With car buyers demanding a shorter dealership sales process, salespeople don’t have time to search for vehicle keys when prospects want to test drive a car.
Attaching lockboxes containing vehicle keys to the side of each vehicle appears to be a perfect solution: The key isn’t out in the open on a pegboard, and it’s kept close to the vehicle, eliminating the hassle of matching the key to the vehicle.
The problem is, while this solution is convenient for salespeople, it also makes it easier for thieves to steal vehicles. The thief simply has to smash the lockbox open to remove the key and drive off in the vehicle.
The Cost of Lockbox Break-ins
There have been several reported cases of lockbox-related thefts, and the costs are steep. One dealership in Florida experienced $130,000 in losses after thieves smashed open lockboxes and used the keys to steal several vehicles. Surveillance footage shows that thieves only had to hit the lockboxes against the ground two or three times before they came apart.
Another Florida dealership had its lockboxes targeted twice in the span of a few months. The first time it happened, the thief was caught in the act, and local authorities recommended that the dealership stop using lockboxes. However, the lockboxes remained, and the second time they were targeted, thieves made off with four luxury vehicles.
In Connecticut, a dealership suffered $200,000 in losses after thieves took advantage of vehicle lockboxes to steal five cars. The dealership wasn't aware the cars had been stolen until they were discovered abandoned around Yonkers and Bronx, NY.
If you decide that the risks of lockboxes outweigh the convenience, there is a better way.
A More Secure Alternative to Lockboxes
Storing keys with a vehicle, whether in the ignition or in a lockbox, is an unsafe and unreliable method of key control. To keep keys secure, they must be kept inside the dealership, ideally inside an electronic key control system placed behind locked doors. If a key isn't returned on time, the system can sound an audible alarm and send a text message or email notification, allowing you to immediately track down the key so salespeople won't waste time looking for it when they need it.
Convenience is important, but it must be balanced with security. Are you doing enough to secure your dealership's assets?