Remember the movie Repo Man? Ya, times have changed since then and now the repo man may be unemployed man with the new PayTeck Smart Box getting installed in many vehicles today. It’s a neat little device with a keypad that requires a new code to be punched in after each payment is made. If no payment is made, no code is given, and no igniting is then happening under the hood. Skip a payment and you’re going nowhere. “No car for you!” Is it effective? Well Art Madden, one dealers general manager that uses the device, told USA Today, “It’s amazing how people manage to pay when they know their car won’t start.” Ya, I bet. 🙂
USA Today gives the run down on the repo man 2005 like this:
It’s worked wonders at Norfolk’s Patriot Auto Sales, where nearly every car that drives off the lot is outfitted with a PayTeck Smart Box, a system that hands over a five-digit code in exchange for each payment. Come due date, the car won’t crank until the customer punches the code into a palm-size keypad wired into the dash.
Patriot is the kind of operation that specializes in steeper interest, high-risk car loans. It advertises “no turndowns” — a corner of the used car business that deals with a “credit-challenged” clientele, as the industry puts it.
Laugh, cry, and awe in the complete telling of High-tech ‘repo man’ keeps car payments coming.
[tags]payteck smart box,repo man,patriot auto sales[/tags]