"Changing behavior through technology" (1 Viewer)

[Zen Butler]

This is seriously the tag-line on these devices that are now being installed at my dealership(remain unnamed).

helps credit challenged members to rebuild their credit by automatically disciplining them to make their car payment..

The device is called On Time, here is how it works...

On-Time

I now have installed close to 50 of these devices, and they are quite visible to anyone in the vehicle. It's legal.

I knew this device was coming but now that it's here, it feels a bit strange. Too far? Thoughts?

 

[Joe Szott]

Seems like if someone needs one of those installed, maybe they shouldn't be selling them such an expensive new car.

I would actually think that for rental cars that device could be pretty cool. They program it for the number of days you rented it for and they can be pretty sure that you'll be returning it on time (or just a day or so late.)

 

[John Alvarez]

I agree with Joe. If you need something like that then they shouldn't get financed to begin with. They probably need a G.P.S. more than anything to locate cars that need to be repoed from people hiding them.

 

[Holadem]

You guys don't believe in second chances, do you?

Here is a device that allows credit challenged folk to buy a car while giving the dealer some measure of peace of mind.

I've been there, and would have appreciated something like this if it makes the dealer feel better. It's certainly better than the absurd amount of interest you get raped with. That is assuming interests rates get more reasonnable with the use of this device, which may not even be true.

--
H

 

[Jay H]

I, a natural tinkerer and DIY'er, would simply take some black duct tape and tape over the LEDs or something similar.


Jay

 

[John Alvarez]

Yes I do. I was in a situation years ago too and financed a buy here pay here car. It wasn't worth enough for them to even put one of those things in. A beautiful 1972 Buick Regal with torn vinyl seats. How I miss the rumbling from the beer can exhaust.... This was in 1984.

 

[Grant B]

Just wait till Doctors start putting those in with your triple bypass.......2 hours till payment or your heart will stop.
I am sure if they have a big lobby Congress won't have a problem with it

 

[Garrett Lundy]

What was wrong with automatic bill payment?

 

[Zen Butler]

It's actually the finance companies that ship them to me. These are brand new cars. Wait, actually I saw a few of them being installed on some upper-end pre-owned.

Jay, I forgot to mention it is "illegal" to tamper with them.

 

[Charles Guajardo]

so what happens when you're a day late on your payment and you need to get to work to pay off your new car but the car won't start?

or you're late with a car payment because of some sort of medical emergency but you can't take your child to the hospital because your car won't start?

horrible fucking idea.

 

[Zen Butler]

You can call, and get an emergency code.:rolls eyes: I'm kinda siding with Charles on this.

 

[Haggai]

A bit off-topic: Zen, did you just move to Arizona?

 

[Zen Butler]

I'm back and forth for a spell.

 

[MarkHastings]

or if it malfunctions and you get stranded.

 

[John Alvarez]

Exactly. If you can't do automatic then the car comes back. Just draft the checking account every month.

 

[Bob_C]

Actually, a co-worker's daughter bought a used car with this or something very similar to it installed. It worked without a problem and was a way for her to buy a car with having very little credit. She didn't need a co-signer this way. Everyone was happy in the end and the car is already paid off.

 

[Dave Poehlman]

I'm all for this idea.

I used to work for a collections department and 90% of the time people didn't pay their bills wasn't because they didn't have the money.. it was because they didn't feel it was a priority. Boy, you shut their cell phone service off and they sure find the cash in a hurry!

 

[Ted Lee]

hey zen! haven't seen you around...did you ever get my pm?

anyhoo ( ), i kinda like this idea. i agree with h that it's better then getting killed with interest. when i was rebuilding my credit, i had to bend over and take in something like 18% financing on my car. man, they didn't even kiss me first.

but how fast/reliable is this service? if i only have one day to pay, and it's near the end of the day, how long before they figure out i paid and unlock the car? and what if something goes wrong with my payment? then it could be days before they unlocked the vehicle.

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but most importantly, i think i'd be too embarassed to have the thing visible.

"hey ted...what's that thing".

"uhhh...it's a new state-of-the-art sound system for the car..."

 

[Joe Szott]

Oh sure I do, but I also believe in personal responsisbility for your actions. If you destroy your credit and/or go through bankruptcy, should you expect to be able to afford a brand new car? Sometimes paying for your mistakes requires real sacrifices, not just paperwork.

What I'm saying is if it is a risky enough loan to put this device on a $30,000 new car, why not steer the person to a nice $18,000 used car on the lot instead and forgo the device? Oh yeah, because they are greedy as sin and really don't care about the person's situation to begin with. Sell them the max they can('t) afford and then use every dirty trick in the book to make them pay up. Yeah, I'm the heartless one

 

[Bob Graz]

Hmmm, do they make a device that locks you out of your house if you are late on your mortgage payment?