Everyone has felt the impact of the COVID-19 pandemic, and DRN is no different. We had to shift gears quickly to adjust to changes in the industry, including:
- Fewer cars on the road due to stay-at-home orders and business/school closures (meaning fewer vehicle scans);
- Lenders deferring payments and repossessions by 90+ days, and legislation requiring this in some states; and
- Other financial changes brought on by the broader economic downturn during the pandemic.
Despite our own challenges, we’ve been working hard to keep our services and data moving for our customers, even if it was at our own expense in the midst of lighter demand for vehicle scan data. We’ve continued to support our Affiliate network by deferring payments, creating payment plans and deeply discounting hardware. We also implemented a Pay to Scan program, which meant Affiliates could continue scanning – and getting paid – to help us keep our historical data up to date. And finally, we’re staying up to speed on government actions that could continue to impact our Affiliates and supporting our trade associations as they lobby on behalf of the vehicle repossession and finance industries.
From financial support, to advocacy, to creating programs for our Affiliate network to help them continue working and earning, DRN is sensitive to our partners and to doing everything we can to help them – and our entire industry – move toward recovery.