No Pay No Drive
Making your car payment never seemed so annoying. The tech has been around for a while, but it’s now proving effective, especially for one dealership in Norfolk, VA. It’s simple: An anti-start box is installed on your financed car. Make the payment and you receive the code upon payment to keep the car running. Don’t make a payment, don’t receive the code, and the car won’t start. To avoid emergency situations – suddenly the car won’t start when you have to get to the hospital – the anti-start boxes can be programmed to only activate at times when consumers won’t be out and about.
The boxes are installed on cars financed by high risk, bad credit consumers. According to the owner of the Norfolk dealership, repo rates have dropped from 45% to less then 15%. The Payteck boxes run $200 a pop. A reminder is sounded when the time draws close for payment.