Minorplanet On The Road To Recovery

Widespread fears that Minorplanet would collapse are starting to ease with Minorplanet share prices rallying this month. The refinancing package seems to have restored confidence in the vehicle tracking company bringing peace of mind to their customers and finance providers.

The damage that has been done to Minorplanets reputation and their customers confidence is yet to be seen, however most tracking industry experts and Minorplanet competitors agree their survival was crucial for the vehicle tracking industries reputation and good health.

With some vehicle tracking companies reporting record profits and others on the brink of collapse how can buyers be sure they are choosing a tracking supplier that will be around for years to come? One way is to choose a large and well established company and do your own due diligence thoroughly inspect the company’s historical performance and current position.

However the difficulties Minorplanet faced and the demise of major players such as Global Live and Eagle I have shown that even the largest and most successful companies can run in to trouble. So if avoiding smaller and less well established vehicle tracking companies is not the answer, what is?

A new approach is to use a payment method which limits your risk. Should a vehicle tracking provider demise the customers that are worst hit are those that not only lose their tracking system but then have to continue paying the lease company for duration of the contract.

Many companies now offer Pay As You Go payment schemes which although require an upfront payment to purchase the hardware and installation, do significantly reduce the risk to the customer. This is because you pay on a month by month basis and do not use a loan / lease to purchase the system.