NAVICOM GPS Locator Sales Division to Be Established by Automotive Capital Group, Inc.
The Assets of Navicom, Inc. Are to Be Acquired With Its 1,000 Units in the Field and 98% Coverage of US, Mexico, and Canada
SCOTTSDALE, Ariz., July 21 -- Automotive Capital Group, Inc. has announced the launch of its GPS locator division, NAVICOM GPS, with the goal to become the market leader of wireless security/anti theft solutions using Global Positioning System (GPS) technology for automobile, motorcycle, motor-home, and trucking companies.
Navicom GPS will offer finance companies with its asset collateral monitoring devices for the $25 billion dollar sub-prime automobile market. These solutions include automobile tracking, auto disable/enable capability through Internet, and point and click auto repossession. The company's website is www.NOWGPS.com.
Navicom GPS will offer GPS devices with range that will compete favorably with competitors in this market. Navicom's system reaches 98% of the US, Mexico, and Canada. Unlike competitors, Navicom is accessed through the Internet to view a vehicle's location, speed, direction, reports, perimeter notification, and disable/enable the car starter.
Navicom: Positioned to Take on Competition
Competitors may have a bigger market share but Navicom believes their technology, operating system, and range are much superior. Competitor's products work in limited states and only function near major metro markets. A locator system is worthless for stolen vehicles if the system does not reach the vehicle's location. Most of the competition also requires a police report before accessing the location of the car. Navicom is a point and click technology through the Internet. If you can access your email, you can use Navicom.
Navicom is the Sub-Prime Finance Solution
Sub-prime finance companies or buy-here pay-here auto lots can substantially reduce the risk of loss in lending against an automobile. Navicom allows lenders to be proactive with late payments. The Navicom system allows lenders to disable the car from starting if payments are past due and re-enable once payment is made. It is as simple as point and click to turn an auto on and off. Repossession is now easy and in most cases profitable. The vehicle can be located and the starter disabled as the repo truck is in route to pick it up. In most cases, users of Navicom charge their clients a reinstatement fee and put the vehicle back on their lot for resale. Navicom believes that every car financed by a sub-prime lender needs the system.
Case in Point
There was an SUV leased from a dealer using the Navicom system. The client paid on time for 12-months then disappeared. Navicom was able to locate the SUV in a parking lot. The vehicle's licenses plate and VIN number had been altered but Navicom was accessed again and told to unlock the doors. Despite the deception, the recovery was no challenge for Navicom.
Navicom Costs
Navicom can be purchased at www.NOWGPS.com. The unit can be purchased for $299.00 or $19.99 per month with a 3-year lease.
Automotive Capital Group has signed a letter of intent to purchase Navicom and is expected to close in the next 30-days.
About the company
Automotive Capital Group, Inc. (Pink Sheets: AOCP) was established in 2004 as a publicly traded automotive holding company seeking investment opportunities in all aspects of the automotive retailing business.
1. Auto Capital Group (www.AutoCapitalGroup.com) will finance individuals as well as auto sales companies to provide specialty loans on automobiles with interest rates from 29.9% to 35%. AOCP now also has the ability to provide auto insurance to bind the auto coverage of the purchaser at the same time the auto loan and sale of the car occurs. This service is needed by car dealers for qualified buyers who do not have auto insurance at the time of the sale so that the sale is not lost and the customer can drive off the lot without having to wait to bind auto insurance coverage. 2. Title Loans (www.TitleLoanHelp.com), a fast growing, new market that has recently sprung up in the past couple years. This division is looking to provide loans against paid in full autos and refinance current title loans at a discounted interest rate of 35%. TitleLoanHelp.com was created to offer buyouts of current title loans at 1/4 of the current rates. This division can be marketed to both individuals and the actual title loan companies that are looking to sell loan paper. Typical title loans are 295% per year compared to AOCP at 35%. 3. Premium Finance, our company has launched an aggressive program for Auto Premium Financing. AOCP is fortunate to have formed a business relationship with a large insurance agency that will direct most of its commercial insurance business to our premium finance company.