Car Payment Box

[Excaliber]

There is a way to defeat all these various controls, but it's kind of tough to do when your drunk and poor.

I make an occasional loan, and have had to reposses a a couple of cars. I'd vote for a black box that would give me a better shot at getting MY car back from some looser. Last time it was in Waianae, 2 am, I had the spare keys, not a good place for a repro man to be caught. I'd been looking for the car for two months. The motor stumbled when I started it up, thought it was going to die, reved it up, wind up burning rubber in the parking lot. NOT GOOD, so much for a stealthy escape.

[Ron61]

If you miss a payment it says the box has to have a code put into it to let the car start. Does it have to be taken to the person or dealer that you got the car from? If son, then how does the dam thing know when you make a payment unless you take it back for them to tell it? What next, black boxes on your house and utilities? I am really happy now that I paid cash for everything that I have. I just have my normal monthly bills come in which I can't avoid. Plus a visit to the eye doctor and new glasses which I am sure that I will need this time. And of course the ever present looming dentist visit. Maybe a black box so my teeth will fall out if I don't pay.

Ron

[meat]

Originally Posted by Ron61

If you miss a payment it says the box has to have a code put into it to let the car start. Does it have to be taken to the person or dealer that you got the car from? If son, then how does the dam thing know when you make a payment unless you take it back for them to tell it?

My understanding is that you make a payment, you get the code for the next time period. You miss a payment, you don't get the code.

Your pal,
Meat.

[Ron61]

Thanks Meat,

I hadn't seen anything about that except that you had to have a code put in to keep it working. What happens when you pay the car off? Do you remove the box or does it just stay there?

Ron

[Don]

GM OnStar has or will have the options:

* prevent a car from being started
* not sure how this will work, or even if it is correct. If stolen, the power can gradually be decreased for a controlled stop, then prevented from restarting.

Correct or ?

[RAZOR]

Look at this way guys, their are probably 30 to 40 people a week come into the dealership where I do finance, who want and need a car but cant get one, because their credit is so bad. The only way with their credit history is to use a lender that uses one of these devices. We dont have one that does but their are some out their that do this and it is a benefit for the customer, allowing them to have transportation and rebuild their credit. Ask yourself, would you lend $10,000 to a person that has never paid back any one that has loaned them money?

[Ron61]

Razor,

You have a point. Now reverse it and look at it this way. If you have a credit rating that is in the 850 range, never owed money, and has never been late paying monthly bills, would you like being treated as an untrustworthy person? Also if their credit is so bad they can't afford a car, how is that box going to pay for it? And with or without that box, would you lend $10K to a person with the record that you cited?

Ron

[RAZOR]

The box is only used on loans with very bad credit history, if you have anywhere near good credit it is not a worry for you. The way most devices work, is that it shuts down the car if the payment is not made, and you cant start it until payment is made. Realize these people can do this or go to a buy here,pay here, where they get a $2000 car for $8000 and they pay weekly, and they still might have the black box.
The fact is that bad credit and INCOME have little relationship, plenty of these people make great money,some with meager incomes have excellant credit, or like this past week a very nice couple, each with over 20 yrs on the job each making near $60,000 a year had poor credit, not bad enough for a box but in the subprime range. Being poor certainly makes you more likely to have credit issues but is not the sole contributing factor. Having poor credit is no indicator wheather or not you can afford a car, many times it is an indicator of character.

[Bugman]

I have a used car lot and one of the lendors we use will supply the box and pay us $250 to install on vehicles they finance. It does not have codes but has an ignition interupter and GPS tracking system so the vehicle can go be picked up. I've never put one in but the ones they use are mounted behind the dash and virtually impossible for the average person(and a few mechanics) to even locate them.