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Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely

 
BRIEF

User ID: 65696907
United States
03/01/2017 01:36 PM

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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
I can't wait until the car drives you right straight to jail with the doors locked, after missing a payment. That's what you get for borrowing money.
 Quoting: BRIEF


My you're especially bitchy today
 Quoting: Anonymous Coward 73575856


It's that time of the month...you know, where you can't go into a store because the first of the month crowd is there clogging up the lines with their useless flesh.
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
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User ID: 72317673
United States
03/01/2017 01:38 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
I can't wait until the car drives you right straight to jail with the doors locked, after missing a payment. That's what you get for borrowing money.
 Quoting: BRIEF


My you're especially bitchy today
 Quoting: Anonymous Coward 73575856


It's that time of the month...you know, where you can't go into a store because the first of the month crowd is there clogging up the lines with their useless flesh.
 Quoting: BRIEF


You warned me too late
hesright
Time is sealed.

User ID: 74194985
France
03/01/2017 01:40 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Just buy a used car. Its cheaper and doesnt have all these shitty internet of things crap that gets broken and costs you a ton of money.
 Quoting: Face Palmer


A new law passed last year makes it illegal to drive in Paris with a vehicule that was built before 1998...
The Old Timer

User ID: 73732141
United States
03/01/2017 01:44 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
I see nothing wrong with this.
If you sole someone something. would you not want to be paid?
No one is forcing people to buy cars they can not afford to pay for.
They just want to "keep up with the Jones's"
Do not buy a car that you can not afford
Buy used cars that you can afford to pay for.

I have not had a car payment for 20+ years. If I cant pay cash I will not buy it. There may be a few issues that need fixed but instead of paying a payment each month, put the amount you would pay into a bank account dedicated to cat maintenance.

Although I could afford a new car if In wanted at this point in my life, I still will not buy one. When you put your name on the title of a new car, it becomes used and takes a huge hit in resale value. Very few cars go up in value and 99.9% of the ones that do are used.

The most expensive car I ever bought was a 98 corvette I bought in 2009. I paid $13,000 for it which was what the dealer was offering as trade in to the guy I bought if from.
He got a better deal on his new car with a cash down payment and I got a car well below the blue book value.

This past September I bought an 08 Jaguar for $1200 cash.
The owner thought the inside electrical system was toast because it would blow the fuse that controlled the heat/air dash gauges and interior lighting. I did some research before I bought it and found that this is a known issue that is a 5 minute fix. There is a wife that goes to the passenger sun visor for the lighted mirror that gets frayed and grounds out.
It is a simple fix. 3 screws and a small piece if electrical tape.
 Quoting: Geff_43


And you can't disable it because?????lead foil works wonders as well!!!!
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
The Old Timer

User ID: 73732141
United States
03/01/2017 01:45 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Just buy a used car. Its cheaper and doesnt have all these shitty internet of things crap that gets broken and costs you a ton of money.
 Quoting: Face Palmer


A new law passed last year makes it illegal to drive in Paris with a vehicule that was built before 1998...
 Quoting: Time is sealed.


That is a stupid enough law for the French....I'll bet it's true

pbdrink
Lets go Brandon!!

What doesn't kill us...makes us more interesting

Either you live for something worth dying for....or you rot away and die on the installment plan quote: Mr Bill

when I post something....I will remove any post I find disrespectful or offensive.....
PureSnow

User ID: 72157652
United States
03/01/2017 02:56 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Devil's advocate on side of consumer: My originating loan provider sold my truck loan to a less than reputable company known primarily as a debt collector without notifying me a few months ago and I don't live paycheck to paycheck anymore, so I didn't realize my loan payments were not being automatically withdrawn anymore..for two months.. they could have repossessed my vehicle legally :/

Once I realized what was happening I paid the missed payments and next payment at one time.

