Pay As You Go Finance Schemes |
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TrackCompare,
April 3, 2010 Vehicle Tracking |
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Created to overcome the problems in financing vehicle tracking sales in 2009, the Pay As You Go payment option is now firmly established and is many customers preferred method of payment.
Pay As You Go does not require credit checks and is available to any company regardless of trading history and age, it usually requires an upfront payment for the hardware and installation, followed by monthly payments for the tracking service.
Since its introduction Pay As You Go has received a great deal of publicity and has enabled many businesses to introduce tracking systems to their fleets that would not otherwise have been able to obtain finance. It has also given companies the confidence and flexibility to invest in tracking, Pay As You Go has no long term contract and if the supplier fails you don’t pay.
But like with most business contracts flexibility comes at a price. Pay As You Go schemes typically cost more than other purchase methods, particularly over longer terms. They require an upfront payment for every vehicle and not all companies offer Pay As You Go schemes so choice and features can be limited. Some companies also provide less favourable warranty terms for systems bought using a Pay As You Go scheme.
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