Almost, in some cases. There is a cost for every GPS coordinate transmitted for live tracking systems. The more frequent the tracking device reports to the portal, the more expensive the monthly subscription service can be. In reality outside of the sales world of "tell you want to hear" there is a latency between the GPS unit reporting its location to the satellite and then having to transmit that data via satellite or cellular transmission based on signal strength and availability. Realistically, the most granular reporting you can expect is approximately 20-30 seconds to an industry standard of 2 minutes.
Some systems log GPS data based on driving behavior, not a set time interval. This tends to provide a higher resolution of the actual vehicle path traveled but at the standard market rate. This service is very affordable when this level of resolution is chosen.