New car technology penalizes owners who miss loan payments
Sep 26, 2014, 6:03 PM
This is the story that YOU wanted to hear us talk about! It received 86 percent of the vote in our Radioactive poll!
You’ve got to pay to play — or drive — is the name of the game.
CBS Los Angeles reports a new type of technology allows lenders to remotely turn off a vehicle if its owner misses a payment on his or her loan.
The technology is being called a starter interrupt device. State and federal authorities are trying to figure out how to regulate the technology.
“Every five seconds, the device is actually beeping at them, as they’re taking the kids to school, all the way to work, it’s informing them that they need to make their payment and contact their lender,” said Executive Vice President of Lender Systems David Sailors.
Manufacturers said the device was created to help borrowers make timely payments and rebuild their credit.
This might be the most obnoxious device to come to automobiles since the governor chip or the breathalyzer.
