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Miss a car payment? Technology prevents drivers from moving vehicles

A growing number of subprime car owners must deal with restrictions, such as ignition locks if payments are missed
By: Michael Hatamoto | Technology in Vehicles News | Posted: Sep 25, 2014 6:40 pm

Much of the attention related to car technology is focused on in-car features to woo potential buyers - but not the technology that could prevent a vehicle from starting. A harsh lesson for those people late on car payments, as lenders are using technology to prevent vehicles from moving until payments are made.

 

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Subprime auto loans have increased over the past five years - 25 percent of car loans in 2013 were made to people with credit scores at or below 640 - so vehicle lease holders want to try to protect themselves if payments aren't made. The starter interrupt device provides lenders the ability to remotely disable locks, along with track vehicles via GPS.

 

However, customers have complained that their vehicles have been shut down for payments just a few days late - or randomly shut down while waiting in traffic - further igniting a car technology debate.

NEWS SOURCES:Seattletimes.com, Capitolhillexxon.com

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