IRVINE, Calif. –

Spireon recently launched its next generation GPS vehicle tracking and collateral management system (CMS).  The company highlighted GoldStar Lender has proven to help customers increase their loan portfolio performance by up to 20 percent.

The company indicated Spireon’s GoldStar Lender solution can add new features to Spireon’s legacy products for managing and mitigating risk in subprime financing.

Executives stressed the value for auto finance companies in adopting GPS vehicle tracking is proven stemming from the following results based on Spireon customer feedback:

—84 percent of customers report reduced delinquencies after installing Spireon GPS vehicle tracking

—78 percent of Spireon customers have been able to finance customers with lower credit

—68 percent of customers have been able to finance customers with smaller down payments

Additionally, Spireon’s GoldStar Lender provides features to achieve state and federal lending regulatory compliance, including Consumer Financial Protection Bureau regulations.

“The greatest risk in subprime lending is a potential loss of collateral, when the borrower defaults and the lender is unable to recover the vehicle,” said Kristina Lowe, director of product marketing at Spireon.

“Building on the legacy of our groundbreaking auto finance products that we first introduced over 10 years ago, the new GoldStar Lender solution extends our ability to greatly reduce this rising delinquency problem, while also delivering new features and the government regulatory compliance that our customers need,” Lowe went on to say.