Colorado Car Dealers Installing GPS to Protect Risky Loans

February 24, 2012

Some Colorado car dealers who are approving high-risk loans for the vehicles they sell are installing GPS tracking units to protect their investments.

According to KREX-T, the use of tracking units is an industry-wide practice, but few buyers are aware of it.

Several car dealers confirmed using the devices, but they refused public comment.

Dealers say they only use the devices when someone is delinquent on a loan.

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Latest Comments

  • February 25, 2012 at 10:04 am
    Former Status Quo says:
    Why is it a lawsuit? Often times the notice of these devices is in the loan agreement that the debtor never reads - it's not the dealership's fault if you don't read your loan... read more
  • February 24, 2012 at 7:50 pm
    Anejo says:
    Don't know but you'd think they'd want their device back to put in another car. I doubt they are cheap. I agree the devices are wrong. Some manufacturers put them in high-end ... read more
  • February 24, 2012 at 5:25 pm
    The Other Point of View says:
    It may be common but that doesn't make it right. Do they remove the engine disabling feature after the vehicle is paid off?
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