Subprime lenders can remotely disable vehicles when payments aren't made

"being a few days late is normal"? What if your employer was just a few days late with your paycheck? Pay your bills, on time.
 
The view from your high horse is so clear. Some people find themselves being layed off due to corporate cutbacks through no fault of their own. I hope you never have to choose between food for your family and a car payment. I'm not saying there are not deadbeats out there but it's not always that black and white my friend.
 
You only own your car if you have paid in full!
Pay up slouches! It belong to me sonny.
 
The view from your high horse is so clear. Some people find themselves being layed off due to corporate cutbacks through no fault of their own. I hope you never have to choose between food for your family and a car payment. I'm not saying there are not deadbeats out there but it's not always that black and white my friend.

Then they should renegotiate the lease, or trade it back in, or buy a cheaper car... People should always try to save 3-6 months (if not more) worth of emergency funds for these type of situations. Heck, if you've exhausted your 6 months of unemployment and still didn't get rid of that lease... then it's your own fault.

I would agree to 30-60 day grace period for failing to pay then BAM disable the car.
 
I was brought up to save money and only borrow when I don't need to...
Similar here, only borrow when its the right time, its also a great way to build up credit. Thats about the only reason. This does not really counter or apply to anything I said about saving money and avoiding debt though.

Sounds like you were brought up wrong.
Maybe you should read slower.
Investing can be smart but sometimes dangerous/risky, its better to just save.
Being free of debt is worth more then anything you have. If you owe on it, you don't own sh!t. Our economy is too dependent on credit and its a joke, people spending money they don't have to buy things they don't need.
Most of todays youth grow up in debt or not knowing the true value of a dollar.
 
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Dang, lots of insensitive people. "Don't buy it if you can't afford it or pay it in full"? What the heck is that? How many of those who said that or something similar bought their homes with cash? Less than 1% I'm sure. Now imagine that your home lender decided to simply turn off the electricity and water or send a thug over to kick you out of YOUR house in the middle of the night simply because you missed a payment. No difference with a car.

What is being ignored here is that once you buy something, whether on credit or not, that item becomes yours. The bank holds a lien on the property so you can't sell it without them getting paid in full. The bank may hold the title and be listed as the owner but possession and control of the property lies solely with the person the item was sold to. The lender has no right to control or possession of the car until such time as they have complied with all state laws regarding repossession.

If they did that to someone I knew, I would advise them to seek an attorney and sue for an illegal repossession.

Now, having said that, I would almost bet that on vehicles that these devices were installed on, that the lenders will have thought of that already and included a signature or initial line in the sales contract for the buyer to acknowledge that the device has been installed and will be activated if they miss a payment plus a waiver of privacy thus releasing the lender both from liability and privacy concerns re the GPS monitoring. Activating it while the car moving is a big no no though and only invites a lawsuit against the lender regardless of the terms of the contract.
 
I think that if lending money to a specific person is considered a high risk it is up to the lender to decide whether or not he wishes to take the risk, this is why interest rates vary a lot, however if the person getting the loan accepts this extra condition then its perfectly reasonable, this is a contract between them, doesnt affect me.

My problem is a different one, if lenders can disable these cars remotely as easily as they say then so can I (and any other IT person out there), its a matter of time. There is no such thing as secure software, the best security comes from difficulting access, in this case access appears to be extremely easy.

People not paying theyr loans getting affected by the contract they signed is legitimate, other people in no way connected to that contract possibly having to suffer consequences (from the very serious case of a car shutting down in the highway to a less serious case of a car shutting down on a red light) seems to be unfair, and certainly worthy of litigation.

Whats wrong with having collectors fisically visiting the person that is not paying and applying whatever legally acceptable punishments (like putting a boot on the car, same effect less vulnerabilities)?
 
