Car lenders disable cars due to late payment while driving

[thetransporter]

http://dealbook.nytimes.com/2014/09/...business&_r=1&


The thermometer showed a 103.5-degree fever, and her 10-year-old’s asthma was flaring up. Mary Bolender, who lives in Las Vegas, needed to get her daughter to an emergency room, but her 2005 Chrysler van would not start.

The cause was not a mechanical problem — it was her lender.

[killramos]

Well after the lawsuit is done she will have no problem making her payments do win win?

Rediculous, intervention is something I worry about with connected drive on my bmw. Then I take off my tin foil hat and have a beer.

[jdmXSI]

^^ The ridiculous intervention is atleast 5 years away and will probably roll out on the 5 and 7 series first... I don't think you have anything to worry about.

They do it here in Calgary too, if they think you are a credit risk. There is a fuel cut off that is installed.

[ExtraSlow]

They have ambulances in Las Vegas - Fact.

[Feruk]

I was invested in the Canadian stock that does this for years. Company's called Carfinco (TSX: CFN). Brilliant business model. Very high interest loans with extremely low default rates. The way their technology worked was once you were late on your payment, the car would set the alarm off for like 30 seconds when you went to unlock it (but you could still drive). Once you were a couple months late, the car wouldn't turn on until you paid what weas owed. It's a better way to make money off stupid poor people than even credit card companies, as the loans carry a huge interest rate.

As for the dumb cow in this article... either pay your bills on time, or take the bus.

[Sugarphreak]

...

[Fly Fishin']

When i worked for Automaxx (yes all their cars are crap!) We put these cut offs on over 60% of the units sold and pulled lots of them back to the lot.

[Modelexis]

Sooner or later irresponsibility is going to catch up and it's a shame that the innocent child had to suffer due to her mother's negligence.

[Twin_Cam_Turbo]

I had a guy tow his car in once because it wouldn't start, and well you know how it went from there...

[Khyron]

So if they'd walked out to leave and found the van halfway onto a tow truck, how is that any different? Bad timing, pay your bills.

[MGCM]

i hope the government charges the mother with negligence, just stupid

[Seth1968]

“I felt absolutely helpless,” said Ms. Bolender, a single mother who stopped working to care for her daughter. It was not the only time this happened: Her car was shut down that March, once in April and again in June.

Uh huh.

[Thaco]

it's still stupid, a lot of people in a situation like this, would just rage and trash the vehicle, it's a no win..

[JustinMCS]

Originally posted by Seth1968


Uh huh.

+1

[AE92_TreunoSC]

Idiotic americans as usual. Apparently they'd rather have the car repo'd.

[thetransporter]

Originally posted by Fly Fishin'
When i worked for Automaxx (yes all their cars are crap!) We put these cut offs on over 60% of the units sold and pulled lots of them back to the lot.

what if the device doesnt receive the signal??

[Sugarphreak]

...

[FraserB]

I wonder if the people who are in default and have their cars shut off even think about avoiding the situation by paying their debt? If you can't afford a car, which is not a right, there are things called buses and bicycles. They are generally cheaper and serve the same purpose.

[jwslam]

Originally posted by Sugarphreak
Needs a new dash light:

"Check Bank Account"

To be ignored along with the CEL, Oil, Low Gas, TPMS, and Airbag lights? These people care nothing about "their" cars...

[Hallowed_point]

What's to stop someone from taking the car to a shop to have this device removed once they become aware of it? It's a good idea I think. But misguided. As others have said, they may just resort to destroying any residual value in the vehicle.