This is truly frightening. It’s an industry wide practice? So car dealers can now track where you go? What happens after the loans are paid off? Do they come and remove the tracking devices?
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 documents. Besides, the borrower doesn’t own the car, until the last payment is made, it’s owned by the dealership – therefore they have the right to know where the car is and if the payments aren’t made they will disable the engine (only when the car is not moving) and come repossess it.
If you knew what some of these dealerships had to go through to get their vehicles back you would be a little more understanding. And it’s also not ALL dealerships and all borrowers, it’s the people that are high risk and have bad credit scores. These aren’t the guys that are buying cars at the GM lots, they are the Buy Here Pay Here companies.
It’s fairly common, and also linked in some cases to a engine disabling feature. Fail to make your payments on time, and they will remotely disable your auto so it cannot be started until you make the overdue payment.
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 cars, the Corvette for instance. Not GPS exactly but a “little black box” type device. Chevy wants to know what if anything went wrong in an accident. It’s not good for the defense in an accident if the other party had access to the speed of the car, etc..
This is truly frightening. It’s an industry wide practice? So car dealers can now track where you go? What happens after the loans are paid off? Do they come and remove the tracking devices?
This is a lawsuit waiting to happen.
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 documents. Besides, the borrower doesn’t own the car, until the last payment is made, it’s owned by the dealership – therefore they have the right to know where the car is and if the payments aren’t made they will disable the engine (only when the car is not moving) and come repossess it.
If you knew what some of these dealerships had to go through to get their vehicles back you would be a little more understanding. And it’s also not ALL dealerships and all borrowers, it’s the people that are high risk and have bad credit scores. These aren’t the guys that are buying cars at the GM lots, they are the Buy Here Pay Here companies.
Buyer Beware.
It’s fairly common, and also linked in some cases to a engine disabling feature. Fail to make your payments on time, and they will remotely disable your auto so it cannot be started until you make the overdue payment.
It may be common but that doesn’t make it right. Do they remove the engine disabling feature after the vehicle is paid off?
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 cars, the Corvette for instance. Not GPS exactly but a “little black box” type device. Chevy wants to know what if anything went wrong in an accident. It’s not good for the defense in an accident if the other party had access to the speed of the car, etc..
Where did they learn to underwrite a loan? From former mortgage brokers? If it’s THAT risky….Don’t do it!!!