ke9v.net

Loan companies and automobile sellers are installing electronic repossession devices that kick in if a buyer misses a payment. One California-based company has equipped a quarter of a million cars with its “On Time” automatic repossession device, which flashes colored warning lights to the driver of a car bought on time as loan payment day approaches.

The light is green when you’re good; when your payment is due it turns yellow. If, despite the reminders from “On Time,” the driver does not make a timely loan payment, the device will start beeping all day so you know it’s the last day before shut-off and soon you’re not going to be able to start your car.

When a payment is made, the driver is given a code to type into the stalling device, and the car can be driven again. “On Time” devices also include a Global Positioning System (GPS) component, which allows lending companies and banks to track and repossess a vehicle if the buyer defaults completely on a loan.

“On Time” sales grew by 30 percent in the first quarter of the year, and is beginning to move into overseas markets, with distributors in Britain, China and Dubai.

The company has plans to fit “disablers” on other big-ticket items, such as photocopiers or printers.

Life would be so much better for business if it wasn’t for them damned pesky customers. Eh?

73 de Jeff