month relationship.

“Dealerships benefit additionally from a legal opinion by the leading consumer credit compliance authority, Hudson Cook, that the UPMs are compliant with the CFPB’s interpretation of applicable laws and regulations,” Lange went on to say.

For more information about CDFS or PassTime, call (800) 828-1564 or email info@passtimegps.com.