Last Edited by PureSnow on 03/01/2017 02:56 PM
PureSnow
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User ID: 69282012
United States
03/01/2017 02:56 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Yup, its right there in the contract when you sign. Its also in the contract that you will not tamper with the device and that you consent to them checking in from time to time. When you sign the contract, cross these lines out then initial above it.
PureSnow

User ID: 72157652
United States
03/01/2017 02:58 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Yup, its right there in the contract when you sign. Its also in the contract that you will not tamper with the device and that you consent to them checking in from time to time. When you sign the contract, cross these lines out then initial above it.
 Quoting: Anonymous Coward 69282012


That's a negative, no such line in my loan contract - I read everything before signing and knew they could sell my loan after six months, but they were supposed to notify me by mail.

Last Edited by PureSnow on 03/01/2017 02:59 PM
PureSnow
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User ID: 74275986
United States
03/01/2017 03:03 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely

I can't wait until the car drives you right straight to jail with the doors locked, after missing a payment. That's what you get for borrowing money.


=========================================

But the Criminal Bankers go free do they? Lending Money that is not theirs or is just created out of thin air on a computer screen. And when a customer defaults on the Loan then use it as a means to steal the real assets.

Good scam that, create fake Money and use a patsy to obtain items of Real Value. No doubt when it happens to you, as it will very soon you will be applauding same.

Rebel With no Morals, fixed it for you.


[/quotehesright
gcxc
User ID: 38923158
United States
03/01/2017 03:16 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
For the uninformed could someone please give me the Ciff's Notes on how a bank makes money lending to someone that they no for sure cannot make the payments? It does cost the bank money to have someone repo the car, so where's the upside for the bank?
 Quoting: Deplorable Busterhymen


Pretty sure lenders sell their notes all the time, and then there are people that make money by recovering assets.

It's kind of like that story of the whore and the $100 bill, I think:

It is the month of August; a resort town sits next to the shores of a lake. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.

Suddenly, a rich tourist comes to town. He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.

The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher. The Butcher takes the 100 dollar bill and runs to pay his debt to the pig raiser. The pig raiser takes the 100 dollar bill and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town’s prostitute that, in these hard times, gave her “services” on credit. The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.

The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything. At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying he did not like any of the rooms, and leaves town.

No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.
Anonymous Coward
User ID: 69282012
United States
03/01/2017 03:19 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Yup, its right there in the contract when you sign. Its also in the contract that you will not tamper with the device and that you consent to them checking in from time to time. When you sign the contract, cross these lines out then initial above it.
 Quoting: Anonymous Coward 69282012


That's a negative, no such line in my loan contract - I read everything before signing and knew they could sell my loan after six months, but they were supposed to notify me by mail.
 Quoting: PureSnow



We're good, mine doesn't have it either. But, I've had to review several contracts before they went legal and a lot of them do have the clause.
Nameless the Deplorable

User ID: 8533752
United States
03/01/2017 03:28 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
Buy used, learn to turn a wrench, save money, be free.
 Quoting: Anonymous Coward 74083309


Yep. Buy used in cash...preferably from a private seller.


--
'If you're going through Hell, keep going." -Winston Churchill

"The only thing necessary for the triumph of evil is for good men to do nothing." -Edmund Burke

Hard times create strong men,
Strong men create good times,
Good times create weak men,
Weak men create hard times,
Anonymous Coward
User ID: 18694954
United States
03/01/2017 04:41 PM
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Re: Miss a Car Payment? Banks Can Now Lock Your Car Ignition Remotely
For the uninformed could someone please give me the Ciff's Notes on how a bank makes money lending to someone that they no for sure cannot make the payments? It does cost the bank money to have someone repo the car, so where's the upside for the bank?
 Quoting: Deplorable Busterhymen


Pretty sure lenders sell their notes all the time, and then there are people that make money by recovering assets.

It's kind of like that story of the whore and the $100 bill, I think:

It is the month of August; a resort town sits next to the shores of a lake. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.

Suddenly, a rich tourist comes to town. He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.

The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher. The Butcher takes the 100 dollar bill and runs to pay his debt to the pig raiser. The pig raiser takes the 100 dollar bill and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town’s prostitute that, in these hard times, gave her “services” on credit. The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.

The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything. At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying he did not like any of the rooms, and leaves town.

No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.
 Quoting: gcxc 38923158


But they are all still without any money so the debt cycle will start over again as soon as the broke guy needs some hooker pussy.





GLP