Auto Lenders Using GPS Trackers to Recover Vehicles
Here is a news report from the New York Times, that explains how auto lenders are using GPS technology to recover their vehicles from non paying clients. People who have less than great credit and purchased a used car from auto dealers. The vehicles are equipped with a GPS tracking device that can also shut off the engine power to the car whenever the person misses a monthly payment.
Views are mixed on this report, because people say that it gives too much control to the lending company which can track all the locations the car is at, and also shut off the engine. Lending companies say they do not track the location but rather use it to remind the people financing the car not to skip a payment.
