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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.
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.I was brought up to save money and only borrow when I don't need to...
Maybe you should read slower.Sounds like you were brought up wrong.
Just wait untill this gets a maasive Data breach, Hacked and caiusing acciedent (I hope no one dies) and then some one might care about this..... this is down right dumb.... playing with peoples lives for money.
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.
I still think it's underhanded. Can you rip it out and throw it away after the debt is paid?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.
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 systemI still think it's underhanded. Can you rip it out and throw it away after the debt is paid?
it is no different than adding a car alarm. LoJack, aftermarket stereo, etc....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.
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"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.