Privacy is a thing of the past, better get used to it

All Things Chronic

http://www.bloombergview.com/articles/2016-03-11/there-s-no-crisis-brewing-in-subprime-auto-loans

But default on your car payment, and you can expect to have your car repossessed almost immediately. How is this possible? In a word, technology. The modern repo man uses a number of devices to find, track, disable and reclaim automobiles:

Subprime loan underwriters often require borrowers to have their cars equipped with a device that allows the lender to remotely disable the ignition. GPS technology in the devices also lets a lender track a cars’ location and movements. Knowing where the vehicle is, and being able to remotely disable it, makes repossession a snap.

Photographs are taken of “millions of plates a day, with scanners mounted on tow trucks and even on purpose-built camera cars whose sole mission is to drive around and collect plate scans. Each scan is GPS-tagged and stamped with the date and time, feeding a massive data trove to any law-enforcement agency—or government-approved…

View original post 211 more words


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s