When an account goes bad, you should not have to go looking for the car.
Traknova gives consumer motor finance lenders live location and mileage on funded vehicles, taken directly from the vehicle. Recoveries stop working from a last known address, asset values stop being a guess, and accounts in difficulty surface earlier.
Odometer
Location
Battery
Status
The asset is only worth what you can find.
An agreement goes into arrears. Contact stops. You send an agent to the address on file and the vehicle is not there. You send another. The account ages, the recovery cost climbs, and the vehicle depreciates the whole time. By the time you locate it, if you locate it, the gap between what you are owed and what the asset makes has widened again.
Everything about that process is expensive and slow, and none of it is caused by a lack of effort. It is caused by working from information the customer supplied, sometimes years ago.
Your record says: an address from the point of sale.
Your agent finds: whatever is there today.
Traknova shows: where the vehicle actually is.
Three things you currently ask the customer for.
Live location
Where the funded vehicle is, with a timestamp. Send an agent to a place the vehicle is, not to the last address you were given.
Live mileage
Real odometer readings. Value the asset on what it has actually done, not on an assumption, and see when a vehicle's usage changes sharply.
Ignition and usage status
See whether a funded vehicle is being driven, sitting unused, or has not moved in weeks. A car that has stopped moving on an account that has stopped paying tells you something worth acting on.
Data availability varies by manufacturer, model year and whether the vehicle's connected services are active. We run your actual VINs and show you the real coverage before you commit.
This page covers vehicles financed to individual customers. If you fund dealer stock instead, see our vehicle stock audit page.
Fewer wasted attendances. Shorter recovery cycles.
The largest avoidable cost in a recovery is the attendance that finds nothing. Every agent visit to an address where the vehicle is not present is a fee paid for no result, and it pushes the whole cycle out by days or weeks.
Location data does not change your legal process and it does not change your obligations to the customer. It changes the hit rate. Your agent goes once, to somewhere the vehicle is, and the account resolves faster and for less.
Locate before you instruct
Confirm the vehicle's position before an agent is instructed, rather than paying to find out.
Prioritise by recoverability
Work the accounts where the asset is visible and reachable first, instead of treating every case the same.
Value on real mileage
Know what the vehicle has done before it comes back, so the shortfall position is understood rather than discovered.
The signals that arrive before the arrears do.
A vehicle that stops being used, moves a long way from its registered area, or starts accumulating unusual mileage is telling you something before the first missed payment lands. Traknova surfaces those changes so your team can reach out early, which is better for the customer and cheaper for you than acting once an account is already several months down.
Early contact is not just a cost saving. Identifying customers who may be struggling and engaging with them sooner sits squarely inside what the FCA expects of firms under the Consumer Duty.
UK Vehicle Purchase 2005
33%
of vehicles purchased on finance
UK Vehicle Purchase 2025
90%
of vehicles purchased on finance
The FCA's motor finance review has made clear that the regulatory expectation on lenders is moving in one direction. Greater scrutiny. Greater accountability. Greater pressure to demonstrate that funded accounts are being properly monitored throughout the finance period.
This only works if the consent position is right.
The borrower here is a private individual, so accessing data from their vehicle requires a lawful basis and, in most cases, their informed consent. That is a higher bar than it is on funded dealer stock, and it should be.
The workable answer is to establish it in the finance agreement at the point of sale, with clear wording about what data is accessed, when, and why. Traknova helps you get that in place before you switch anything on, and we will work through it with your legal and compliance teams rather than leaving you to interpret it.
We would rather spend two weeks getting this right than have you switch it on and find out later that you cannot use it.
Live in days. Nothing fitted to any vehicle.
01
Send us a sample of your book
VINs or registration numbers from live agreements.
02
We run coverage
You get a report showing which vehicles report data and which fields come back, before you commit to anything.
03
Roll out with the consent position agreed
Once the lawful basis is in place, agreements appear in the dashboard with location, mileage and usage status. No hardware, no customer involvement, no vehicle downtime.
Vehicle finance questions
Let's Talk
If any of this reflects what you are dealing with, I would like to hear about it.
Timi A
Founder, Traknova
I am the founder of Traknova. We have spent the last year speaking with vehicle finance companies and asset pricing platforms to understand exactly where the visibility gap sits and what it costs.
If you are responsible for funded asset risk at a lender or finance company, I would like a 20-minute conversation — not to pitch you, but to understand whether what we have built is relevant to your specific situation.
No pitch, just a direct conversation about your funded portfolio.
Book a 20-Minute Call →Check which vehicles in your portfolio already support digital tracking
Our free Digital Tracking Checker tells you which funded assets have built-in connectivity — no hardware, no site visit required.
Send us 100 live agreements. We will tell you what you can see.
No cost, no commitment. Pick 100 agreements off your book and we will return a coverage report showing which vehicles report location and mileage, and what that data looks like. Then we work through the consent position before anything goes live.
Book Your Free Demo →