Has this ever happened to you? You buy a car at one of those "no credit, no problem" lots, you miss a couple payments, and next thing you're stranded after your shift at the strip club, where you call your baby's meth-addicted daddy for a ride, so he has to leave the craps table long enough to "borrow" a tow truck, pick up a 12-pack and drop off an "envelope" at a local resident's home. Then he gets into a shootout with cops. At this rate, you'll never get home (yeah, we've been there).
That's what could happen if you buy a car from one such dealer in Florida, and fail to make timely payments. The dealer installs an in-car device from Payment Protection Systems ("changing behavior through technology" — yikes!) that reminds drivers when a payment is due, and prevents the car from starting if they're in arrears for more than five days. The dealer says payments are 95 percent on time since he's been fitting cars with the device, which he refers to as the "co-signer." [Thanks to RD for the tip.]
Late with a payment? No wonder car won't start [St. Petersburg Times]
Related:
Many Car Owners "Upside Down" on Loans [internal]