Missed a car payment? Good luck starting the car
Thu Apr 3, 2008 8:55PM EDT
See Comments (352)
I've never heard of this trend before, but according to USA
Today, subprime borrowers buying a car are required to have a little box
mounted under the car's dashboard that forces them to make payments on time.
A light on the box flashes when payments are due, and if the payment is not
made on time, the box starts to beep until a four-digit code is punched in to
reset the system. The only way to get this code is by making the payment, and
if that payment is not made on time, the car won't start.
Apparently, customers hate them, while lenders love the little boxes because it lowers default rates. Sekurus, the company who sells these boxes, has sold over 250,000 at $250, and its competitors are looking at ways to make these payment enforcement devices more efficient. One company is selling wireless systems that sends text messages to the car, and another one is adding GPS functionality to the device to make it easy for lenders to repossess the car.
I know times are tough for everyone, but is this really necessary? Before you know it, we'll have these little boxes locking us out the house too. It's just crazy.
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347 Posted by ff2iam on Thu Sep 3, 2009 3:59PM EDT Report Abuse
It's unfortunate that compnaies have to resort to this device just to get a payment from the consumer. Perhaps many of them this device on their own cars and houses as well. For those of you that think this is such a great idea, and pay ALL your BILLS on time (which I doubt) God forbid your EVER get down on your luck and need help...because you will be the first to complain,and sue the manufacturer because your car won't start.
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348 Posted by ironrhino on Thu Sep 3, 2009 4:25PM EDT Report Abuse
When is everyone going to learn that this world, sadly, for the most part, about 99.9% is all about money. Pot would be legal if it was harder to grow and the government could make money off it. These companies, rather have your car not turn on, if you don't pay, as opposed to someone putting a breathalizer in their mouth while driving to make sure they are not intoxicated. When will we be out for the good of us all, rather than being marketed to and sold crap we don't need? I think they should concentrate on stopping people from drinking and driving, before worry about bad debtors...
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349 Posted by cpuwizard9225 on Thu Sep 3, 2009 3:30PM EDT Report Abuse
oh for ----- s sake. All of us poorer 3rd class people are screwed now. btw this all sounds very "Big Brother" to me if you people know what I mean.
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350 Posted by qpidkcid on Thu Sep 3, 2009 8:23PM EDT Report Abuse
Scenario: You have to get your child from school. You parked in the 15 minute spot. You're late on your car payment by a day. They switch off your car. You're stuck at the school. You get towed. Which do you think the car company would rather have you pay first, the tow company or them? Them! Whenever looking for a car, make sure they got a no penalty time frame that you can pay the bill after the due date such as 10 days. And make sure they got late fees after that fact just in case you're struggling to make ends meet. A lot of these comments I read, they don't feel "sorry" for people. But a lot of situations you can't control. You can't control if you get divorced or wind up in the hospital or many other factors. This is why car sellers use credit checks to make sure you have enough to pay per month and see if you're a risk. However, putting stupid little devices on don't help unless you're say, a month late. AND people should be notified in advance so they can make other arrangements to get to places. This is the equivelent of a boot, a retarded boot.
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351 Posted by paisa4thh on Thu Sep 3, 2009 7:48PM EDT Report Abuse
this is the dumbest idea, what if you have an emergency???? i have no problem makig my car payments, but i cant tell the future, what if for some reason im late a couple of days with a payment and my wife is giving birth???
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352 Posted by importer1980 on Thu Sep 3, 2009 4:23PM EDT Report Abuse
First of all, I've never heard of a lender repo-ing a car after one missed payment. What ever happened to the "grace period"? Secondly, this sounds awfully familiar to the breathalizer ignition lock devices that are imposed be the state after too many DWI's. You have to have those recalibrated every month, and if you don't make it to your appointment on time, your car will not start at all. Oh, and not to mention that cutting and splicing into a new car's electrical system voids that part of the warranty. There will always be choices to make when choosing a lender, so personally, I just would choose one that doesn't impose such a device.
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346 Posted by john.pollitt on Thu Sep 3, 2009 4:38PM EDT Report Abuse
All computers can be hacked ! thats a fact , there will be programmers that will defeat the black box ..... probably the ones that designed the program in the first place ,,mind you it will cost you .. we are a capitalist society ....other than that hot wire your car ..