DALLAS and MONTREAL — Vehicle Acceptance Corp., a buy-here, pay-here dealership payment stream lender, recently expanded its relationship with iMETRIK Automotive Solutions by joining the company's recently launched Pay Share program. 

Executives explained Pay Share can allow a dealer to obtain a full featured GPS payment device, including starter interrupt, payment reminder and integrated back up battery for a one-time $39 stocking fee. The program then costs $10 per month for 16 months or until the receivable is sold to one of the program's partners. 

Management from iMETRIK contends that Pay Share can help Vehicle Acceptance better serve dealers that are in need of financing and collections services. Using iMETRIK's technology, iMETRIK executives believe Vehicle Acceptance can provide dealers with the tools required to maximize portfolio performance in a cost-effective manner.

Furthermore, iMETRIK said it believes Pay Share is ideally suited to the BHPH model where the dealers or the lender pay for the device as they book the retail installment contract.

"iMETRIK's Pay Share program is a very attractive way for the buy-here, pay-here dealer to get iMETRIK devices in all of their vehicles at a great price point," stated Jonathan Neubauer, chief executive officer of Vehicle Acceptance.

"As we look to expand our cash and service solutions to more BHPH dealers, this program helps us place one of the best technology values in the market in many more vehicles, and at the same time hold down the expenses associated with devices for our dealers," Neubauer continued. "It's a great deal for everyone."

Added Guy Chevrette, who is the president of iMETRIK, "Because dealers typically arrange for a payment stream at the point of sale, the addition of VAC to the Pay Share program means that many dealers will be able to step into our best technology and only pay the $39 stocking fee.

"Once the dealer sets up the payment stream, they simply transfer the device to VAC and the payment by the dealer goes away," Chevrette went on to note.

BHPH dealers and subprime lenders can sign up for the new program at www.imetrik.com/payshare or by calling (866) 276-5382.