This is not something new, I have been in the business and selling these devices to BHPH (Buy Here Pay Here) dealers for years. While there have been instances of the dealers disabling the vehicles at inopportune times, like while the people are on vacation or holiday weekends, they are not connected to detrimental systems like the main power. These devices only disable the STARTER and at no time are the cars or owners in danger. The vehicles can not be shut down while in use. So unless you make it a practice of turning your car off at a street signal you will not stuck at an intersection and your car will not shut itself off while you are driving down the road. Also, the car dealers disclose the use of these devices at time of purchase and write it in the loan contract, so if you remove the device after purchase, your loan can and most likely will go into default and risk repossession with no compensation due to the customer.
 
Just yank the kill switch out and toss it in the trash, better yet toss it on the creditors doorstep.
the car dealers disclose the use of these devices at time of purchase and write it in the loan contract, so if you remove the device after purchase, your loan can and most likely will go into default and risk repossession with no compensation due to the customer.
 
the car dealers disclose the use of these devices at time of purchase and write it in the loan contract, so if you remove the device after purchase, your loan can and most likely will go into default and risk repossession with no compensation due to the customer.
I still think it's underhanded. Can you rip it out and throw it away after the debt is paid?
 
I still think it's underhanded. Can you rip it out and throw it away after the debt is paid?
once the loan is paid you can indedd have it removed... some systems can be transferred to the owners to use at their discretion for instance.. to track their kids or as a theft recovery device like a LoJack system
 
I can tell you that if the first wire is cut from the factory harness, I wouldn't want the car. If such a device can be connected without damaging the harness, I see no harm in the lender trying to enforce payments.
 
I can tell you that if the first wire is cut from the factory harness, I wouldn't want the car. If such a device can be connected without damaging the harness, I see no harm in the lender trying to enforce payments.
it is no different than adding a car alarm. LoJack, aftermarket stereo, etc....
 
Yes, this is a very good idea. but it should not be used when the car is in motion. like traffic, or in gear. I can see this is a very good idea if the bills are not paid. !!!
poor rich people cant pay his bill.
 
If it requires cutting wires, I don't install it. Unless I find I have no choice, in order to repair a damaged component.

Aftermarket stereo is irrelevant. Although I do go out of my way to adapt factory plugs for converting to the new players.
 
This is really old news. I had one of these on a F150 I was paying on. Took all of 30 minutes to find it and disable it the first day. They never had reason to use it until my very last payment which was intentionally 30 days late. I then drove in to the lot with the pickup that was "Supposed" to be disabled made the final payment with the late fees. The guy was PISSED off, threatened to repo the truck and I told him lets see what you got. nothing ever happened with that.

These things are stupid and extremely easy to disable and/or remove.
 
If you have bad credit, you should have two options. 1. Pay in cash for the purchase. 2. Don't buy it.

I see nothing wrong with disabling cars that aren't paid for.
until one stops in front of you going 70mph down the highway and you smash into his ***, destroying both your car and the "unpaying customers"
 
Puples fantasys run away with them, of course this doesn't work if you are going at 60 on the highway, it only disables the starter anyway. Once in motion the car is fine. As someone else pointed out, if its needed for a job commute then its silly to block it. But expect its only used for those 3 months in arrears.
And dont forget a mortgage is a loan too, try paying cash up front for that 3 bed Mansion? I was brought up never to need housing or food, by god it's saved me a fortune over the years!
 
I can see using the GPS to locate a vehicle when payment's are missed, and if need be to repossess a vehicle from the lenders home, but not to disable the vehicle. What if the lender disables the vehicle where now the disabled vehicle is in a spot where the borrower's vehicle can be fined and towed, or receive a ticket/fine from a patrol officer due to the disabled vehicle's location. Will the lender know if their are disabling a vehicle in a parking zone that will expire, on a highway with the vehicle in the middle of traffic, or halfway on the shoulder and halfway in traffic to cause an accident. Will the lender try and make the borrower pay for damages when was not the borrowers fault.
 
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