Missed a car payment? Good luck starting the car

Thu Apr 3, 2008 8:55PM EDT

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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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  • 6 Posted by brettthejet@att.net on Thu Sep 3, 2009 3:12PM EDT Report Abuse

    ryebread, i hope you never miss a payment . because you probably couldnt handle a day in jail. we are in a recession because of dumbasses like yourself. This is the craziest idea i have heard about lately. WE THE COMPANY FOR THE COMPANY!!! ITS TIME WE TAKE OUR COUNTRY BACK!!!

  • 7 Posted by s_cleeton@sbcglobal.net on Thu Sep 3, 2009 9:53PM EDT Report Abuse

    When did race play a role in this discussion? ABSOLUTELY uncalled for and extremely rude. Manners isn't your strength is it?

  • 8 Posted by barbgarcia1987@att.net on Thu Sep 3, 2009 3:02PM EDT Report Abuse

    What happens when you send in your payment with plenty of time to post and they don't bother to post it on time? This happens often enough with credit card payments now so that the bank involved can charge you with a late fee. That's bad enough, but when it happens with a car payment on a car that has one of these devises on it and you live in an area that has either no or very little public transportation you can't get to work!

  • 9 Posted by chowin@verizon.net on Sat Apr 5, 2008 3:36AM EDT Report Abuse

    ahh yeah, real clever device sounds like. it is Big Brother-like Bullcr_p. I don't like the trend of control this thing is imposing.And i don't have problems paying bills either. Whats next? Will I need good credit to use a public restroom in the future? not to worry though. their will be back alley chop shops to take the thing off. and they will make a killing. more than one way to skin a cat. ryebread you are an as_h_le. sorry. but your post was lame. this thing is just so ridiculous. it isn't going to work.

  • 10 Posted by yoestahey@sbcglobal.net on Thu Sep 3, 2009 10:56PM EDT Report Abuse

    ryebread45014....my only hope is that some day it is you can't pay. Your task for today...try to think of something constructive to say.

  • 11 Posted by garrett.c@att.net on Thu Sep 3, 2009 4:06PM EDT Report Abuse

    Welcome to the good oh USA Where Dreams are made You hear of people being Evicted from their homes eveyday and lockouts But who would of ever thought, They would do a Eviction or lockout on your Car. What about the danger in this? For Example having to run a child to the Hospital,or your in the middle of traffic on the Freeway and there a speed chase,Or your in the City,and the Fire Department needs to get by,and the lender decide to you shut down your car.

  • 12 Posted by nancee_babe1@sbcglobal.net on Thu Sep 3, 2009 7:33PM EDT Report Abuse

    Perhaps rybread45014 should have lived in England during the 1500 and 1600 and even later times when they had debtors prisons..... a person sent there could not earn any money to pay debt therfore that is where they ended thier lives..... and it is all too easy to fabricate information or get your identity stolen and become the victim wrong information posted to your account and therefore you cannote even find a job because this info is sent to employers who investigate prospective employees... whew what a crock of stinky poo!!!

  • 13 Posted by dpoleon67@att.net on Sat Apr 5, 2008 3:44AM EDT Report Abuse

    I think this is a great idea because too many people buy new cars that they know they cannot afford just so they can look like big shots. if you're struggling that bad then you should not be driving a new car.

  • 14 Posted by sheilailu on Thu Sep 3, 2009 9:18PM EDT Report Abuse

    ryedead45014 YOU ARE VERY VERYDUMB ASSSS (B)!!!!!!!!!!!

  • 15 Posted by rebonfam@ameritech.net on Thu Sep 3, 2009 8:33PM EDT Report Abuse

    Show no mercy...get no mercy. All I can say is that sometimes bad things happen to good people. No one intends to default on their car loan when they purchase it! I have learned from experience that we all need mercy at some point or another. I'm glad that I have been the recipient of mercy and favor when I have needed it. It may seem like a really easy thing to sit back and judge someone because of mistakes, but watch out...someday, as you have judged, you shall be judged. Oh, and please, no responses...I'm not about to debate with people who have no feelings for the ones of us who have experienced hardship...and I pray that those of you who haven't, never will.

  • 16 Posted by pscdoc@sbcglobal.net on Thu Sep 3, 2009 8:20PM EDT Report Abuse

    Whoever agrees with this is a MORON! And to keith_m_kaufman, don't you know that most if not all lenders ARE faceless organizations?!?! Are you living in the 21st century? What, do you think all those voice prompts you get when you call one of these so called faceless organizations are REAL people asking you do press 1,2,3,4,5, etc...for your benefit?!?! Also, these companies are already getting away with highway robbery when they charge less perfect credit worthy people ridiculous interest rates in the first place. And now they want control too?!?!? If these financial institutions did not give credit to these so called subprime borrowers how do you think they will make any profits? Do you think they make money off tier one credit borrowers? What a joke.

