Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't see this flying at all. First, you have the privacy issue of a big red light flashing and/or beeping letting all your passengers know you're past due, plus these devices can be disabled/bypassed with relative ease.
I see this as more of a fad than a long term solution.
They have been developing this so that the police can in fact disable vehicles that they are chasing. It only makes sense since they have so many giivng high speed chases., besides that once they repo they can do what they want its their vehicle. I would imagine that its hard to bypass than most thoink as its the electronics. Its not the redlight; its the fact that they shut the vehicle down that the guy is worried about.No privacy issue since they are the leanholder.Besides who wants no warning that your vehicle is getting ready to electronically not strat teh next time you try to start. They will even dispatch a wreck to teh location to repo the vehicle.
They have been developing this so that the police can in fact disable vehicles that they are chasing. It only makes sense since they have so many giivng high speed chases.
Nearly impossible to do safely.
Quote:
I would imagine that its hard to bypass than most thoink as its the electronics.
I've seen how people bypass them. It's not very hard to do at all. These are add ons to the stock vehicle.
Quote:
No privacy issue since they are the leanholder.
False.
Quote:
Besides who wants no warning that your vehicle is getting ready to electronically not strat teh next time you try to start. They will even dispatch a wreck to teh location to repo the vehicle.
There are simply too many things that could go wrong with this. I imagine that it won't be too long and someone will fight the legality of this.
I don't see this flying at all. First, you have the privacy issue of a big red light flashing and/or beeping letting all your passengers know you're past due, plus these devices can be disabled/bypassed with relative ease.
I see this as more of a fad than a long term solution.
It may have its flaws or weak points, but privacy is NOT one of them. This is voluntary by the borrower with bad credit (which comes from problems with previous repayments, and the best predictor of future behavior is past behavior) or they can drive a 10 year old POS small car with 150K on the clock.
Don't want to be 'embarrassed' by your payment due reminder flashing on your dash, make the payment.
It may have its flaws or weak points, but privacy is NOT one of them. This is voluntary by the borrower with bad credit (which comes from problems with previous repayments, and the best predictor of future behavior is past behavior) or they can drive a 10 year old POS small car with 150K on the clock.
Don't want to be 'embarrassed' by your payment due reminder flashing on your dash, make the payment.
Sure it is. Even though borrowing money is voluntary, there are still privacy laws that prevent your creditors from making your payment habits public, so why would the beeping noise/light inside the car be any different.
And then, what's to stop the lenders from trying to install these in all vehicles? Not much.
I'll say it again. Once this starts getting challenged, it would not surprise me to see the courts put a stop to this.
I don't think this is any different than rental cars that have GPS locators installed in them. It's no different with buying a car or renting a car. You are driving something you don't technically own free and clear.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
