A leading provider that helps buy-here, pay-here dealers track their vehicles as defaults and repossessions arise now is getting involved with a firm that’s been providing another way for buyers to generate down-payment funds.
This week, HyreCar, the carsharing marketplace for ridesharing, through its alliance with DriveItAway and its dealer-focused shared mobility mission, announced a strategic partnership with PassTime, a leading provider of GPS solutions. The companies explained this partnership offers advanced vehicle asset tracking and management to dealers and fleet owners who are leveraging Mobility-as a-Service (MaaS) through the HyreCar platform.
HyreCar can offer retailers a tool allowing dealers to enter and learn the MaaS business. This gives dealers the opportunity to profit from the growing need for vehicles of rideshare drivers, while simultaneously giving rideshare drivers a “Path to Ownership” for a vehicle purchase.
DriveItAway’s “Drive for Your Down Payment” program can provide ridesharing drivers the ability to earn a down payment for their vehicle through driving for ridesharing services like Uber and Lyft, through dealer rentals.
“As we see an increasing demand in the ‘Path to Ownership’ program through our partnership with DriveItAway, it became clear that our dealer partners needed access to a more comprehensive MaaS solution with asset tracking and management,” HyreCar chief executive officer Joe Furnari said.
“As one of the leaders in telematics for over 25 years, PassTime was a natural fit to give our dealers the leveraged advantage that they need to maximize opportunities in this space,” Furnari continued.
PassTime has set up a special-order portal for DriveItAway-HyreCar dealers to procure vehicle telematics units and will be integrating all of the PassTime telematics services within its dealer focused vehicle administration platform for easy vehicle specific applications.
“PassTime is excited to enter the emerging shared mobility market through its strategic partnership with DriveItAway and HyreCar,” said Kevin Carr, vice president of financial services at PassTime.
“We look forward to providing dealers with a turnkey solution, leading the way through the application of our telematics innovations,” Carr continued.