What else does your collector go over at !st meeting?
We began using GPS devices 1/1/2009 (Enfotrace). Now that we have 2 years under our belts, we have seen significant improvement in delinquency percentage as well as post repo collateral value.
Getting a vehicle back quickly after an account becomes delinquent allows for a much higher percentage of customers reclaiming these vehicles. Also, since we have GPS we have been able to negotiate a significant price break from our repossession company for recovering these units.
Another fun trick is to locate a customer's vehicle when they are delinquent and use that information to help collect. (ie- if customer car is at his mother's house and mom is one of his references, we just call mom immediately) A little sneaky, but it really hits home for a customer when you make a reference call and the customer is there.