  • 17 Posted by chocolate0916@sbcglobal.net on Thu Sep 3, 2009 3:23PM EDT Report Abuse

    Some of the reasons people can't pay bills on time is because of the recession stupid.... Everything is going up except peoples rate of pay!!! Lenders want people to pay bills on time, but all the lenders seem to all want to be paid on the 1st. Everybody is not going to be paid from one check and people are losing jobs everyday because of the cost of living. So you're telling me that if I got laid off and can't find a job quick enough your going to stop my mode of transportation. FU!!!

  • 18 Posted by northernbeans@sbcglobal.net on Thu Sep 3, 2009 7:41PM EDT Report Abuse

    To think this is a bad idea,only says dont lend you any thing because you may or may not pay your obligation and cant be trusted.Dont for get that the lender has to eat also and may not help any one else.

  • 19 Posted by timyarger@sbcglobal.net on Thu Sep 3, 2009 10:10PM EDT Report Abuse

    Not entirely a bad idea. My wife & I were just starting out. We needed a refrigerator. The firm we bought it from attached a little (gray) box, into which we inserted quarters each payday. That bought us 1 day of refrigerator use per quarter. We would put in 14 quarters, to last until next payday, and actually eventually paid for the fridge that way. Interesting!

  • 20 Posted by brettthejet@att.net on Thu Sep 3, 2009 3:12PM EDT Report Abuse

    Im suprised the greedy oil companys aren't crying foul!!! Less cars on the road means profits go down!!! Oh wait just another reason for them to raise our gas prices . Have a great weekend!!!

  • 21 Posted by cwhooge@sbcglobal.net on Thu Sep 3, 2009 3:33PM EDT Report Abuse

    This is a great idea! Wish everything people buy would come with such ways to insure payment. We all suffer for what others buy and do not pay for. We had an employee that was constantly having trouble paying for things. He borrowed money and wouldn't pay it back to the loan company and bought cars and wouldn't make the payments on them. He ruined his credit and also his mother's credit because she co-signed for the car. We watched the car company man try to keep from repossing the car, but our employee wouldn't do anything to settle the matter. Oh!, by the way, he had a cell phone, bought a big swimming pool for his daughter that she seldom uses, a new car for the wife and various TV and gaming equipment. Always money for the things that he wanted, but never money for what he really needed. People use to take personal responsibility for themselves and their families, but that is becomming a thing of the past. As a child, I went without many things that my parents couldn't afford. I knew that my dad worked hard and money was tight. I appreciated what I got and learned to work for other things that I wanted that my parents couldn't afford. I wish units like this could be put on everything that is bought on credit. You pay or you lose. That would make people think twice before they buy. You always have to think about emergencies and plan for the unexpected. Life is not always fair, but that is life. I know plenty of families that don't have much, but they are happy, their kids learn the value of a dollar and they work hard for what they need and also for what they want. More power to the good people and I hope that things like this make people stop and think twice before buying anything!

  • 23 Posted by flyinmomma@sbcglobal.net on Thu Sep 3, 2009 4:01PM EDT Report Abuse

    This item has been used for years by a car dealer in Michigan and I beleive they were sued and forced to stop using the device after some cars had their engine cut off while driving, some even caused accidents when the engine stopped while driving on the freeway. I understand that lenders need options but it should never go so far as to endanger lives!

  • 24 Posted by glwinch on Thu Sep 3, 2009 4:10PM EDT Report Abuse

    ryebread45014, you must be a friggin banana republic dictator wanna be!

  • 25 Posted by bright97@pacbell.net on Thu Sep 3, 2009 3:13PM EDT Report Abuse

    Seems like a great idea. Too many people treat lenders like faceless organizations and that the person in default is somehow a victim. Lending money is a risk and if this reduces the number of defaulted loans and late payments, it is good for the entire borrowing populous and also will have a direct positive effect on the borrowers credit rating. If you cant pay you cant drive...if you cant pay you can't sleep (homes)...if you cant pay your bills you shouldn't get the perks of people who can. I do not feel sorry for the people this effects. This is why we are in a recession because people can't pay their bills...they should be taken to jail on the spot! America NEEDS to STOP Borrowing !!!!!

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