High tech repossession technology
Tonight I heard that some dealers might be putting GPS chips in new cars so they’re easier to locate. No more hiding the car at your friend’s house, I guess. Curious, I did a little Googling. I found that there’s a lot more than that out there!
For example, a US News and World Report article lists no less than four modern repo marvels: some kind of magical tow truck that can extricate a parked in car; license plate scanning technology; an ignition disabling device tied to the borrower’s monthly (or semi monthly as the case may be) payments; and, last but not least, the infamous $200 SmartTrack GPS tracking device from Rocky Mountain Tracking.
Now that’s what I call leverage. The article is here.
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